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    Property profile & analytics

    2009 Wards Rd Lynchburg, VA 24502-5309

    • Drug stores
    • 10,113 SF
    • 1.87 lot acres
    OFF-MARKET
    Value Estimations
    $1,950,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1577127
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • CVS Photo / (Bike/Boat/Book/etc) Store
    • MinuteClinic at CVS / Medical Clinic
    • CVS / Pharmacy
    • LibertyX Bitcoin ATM / Atm
    • Coretta Thurman / Physician

    Property Details for 2009 Wards Rd

    Year built
    1998
    Lot size
    1.87 lot acres
    Property size
    10,113 SF
    Zone code
    B3C
    Property type
    Drug stores
    APN
    160 01 008
    APU
    16001008

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,045,000
      6.5%
      $1,890,000
      7%
      $1,755,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,396,000
      Market price range: $799k - $2.40M
      AI Estimate
      $1,559,000
      Market price range: $546k - $1.56M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,645,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $2,420,000
      Change: +47% Conversion: Difficult
      RESTAURANT
      $2,140,000
      Change: +30% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,055,000
      Change: +25% Conversion: Difficult
      MEDICAL BUILDING
      $1,800,000
      Change: +10% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,560,000
      Change: -5% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lynchburg
    County
    Lynchburg City
    State
    Virginia
    Longitude
    -79.1861
    Latitude
    37.3752
    CBSA code
    31340
    CBSA name
    LYNCHBURG, VA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $34,310
    $1,120,200
    $2,734,800
    $3,855,000
    -
    $1,120,200
    $2,734,800
    $3,855,000

    Comparable in this City

    • Value Estimation
      $580,000
      3,468 SF

      1215 Greenview Dr, Unit A

      DRUG STORE, PHARMACY • 3,468 SF
      1215 Greenview Dr, Lynchburg, VA 24502-2705
      View Details
    • Value Estimation
      $2,615,000
      13,566 SF

      2004 Wards Rd

      DRUG STORE, PHARMACY • 13,566 SF
      2004 Wards Rd, Lynchburg, VA 24502-5310
      View Details
    • Value Estimation by Request
      4,707 SF

      2015 Wards Rd

      FINANCIAL BUILDING • 4,707 SF
      2015 Wards Rd, Lynchburg, VA 24502-5309
      View Details
    • Value Estimation by Request
      1,190 SF

      116 Northwynd Cir Ste A

      RETAIL STORES (PERSONAL SERVICES) • 1,190 SF
      116 Northwynd Cir Ste A, Lynchburg, VA 24502-3409
      View Details
    • Value Estimation by Request
      3,654 SF

      1603 Enterprise Dr

      RETAIL STORES (PERSONAL SERVICES) • 3,654 SF
      1603 Enterprise Dr, Lynchburg, VA 24502-5753
      View Details
    • Value Estimation
      $790,000
      2,400 SF

      612 Leesville Rd

      CONVENIENCE STORE • 2,400 SF
      612 Leesville Rd, Lynchburg, VA 24502-2829
      View Details

    Similar Nearby for Sale

    • $205,000
      4,500 SF

      Commercial Property in High-Traffic Area

      Thriving storefront with storage, remodeled bathroom, suitable for retail/office.
      5218 Fort Ave, Lynchburg, VA 24502
      View Details
    • Contact for pricing
      10,037 SF

      Retail Property Near Liberty University

      Retail property near Liberty University with high traffic volume.
      5205 Fort Ave, Lynchburg, VA 24502
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    • $289,900
      1,666 SF

      Retail/Office Space with Ample Parking

      Versatile commercial space in a convenient Lynchburg location.
      5505 White Oak Dr, Lynchburg, VA 24502
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    • Contact for pricing
      8,000 SF

      Retail Building Available for Lease

      8,000 SF retail building available for lease or purchase.
      22111 Timberlake Rd, Lynchburg, VA 24502
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      7,587 SF

      Lynchburg Restaurant Investment Opportunity

      Single-tenant LongHorn Steakhouse in Lynchburg, Virginia for sale.
      4042 Wards Rd, Lynchburg, VA 24502
      View Details
    • Contact for pricing
      2,250 SF

      Wyndhurst Development Office and Retail

      Two adjacent buildings in Wyndhurst Development suitable for office or retail.
      117 Northwynd Cir, Lynchburg, VA 24502
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      3,665 SF

      Wards Road Retail Opportunity

      Retail/office/restaurant spaces available in high-traffic Lynchburg location.
      14395 Wards Rd, Lynchburg, VA 24502
      View Details
    • Contact for pricing

      Retail and Office Spaces Available

      Retail and office spaces for lease in Lynchburg, Virginia.
      7713 Timberlake Rd, Lynchburg, VA 24502
      View Details
    • Contact for pricing
      4,100 SF

      Retail Space Near Kroger

      Retail space available near Kroger, Big Lots, and Walgreens.
      2104 Wards Rd, Lynchburg, VA 24502
      View Details
    • Contact for pricing
      3,814 SF

      Lynchburg Retail or Office Space

      3,814 SF suite suitable for retail or office use.
      7901 Timberlake Rd, Lynchburg, VA 24502
      View Details
    • Contact for pricing
      2,800 SF

      Retail Space Near Major Retailers

      Retail space available near Kroger, Walmart, and other major retailers.
      2110-2150 Wards Rd, Lynchburg, VA 24502
      View Details
    • Contact for pricing
      3,300 SF

      Retail Space in Prime Location

      3,300 SF retail space in Lynchburg, divisible.
      7916-8000 Timberlake Rd, Lynchburg, VA 24502
      View Details
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    Lynchburg, VA 24502-5309
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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