408 Federal St Lynchburg, VA 24504
Property profile & analytics
408 Federal St Lynchburg, VA 24504
- Retail space
- 8,144 SF
- 0.81 lot acres
Property ID
US87-1470048
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.
Location Intelligence
Current Use by Public Records
- Family Dollar / Discount Store
Property Details for 408 Federal St
- Year built
- 2016
- Lot size
- 0.81 lot acres
- Property size
- 8,144 SF
- Zone code
- B6
- Property type
- Retail space
- APN
- 024 10 001
- APU
- 2410001
Description
This exceptional 8,144-square-foot freestanding retail building, constructed in 2016, presents a unique investment opportunity in Lynchburg, Virginia. Situated on a 0.81-acre lot at the highly visible corner of Fifth and Federal Streets, this property benefits from its strategic location along a major thoroughfare leading to the revitalized Lynchburg Downtown area. The building boasts 25 paved parking spaces, ensuring ample customer convenience. The property's robust infrastructure includes a 400A, 3-phase electrical service, along with access to public water and sewer. Its B-4 zoning designation offers considerable flexibility for a wide range of commercial uses, maximizing potential returns. Adding to its appeal, this property is situated within a designated Opportunity Zone, Enterprise Zone, and Revitalization Zone, providing significant tax advantages and incentives for investors. The building's modern construction and prime location, combined with the numerous economic development incentives, make this an unparalleled opportunity for savvy investors seeking a high-return commercial property in a thriving urban setting. The recent and ongoing redevelopment efforts in the surrounding area further enhance the long-term growth potential of this exceptional asset. This is a rare chance to acquire a well-maintained, strategically located commercial building in a dynamic and rapidly developing area of Lynchburg.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- ML approach
- $385,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $607,000
Market price range: $242k - $608k -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $955,000 Current use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Lynchburg
- County
- Lynchburg City
- State
- Virginia
- Longitude
- -79.1509
- Latitude
- 37.4157
- 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
$15,086
$351,500
$1,343,500
$1,695,000
-
$351,500
$1,343,500
$1,695,000
