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Property profile & analytics
OFF-MARKET
Estimated value
$4,180,000
Community centers
2323 Memorial Ave Lynchburg, VA 24501-2661
Entity Owned
13-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-1709153
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1959
Total area
337,791 SF
Lot
24.92 ac (1,085,559 SF)
Zoning code
B3
APN
004 06 001
UPID
US87-1709153
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
-
Mickey Nails Nail Salon
-
Modern Barber Shop Barber Shop
-
Peter A. Gibbs, DO Pediatrician Physician
-
Dr. Daniel M. Freed, MD Pediatrician Physician
-
Dr. Kaneez Salbia, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.18M
Owner & transaction history
City Of Lynchburg · 13 yrs held
City Of Lynchburg
since 2013
4 recorded transactions
Zoning & alternative use
B3 · Lynchburg, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$12 / 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
$75,695
Tax year 2024
Assessed value
$8,505,000
Assessed 2024
Previous assessed
$8,505,000
+0.0% YoY
Effective rate
0.89%
On assessed value
Assessed land
$4,984,200
Assessed improvement
$3,520,800
Land market value
$4,984,200
Improvement market value
$3,520,800
Total market value
$8,505,000
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1959
Heating
NONE
Buildings
4
Stories
1
Total area
337,791 SF
Lot
24.92 ac (1,085,559 SF)
Zoning code
B3
APN
004 06 001
UPID
US87-1709153
Jurisdiction
LYNCHBURG CITY
Zoning & alternative use
B3 · Lynchburg, VA
Zoning B3 · permitted uses
B3 · Lynchburg, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lynchburg. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1959
Heating
NONE
Stories
1
Buildings
4
Lot
24.92 ac
Current owner
From public records · entity-resolved
City Of Lynchburg
Entity
Free & Clear · 13 yrs held
Mailing address
1971 UNIVERSITY BLVD #2668, LYNCHBURG, VA 24515-0002
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 13, 2013
—
City Of Lynchburg
Lu Plaza Holdings LLC
Gift Deed
related
—
Dec 15, 2010
$3,120,000
Centra Health INC
Lu Plaza Holdings LLC
Special Warranty Deed
—
May 28, 2009
—
Lu Plaza Holdings LLC
Liberty University INC
Deed
—
Sep 24, 2007
—
Liberty University INC
Lynchburg Realty LLC
Gift Deed
related
—
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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