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Property profile & analytics
OFF-MARKET
Estimated value
$12,585,000
Retail properties & Spaces
2315 Wards Rd Lynchburg, VA 24502-2101
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-1389142
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1964
Total area
88,000 SF
Lot
6.88 ac (299,562 SF)
Zoning code
B3
APN
161 01 023
UPID
US87-1389142
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Hobby Lobby (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$16.43M
Comparable Approach
Comparable
$12.81M
Blend (final)
Blend
$12.59M
Owner & transaction history
Lu Wards Road Center Holdings LLC · 8 yrs held
Lu Wards Road Center Holdings LLC
since 2018
1 recorded transaction
Zoning & alternative use
B3 · Lynchburg, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The B-3 district is intended to provide for office, retail and service uses meeting the needs of the community as a whole
Zone name
Community Business District
General category
COMMERCIAL
Zone area
993.72 ac
Source
Realmo
Top alternative use upside
Restaurant
$18.6M
+30.3%
Auto repair, garage
$17.9M
+25.0%
Medical building
$15.7M
+9.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lynchburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lynchburg submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$17,795,000
6.5%
$16,425,000
7%
$15,255,000
Alternative Use
Use
Estimation
RETAIL STORES
$14,310,000
Current use
RESTAURANT
$18,640,000
Change: +30% · Conversion: Easy
AUTO REPAIR, GARAGE
$17,880,000
Change: +25% · Conversion: Difficult
MEDICAL BUILDING
$15,675,000
Change: +10% · Conversion: Difficult
COMMERCIAL (GENERAL)
$13,580,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$12.59M
Range $11.33M – $13.84M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$143 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$84,105
Tax year 2024
Assessed value
$9,450,000
Assessed 2024
Previous assessed
$9,450,000
+0.0% YoY
Effective rate
0.89%
On assessed value
Assessed land
$2,063,100
Assessed improvement
$7,386,900
Land market value
$2,063,100
Improvement market value
$7,386,900
Total market value
$9,450,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1964
Heating
NONE
Buildings
1
Stories
1
Total area
88,000 SF
Lot
6.88 ac (299,562 SF)
Zoning code
B3
APN
161 01 023
UPID
US87-1389142
Jurisdiction
LYNCHBURG CITY
Zoning & alternative use
B3 · Lynchburg, VAZoning B3 · permitted uses
B3 · Lynchburg, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The B-3 district is intended to provide for office, retail and service uses meeting the needs of the community as a whole
Zone name
Community Business District
General category
COMMERCIAL
Zone area
993.72 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$14.3M
RESTAURANT
Est. value
$18.6M
AUTO REPAIR, GARAGE
Est. value
$17.9M
MEDICAL BUILDING
Est. value
$15.7M
COMMERCIAL (GENERAL)
Est. value
$13.6M
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1964
Heating
NONE
Stories
1
Buildings
1
Lot
6.88 ac
Current owner
From public records · entity-resolved
Lu Wards Road Center Holdings LLC
Entity
Free & Clear · 8 yrs held
Mailing address
3333 BEVERLY RD, LYNCHBURG, VA 24515-0001
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 30, 2018
$4,850,000
Lu Wards Road Center Holdings LLC
Riggs And Lombard INC
Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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