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3102-3114 Memorial Ave 10,980 SF 100% Leased Retail Building Lynchburg, VA 24501 $750,000 ($68.31/SF) 8.33% Cap Rate
Executive Summary
Great investment opportunity on an established retail corridor in midtown Lynchburg, Stable occupancy with successful tenants. Short term leases give opportunity for upside income potential. Please call or email to discuss.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
10,980 SF
Building Class
B
Year Built/Renovated
1925/2010
Price
$750,000
Price Per SF
$68.31
Cap Rate
8.33%
NOI
$62,469
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.44
Lot Size
0.57 AC
Zoning
B3 - Zoned B-3 Business which allows for a number of retail and office uses
Parking
30 Spaces (2.73 Spaces per 1,000 SF Leased)
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- All Christ Nation
- Services
- 3,100 SF
- -
- -
- Dragon Fire Games
- Retailer
- 2,500 SF
- -
- -
- Lucky Penny Tattoos
- Services
- 1,400 SF
- -
- -
- Monile Construction
- Construction
- 1,400 SF
- -
- -
- Nails #2
- Services
- 1,300 SF
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| All Christ Nation | Services | 3,100 SF | - | - | ||
| Dragon Fire Games | Retailer | 2,500 SF | - | - | ||
| Lucky Penny Tattoos | Services | 1,400 SF | - | - | ||
| Monile Construction | Construction | 1,400 SF | - | - | ||
| Nails #2 | Services | 1,300 SF | - | - |
Fairly walkable
50/100
Moderately drivable
60/100
Some public transit
40/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 030-06-009 | Improvements Assessment | $114,300 |
| Land Assessment | $38,900 | Total Assessment | $153,200 |
Property Taxes
Parcel Number
030-06-009
Land Assessment
$38,900
Improvements Assessment
$114,300
Total Assessment
$153,200
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3102-3114 Memorial Ave
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