3100 Old Forest RdLynchburg, VA 24501

Property Details for 3100 Old Forest Rd

Year built

1998

Lot size

1.11 AC

Property size (Sq ft)

10,113 SF

Zone code

B3

Property type

Retail properties

Property subtype

Retail space

APN

169 01 002

APU

16901002

Description

This 10,113 square foot freestanding building sits on a 1.106-acre lot in Lynchburg, Virginia. Originally constructed in 1998 as a pharmacy with a drive-thru, this versatile property offers significant redevelopment potential. The B-3 Community Business zoning allows for a variety of uses, including retail, multi-tenant, or medical. The building boasts 53 paved parking spaces and a convenient drive-thru configuration. Its prime corner location at a signalized intersection ensures excellent visibility and accessibility, benefiting from over 21,000 vehicles per day. Additional features include public water and sewer access, and a large pylon sign. The asking price is $1,900,000, translating to $187.88 per square foot. This property presents a compelling investment opportunity in a high-traffic area with diverse redevelopment possibilities. The property's address is 3100 Old Forest Rd, Lynchburg, VA 24501, and its APN is 16901002.

• CAP approach

  CAP return

  Valuation

  6%

  $2,222,120

  6.5%

  $2,051,187

  7%

  $1,904,674

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,849,772

  Geo Method

  $5,849,772

• Alternative Use

  Use

  Valuation

  Residential

  $1,730,253

  Hospitality

  $1,584,903

  Educational

  $1,318,620

  Medical

  $1,363,970

  Retail

  $2,051,187

Location Insight

City

Lynchburg

County

Lynchburg City

State

Virginia

Latitude

37.415

Longitude

-79.2078

CBSA code

31340

CBSA name

LYNCHBURG, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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