408 Federal StLynchburg, VA 24504
- Retail properties
- 8,144 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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