Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    3121 Albert Lankford Dr Lynchburg, VA 24501-4948

    • Turn key restaurants
    • 6,529 SF
    • 3.08 lot acres
    OFF-MARKET
    Value Estimation
    $2,225,000
    Last Sale
    May 17, 2023
    $2,150,000
    Location Intelligence
    Property ID
    US87-1705426
    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

    • Outback Steakhouse / Steak House / American Restaurant
    • Outback / Australian Restaurant

    Property Details for 3121 Albert Lankford Dr

    Year built
    1997
    Lot size
    3.08 lot acres
    Property size
    6,529 SF
    Zone code
    B5C
    Property type
    Turn key restaurants
    APN
    051 03 003
    APU
    5103003

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $2,245,000

    • CAP approach

      CAP return
      Estimation
      6%
      $2,205,000
      6.5%
      $2,175,000
      7%
      $2,205,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $2,170,000
      Geo Method
      $2,070,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $2,495,000
      Retail
      $1,805,000
      Mixed-Use
      $2,390,000
      Hospitality
      $2,155,000
      Educational
      $2,330,000
      Residential Income
      $1,965,000
      Energy
      $1,885,000
      Income-Based Land
      $2,480,000
      Food Service
      $2,415,000

    Location Insight

    • Map
    • Local Demand
    City
    Lynchburg
    County
    Lynchburg City
    State
    Virginia
    Longitude
    -79.1648
    Latitude
    37.3868
    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
    $20,311
    $924,900
    $1,357,200
    $2,282,100
    -
    $924,900
    $1,357,200
    $2,282,100

    Comparable in this City

    • Value Estimation
      $335,000
      4,907 SF

      1223 Campbell Ave

      RESTAURANT • 4,907 SF
      1223 Campbell Ave, Lynchburg, VA 24501-2815
      View Details
    • Value Estimation by Request
      9,836 SF

      3226 Old Frst Rd

      RESTAURANT • 9,836 SF
      3226 Old Frst Rd, Lynchburg, VA 24501-2336
      View Details
    • Value Estimation by Request
      7,497 SF

      3220 Old Frst Rd

      RESTAURANT • 7,497 SF
      3220 Old Frst Rd, Lynchburg, VA 24501-2336
      View Details
    • Value Estimation by Request
      8,128 SF

      2804 Old Frst Rd

      RESTAURANT • 8,128 SF
      2804 Old Frst Rd, Lynchburg, VA 24501-2338
      View Details
    • Value Estimation
      $435,000
      13,080 SF

      3009 Old Frst Rd

      RESTAURANT • 13,080 SF
      3009 Old Frst Rd, Lynchburg, VA 24501-2321
      View Details
    • Value Estimation
      $245,000
      2,516 SF

      3313 Old Frst Rd

      RESTAURANT • 2,516 SF
      3313 Old Frst Rd, Lynchburg, VA 24501-2938
      View Details

    Similar Nearby for Sale

    • $399,000
      2,230 SF

      Renovated Retail/Office with Drive-Through

      2,230 SF renovated retail/office space with drive-through for sale.
      1110 Campbell Ave, 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
    • $750,000
      4,670 SF

      Lynchburg Office Building For Sale

      Versatile 4,670 SF Office, High Traffic
      3211 Old Forest Rd, Lynchburg, VA 24501
      View Details
    • $499,900
      4,000 SF

      Retail Property in Lynchburg, VA

      Retail property available for sale in Lynchburg, Virginia.
      115 Oakley Ave, Lynchburg, VA 24501
      View Details
    • $275,000
      2 SF

      Lynchburg Commercial Property on 12th

      Three-building commercial property with karate studio and auto shop.
      1622 12 St Lynchburg, Lynchburg, VA 24501
      View Details
    • $525,000
      2,230 SF

      Lynchburg Storefront - Prime Location

      Renovated Storefront, High-Traffic Area
      1110 Campbell Ave, Lynchburg, VA 24501
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,000 SF

      Retail Space in Shadow Anchored Center

      Up to 10,000 SF available in Lynchburg, Virginia.
      3213 Forest Brook Rd, 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
    • $18 SF/Yr
      1,200 SF

      Retail Space on Langhorne Road

      Well-located retail space available for rent on Langhorne Road.
      2201 Langhorne Rd, Lynchburg, VA 24501
      View Details
    • $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
    • $36 SF/Yr
      10,000 SF

      Fresh Market Station Retail Space

      Lynchburg, VA retail space available.
      3901 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
    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.
    3121 Albert Lankford Dr
    Lynchburg, VA 24501-4948
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    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.

    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.

    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.