Commercial Properties on Lakeside Dr. for Investment or Development (restaurant, gas station, office and more)

Lynchburg, VA
FOR SALE

Property Location

2326-2332 Lakeside Dr
Lynchburg, VA 24501

Auction Location

105B Tradewynd Dr
Lynchburg, VA 24502

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
    • 1,289 sq.ft. office built in 1950 (leased)
    • 1,520 sq.ft. pole building (leased)
    • 1,680 sq.ft. pole building (leased)
  • Current income is $2,810/month

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)
    • 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.

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. Registration begins at 11:30 AM day of sale. Please bring a valid form of identification (i.e. driver’s license). Online bidders please register at least 24 hours prior to the auction.
Announcements:
Announcements made on day of sale take precedence over all prior communications, both verbal and written, concerning the sale of the Property.
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.
Approval:
High bid is subject to approval by seller.
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.