Commercial Properties in Lynchburg: Restaurant, Gas Station, Car Wash, 2 Offices

Property Location

2326-2332 Lakeside Dr
Lynchburg, VA 24501

Auction Location

Live auction held on site.
Online bidding available.

Details

• Great opportunity for investment or development
• Near major intersection (US-221 / US-501) with national retailers and restaurants including The Fresh Market, Petco, Mattress Warehouse, US Cellular, Member One Credit Union, Enterprise Rent-A-Car, Chipotle, Zoes Kitchen, Jersey Mikes, Panera Bread, Smoothie King, and more
• Total of 4.8 acres with 383' of frontage on Lakeside Dr
• Zoned B-5
• Public water and sewer
• Traffic count of 16,000 Vehicles Per Day
• Site has been cleared by the DEQ. Commonwealth Oil closed its storage facility in 2013 and successfully implemented a Corrective Action Plan and remediation to ensure the site was clear. Paperwork available.
• Offered in 2 tracts and as a whole

Tract 1: 2326 & 2328 Lakeside Dr (2.37 Acres)

• (2) tax parcels #23026005 and #23026006
• 200' of frontage on Lakeside Dr
• Improvements include:
  • 3,416 sq.ft. restaurant built in 1945 that has been leased by Country Kitchen since 1975 (leased month to month for $1,950/month NNN)
  • 1,289 sq.ft. office built in 1950 (leased month to month for $800/month includes pole buildings below)
  • 1,520 sq.ft. pole building
  • 1,680 sq.ft. pole building

Tract 2: 2330 & 2332 Lakeside Dr (2.408 Acres)

• (1) tax parcel #23026003
• 183' of frontage on Lakeside Dr
• Improvements include:
  • 3,062 sq.ft. gas station and car wash (self-service only; owner operated)
    • Approx 1,689 sq.ft. convenience store (vacant)
    • Fuel island with (3) gasoline pumps (self-service; credit card only)
    • Separate diesel pump
    • 3-bay car wash (1- Laserwash 4000 touchless automatic bay, 2- manual pressure wash bays)
    • (2) JE Adams car vacuum
    • Air pump
  • 735 sq.ft. office with lower level storage (currently vacant)

Directions To Property

From Lynchburg: take the Lynchburg Expressway / US-501N to US-221 intersection. RIGHT on Lakeside Dr. 1/4mi on left.

Preview Dates

By appointment only. Call for private showing.

REAL ESTATE AGENTS: 2% Commission Available. CLICK HERE to download the registration form.

Terms: Property sells "AS-IS, WHERE-IS" without warranties of any kind. Potential Buyers must perform such independent investigations with respect to the Property as they deem necessary to verify information provided by Auction Company.

Warranty: All information provided by Auction Company is deemed reliable but is not warranted. The information provided by the Auction Company is subject to verification by all parties relying on it. No liability for its accuracy, error or omission is assumed by the Auction Company.

Title: Seller will convey title by General Warranty Deed free and clear of all liens.

Registration: Bids will be accepted only from registered bidders. On-site registration begins at 2 PM day of sale. You may also pre-register on our website or phone app.  Deadline for phone and online bidding registration is 6PM EST on the day prior to the auction. A valid form of identification (i.e. driver's license) may be required to register onsite or online.

Online Bidding: Online bidding is available for your convenience. However, due to the technical nature of online bidding, bidder acknowledges that this service may or may not function correctly the day of the auction. Torrence, Read, & Forehand Auctions will not be responsible for missed bids from any source. Online bidders who desire to make certain their bid is acknowledged should use the prebidding function and leave their maximum bid 24 hours before the auction begins. Winning bidders will be notified by email and/or phone and receive instructions for signing the Contract of Purchase (must be returned within 24 hours) and submitting the Deposit (see below).

Announcements: Announcements made on day of sale take precedence over all prior communications, both verbal and written, concerning the sale of the Property.

Approval: Property sells absolute to the highest bidder(s).

Buyer's Premium: A 5% buyer's premium will be added to the high bid to determine the final sales price.

Deposit: Deposit equal to 10% of final contract price (bid price plus buyer's premium) due day of sale by cash or good check. Online bidders may overnight deposit or wire transfer funds so it is received within 2 business days.

Closing: Balance of Purchase Price shall be due at closing on or about 30 days after the sale.

Agency: The auction company and its representatives represent the sellers.