408 Federal StLynchburg, VA 24504

  • Retail properties
  • 8,144 SF
For Sale
$895,000 View listing

Property Details for 408 Federal St

Year built
2016
Lot size
0.81 AC
Property size (Sq ft)
8,144 SF
Zone code
B6
Property type
Retail properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,789,473
    6.5%
    $1,651,821
    7%
    $1,533,834
  • Comparable approach

    Method
    Valuation
    Relative Method
    $4,710,822
    Geo Method
    $4,710,822
  • Alternative Use

    Use
    Valuation
    Residential
    $1,393,373
    Hospitality
    $1,276,322
    Educational
    $1,061,885
    Medical
    $1,098,405
    Retail
    $1,651,821
408 Federal St, Lynchburg, Virginia

Location Insight

City
Lynchburg
County
Lynchburg City
State
Virginia
Latitude
37.4157
Longitude
-79.1509
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

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