Development Opportunity in Historic Lynchburg
1300 Campbell Avenue Lynchburg Virginia 24501
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Historic Building in Lynchburg, VA. Located in the Kemper Street Industrial Historic District in Lynchburg, VA – 1300 Campbell Ave offers a developer a chance to transform a beautiful industrial building into 105 loft style apartments. Built in 1919 and known locally as the Barker Jennings Building, the property sits on 2.25 acres at the crossroads between Lynchburg’s historic downtown and the fast-growing Liberty University. The population count within 10 miles is 150,000.
The building qualifies for Federal and State Historic Tax Credits that will assist development, and the city offers a tax abatement program. With 137,810 square feet and 108 parking spaces, the building offers the developer a scale that will transform the area and allow a strong amenity package. The floor plate for each of the 5 stories is 27,562 square feet allowing spacious, well-lit apartments. There is a Conditional Use Permit with the city of Lynchburg permitting the developer to build up to 105 units. The building is ready for development.
The building will make incredible apartments with its brick walls, high ceilings, beautiful hardwood floors and large industrial windows offering incredible views. The reuse of this property will be another nod to Lynchburg’s industrial history while assisting its bright future. Lynchburg has a diverse and stable economy with very positive population trends, robust employment trends and a moderate cost of living. It is a regional center for medical, higher education, finance, the arts and entertainment. It is definitely attracting a large share of the population moving from larger urban areas.
Ryan’s practice at One South Commercial focuses on investment and development site sales throughout Virginia. He brings a detailed, solutions-oriented approach to each transaction and has successfully represented a wide array of buyers and sellers on deals ranging from $1 million to $35 million. A Richmond native with a background in institutional real estate management, Ryan leverages a wide network of industry contacts and his experience “under the hood” to advise One South Commercial’s clients on everything from local sub-markets to national capital markets, and is ready and able to tackle anything in between.
Tom Rosman has been brokering investment real estate since the early 1990’s in the Richmond, VA, metro area. He has brought hundreds of transactions to a successful conclusion, including large apartment complexes, apartment buildings in historic neighborhoods, office buildings, retail properties, mixed use buildings, and numerous historic adaptive reuse properties.
Tom was one of the first brokers to recognize the transformative changes occurring in many of Richmond’s most architecturally significant but ignored neighborhoods. Having helped place many of the warehouses and other commercial structures in the hands of Richmond’s development community, Tom’s belief in what a property should be was never compromised by the condition it was in.
DISCLAIMER: This offering memorandum is intended as a reference for prospective purchasers in the evaluation of the property and its suitability for investment. Neither One South Commercial nor Seller make any representations or warranties with respect to the accuracy or completeness of the materials contained in the offering memorandum. Prospective purchasers should evaluate the property independently and rely solely on such independent evaluation in determining whether to purchase the property. The offering memorandum, pricing, and terms therein are subject to change or withdrawal at the discretion of Seller and One South Commercial, as Seller’s exclusive representative. *Information provided deemed reliable but not guaranteed
