4026 Wards RdLynchburg, VA 24502

Property Details for 4026 Wards Rd

Year built

2007

Lot size

0.86 AC

Property size (Sq ft)

8,107 SF

Zone code

B5C

Property type

Retail properties

Property subtype

Community centers

APN

257 05 014

APU

25705014

Description

This exceptional investment opportunity presents a 30,800 square foot, Class A, single-tenant retail storefront occupied by Sportsman's Warehouse, a credit-rated, publicly traded company (NASDAQ: SPWH). Located at 4026 Wards Rd, Lynchburg, VA 24502, this property boasts a prime location in the Wards Crossing Shopping Center, benefiting from high traffic counts exceeding 40,000 vehicles per day on Wards Road and over 42,000 VPD at the nearby intersection of Routes 460 and 29. The property enjoys immediate proximity to Liberty University, with its substantial student population of 96,709. Built in 2000 and extensively renovated in 2022, the building sits on a 4.32-acre lot. The current lease, commencing February 1, 2023, and expiring January 31, 2033, offers a remaining term of 8.2 years with four 5-year renewal options. Each renewal includes a 10% rent increase, providing excellent inflation protection. The current Net Operating Income (NOI) is $462,000, resulting in a 7.25% cap rate. The asking price is $6,375,000. Nearby retailers include Target, ALDI, PetSmart, Michaels, Best Buy, Barnes & Noble, and many more, further enhancing the property's desirability and strong tenant base. This NNN lease minimizes landlord responsibilities, making it an ideal investment opportunity with significant long-term potential.

• CAP approach

  CAP return

  Valuation

  6%

  $1,781,343

  6.5%

  $1,644,317

  7%

  $1,526,866

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,689,420

  Geo Method

  $4,689,420

• Alternative Use

  Use

  Valuation

  Residential

  $1,387,043

  Hospitality

  $1,270,524

  Educational

  $1,057,061

  Medical

  $1,093,415

  Retail

  $1,644,317

Location Insight

City

Lynchburg

County

Lynchburg City

State

Virginia

Latitude

37.3466

Longitude

-79.1916

CBSA code

31340

CBSA name

LYNCHBURG, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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