8004 Timberlake RdLynchburg, VA 24502

Property Details for 8004 Timberlake Rd

Year built

2023

Lot size

2.04 AC

Property size (Sq ft)

2,656 SF

Zone code

B3

Property type

Retail properties

Property subtype

Community centers

APN

254 14 003

APU

25414003

Description

Oakwood Plaza, a brand-new Class A retail center in Lynchburg, VA, offers 9,000 square feet of prime retail space. Built in 2023, this property sits on 2 acres of land and is zoned B-3. The center boasts excellent visibility and high traffic counts due to its strategic location on Timberlake Road, near major retailers such as Sheetz, Wendy's, Kroger, Lowe's, and numerous medical offices. It's also less than 10 minutes from Liberty University. The property features abundant parking and easy access. Individual suites range from 1,500 to 9,000 contiguous square feet, with a minimum divisible space of 1,500 square feet. The property is currently configured as a single suite, but can be subdivided. This location benefits from its proximity to other retail centers, restaurants, entertainment venues, schools, and multi-family residential areas. The rental rate is $29.00 per square foot, plus $2.00 per square foot for common area maintenance (CAM). This presents a unique opportunity for businesses seeking high-traffic exposure in a thriving Lynchburg community. The address is 8004 Timberlake Road, Lynchburg, VA 24502.

• CAP approach

  CAP return

  Valuation

  6%

  $583,600

  6.5%

  $538,708

  7%

  $500,229

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,536,339

  Geo Method

  $1,536,339

• Alternative Use

  Use

  Valuation

  Residential

  $454,420

  Hospitality

  $416,247

  Educational

  $346,312

  Medical

  $358,222

  Retail

  $538,708

Location Insight

City

Lynchburg

County

Lynchburg City

State

Virginia

Latitude

37.3495

Longitude

-79.2293

CBSA code

31340

CBSA name

LYNCHBURG, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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