408 Federal StLynchburg, VA 24504

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 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.

• 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

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