Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2249 Murrell Rd Lynchburg, VA 24501-2131
    Back to Search
    Property profile & analytics

    2249 Murrell Rd Lynchburg, VA 24501-2131

    View on Map
    • Assisted living facilities
    • 21,623 SF
    • 4.27 lot acres
    Off-Market
    Last Sale Jun 24, 2025
    $5,000,000
    Property ID
    US87-1471486
    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.
    Value Estimations
    $5,000,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The Elms of Lynchburg / Nursing Home / Retirement Community

    Property Details for 2249 Murrell Rd

    Year built
    1992
    Construction
    FRAME
    Lot size
    4.27 lot acres
    Property size
    21,623 SF
    Zone code
    R4
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    005 01 010
    APU
    501010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lynchburg
    County
    Lynchburg City
    State
    Virginia
    Longitude
    -79.1723
    Latitude
    37.4076
    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
    $30,705
    $640,700
    $2,809,300
    $3,450,000
    -
    $640,700
    $2,809,300
    $3,450,000

    Comparable in this City

    • Value Estimation
      $9,340,000
      40,523 SF

      2081 Langhorne Rd

      HOMES (RETIRED, NURSING) • 40,523 SF
      2081 Langhorne Rd, Lynchburg, VA 24501-1443
      View Details
    • Value Estimation
      $7,500,000
      35,668 SF

      2406 Atherholt Rd

      HOMES (RETIRED, NURSING) • 35,668 SF
      2406 Atherholt Rd, Lynchburg, VA 24501-2148
      View Details
    • Value Estimation
      $885,000
      38,489 SF

      2200 Landover Pl

      HOMES (RETIRED, NURSING) • 38,489 SF
      2200 Landover Pl, Lynchburg, VA 24501-2116
      View Details
    • Value Estimation by Request
      3,004 SF

      3209 Memorial Ave

      HOMES (RETIRED, NURSING) • 3,004 SF
      3209 Memorial Ave, Lynchburg, VA 24501-6211
      View Details
    • Value Estimation
      $3,210,000
      27,408 SF

      2215 Landover Pl

      MEDICAL BUILDING • 27,408 SF
      2215 Landover Pl, Lynchburg, VA 24501-2115
      View Details
    • Value Estimation by Request
      19,910 SF

      2401 Atherholt Rd

      MEDICAL BUILDING • 19,910 SF
      2401 Atherholt Rd, Lynchburg, VA 24501-2184
      View Details

    Similar Nearby for Sale

    • $799,000

      Renovated Office Space Near Hospital

      Renovated office space adaptable for single or multiple tenants.
      1928 Thomson Dr, Lynchburg, VA 24501
      View Details
    • $299,900
      1,689 SF

      Lynchburg Commercial Investment Opportunity

      Office space on Lakeside Drive, potential for business conversion.
      1401 Lakeside Dr, Lynchburg, VA 24501
      View Details
    • Contact for pricing
      Pending

      Medical Office Condominium For Sale

      3,000 SF medical office condo in Lynchburg's Lakeside Office Park.
      2137 Lakeside Dr, Lynchburg, VA 24501
      View Details
    • $350,000

      2.14 Acres in Mid-Town Lynchburg

      2.14 acres in Lynchburg's Mid-Town commercial district, ideal for development.
      2612 Norma St, Lynchburg, VA 24501
      View Details
    • $1,695,000
      10,113 SF

      Retail Building on Corner Lot

      10,113 SF building on 1.106 AC corner lot.
      3100 Old Forest Rd, Lynchburg, VA 24501
      View Details
    • Contact for pricing

      Lynchburg Office/Light Industrial Site

      Prime commercial land suitable for office, R&D, or light industrial.
      201 Jefferson Ridge Pkwy, Lynchburg, VA 24501
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      910 SF

      Office/Retail Space on Old Forest

      910 Sq. Ft. office/retail unit in highly visible location.
      3831 Old Forest Rd, Lynchburg, VA 24501
      View Details
    • $12 SF/Yr
      700 SF

      +/- 700 SF Office Space For Lease

      +/- 700 SF Office Space For Lease
      3622 Old Forest Road, Lynchburg, VA 24501
      View Details
    • Contact for pricing
      4,300 SF

      Office/Retail Space Near University

      Office/retail space for rent near the University of Lynchburg.
      254 Oakley Ave, Lynchburg, VA 24501
      View Details
    • $32 SF/Yr
      2,400 SF

      Retail Space Near Liberty University

      Retail space with high visibility near Liberty University.
      120 Simons Run, Lynchburg, VA 24501
      View Details
    • Contact for pricing
      2,000 SF

      Office/Retail Space Near University

      Office/retail space for rent near the University of Lynchburg.
      258 Oakley Ave, Lynchburg, VA 24501
      View Details
    • Contact for pricing

      Retail/Office Space Available

      Single tenant retail or office space for rent.
      2608 Lakeside Dr, Lynchburg, VA 24501
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2249 Murrell Rd
    Lynchburg, VA 24501-2131
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2249 Murrell Rd, Lynchburg, VA, 24501
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!