2613 Wards RdLynchburg, VA 24502
- Retail properties
- 6,500 SF
Property Details for 2613 Wards Rd
- Year built
- 1985
- Lot size
- 0.69 AC
- Property size (Sq ft)
- 6,500 SF
- Zone code
- B5
- Property type
- Retail properties
- Property subtype
- Community centers
- APN
- 162 28 038
- APU
- 16228038
Description
This exceptional investment opportunity presents a 6,500 square foot retail storefront located at 2613 Wards Road in Lynchburg, Virginia. The property boasts a strong 7.52% capitalization rate and a Net Operating Income (NOI) of $59,780, making it an attractive addition to any portfolio. The building, situated on a 0.68-acre lot, is a single-story structure with three units currently occupied by two tenants under a multi-tenant net lease agreement. The asking price is $795,000, translating to a price per square foot of $122.31. The property is zoned B-5 and offers significant value-add potential. Its prime location on Wards Road, a high-traffic area with a daily vehicle count of 12,000, places it directly across from the substantial River Ridge Mall (423,132 square feet of retail space), ensuring high visibility and foot traffic. This well-positioned retail center presents a compelling investment opportunity with strong potential for future growth and returns. The property features one building with a total of three units.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,428,239
- 6.5%
- $1,318,374
- 7%
- $1,224,204
-
Comparable approach
- Method
- Valuation
- Relative Method
- $3,759,865
- Geo Method
- $3,759,865
-
Alternative Use
- Use
- Valuation
- Residential
- $1,112,098
- Hospitality
- $1,018,676
- Educational
- $847,526
- Medical
- $876,674
- Retail
- $1,318,374
Location Insight
- City
- Lynchburg
- County
- Lynchburg City
- State
- Virginia
- Latitude
- 37.3635
- Longitude
- -79.1823
- 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
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