Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$7,195,000
Retail properties & Spaces
2535 Wards Rd Lynchburg, VA 24502-2105
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US87-1782451
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1998
Total area
23,636 SF
Lot
2.71 ac (118,265 SF)
Zoning code
B5
APN
162 28 023
UPID
US87-1782451
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
-
US Foods CHEF'STORE Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.04M
CAP Approach
CAP
$4.41M
Comparable Approach
Comparable
$5.60M
Blend (final)
Blend
$7.20M
Owner & transaction history
Usf Lynchburg Erie 15/18 LLC · 3 yrs held
Usf Lynchburg Erie 15/18 LLC
since 2022
Last sale
$7.1M
2 recorded transactions
Zoning & alternative use
B5 · Lynchburg, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The B-5 district is intended to provide for a variety of commercial and similar uses that require large sites and which often produce substantial nuisance effects
Zone name
General Business District
General category
COMMERCIAL
Zone area
1,269.55 ac
Source
Realmo
Top alternative use upside
Apartment house (5+ units)
$5.7M
+47.2%
Restaurant
$5.0M
+30.3%
Auto repair, garage
$4.8M
+25.0%
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
$7,490,000
ML approach
$7,040,000
CAP Approach
CAP Return
Estimation
6%
$4,780,000
6.5%
$4,410,000
7%
$4,095,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$5,660,000
Change: +47% · Conversion: Difficult
RESTAURANT
$5,005,000
Change: +30% · Conversion: Easy
AUTO REPAIR, GARAGE
$4,805,000
Change: +25% · Conversion: Difficult
Blend value · Realmo final
$7.20M
Range $6.48M – $7.91M · ±10% · vs last sale $7.12M (Dec 14 2022)
Last sale anchor
$7.12M
Dec 14 2022
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
$304 / 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
$45,714
Tax year 2024
Assessed value
$5,136,400
Assessed 2024
Previous assessed
$5,136,400
+0.0% YoY
Effective rate
0.89%
On assessed value
Assessed land
$1,086,000
Assessed improvement
$4,050,400
Land market value
$1,086,000
Improvement market value
$4,050,400
Total market value
$5,136,400
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
1998
Heating
NONE
Buildings
1
Stories
1
Total area
23,636 SF
Lot
2.71 ac (118,265 SF)
Zoning code
B5
APN
162 28 023
UPID
US87-1782451
Jurisdiction
LYNCHBURG CITY
Zoning & alternative use
B5 · Lynchburg, VAZoning B5 · permitted uses
B5 · Lynchburg, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The B-5 district is intended to provide for a variety of commercial and similar uses that require large sites and which often produce substantial nuisance effects
Zone name
General Business District
General category
COMMERCIAL
Zone area
1,269.55 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.7M
RESTAURANT
Est. value
$5.0M
AUTO REPAIR, GARAGE
Est. value
$4.8M
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
AUTO REPAIR, GARAGE
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
1998
Heating
NONE
Stories
1
Buildings
1
Lot
2.71 ac
Current owner
From public records · entity-resolved
Usf Lynchburg Erie 15/18 LLC
Entity
Mailing address
PO BOX 29291, PHOENIX, AZ 85038-9291
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 14, 2022
$7,122,548
Usf Lynchburg Erie 15/18 LLC
Barclay Holdings Cvi LLC
Bargain And Sale Deed
$3,600,000 · Symertra Life Insurance Co
Oct 21, 2021
$2,000,000
Barclay Holdings Cvi LLC
National Retail Properties INC
Special Warranty Deed
$5,568,000 · Fip Lender LLC
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2535 Wards Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
