The Lynchburg Neighborhood Newsletter #6 - December 14, 2020
The Lynchburg Neighborhood Newsletter - December 14, 2020
A newsletter about Lynchburg, commercial real estate, and other good stuff that I'm hearing, reading, and seeing in our neighborhood.
As a commercial real estate broker and appraiser, I try to follow my market like a determined reporter that doesn't want to miss a single thing that happens on my beat. Collecting and studying comparables is a crucial part of the work. We try to track what sells and watch what happens next. For example: Back in 2019, the City Auditorium at 1112 Main Street in Downtown Lynchburg sold for $800,000 with plans for a music venue. We research and write it up as a new "Sale Comp", but that's not the end of the story. The property is back up for sale with an asking price of $1,400,000, which makes it a "Listing Comp" for us to consider now. To give you a quick look at what else is happening in our market, I wrote an article detailing five downtown sales from the Lynchburg, Virginia area. You can read it here on LinkedIn or on our website.
Real Estate
A roundup of recent real estate stories, news, and links that you need to know:
New Bagel Shop Hits Rivermont Near Downtown (WSET)
Caesars Casino Announced for Danville (WSET)
Danville Receiving $15 Million from Caesars (WSLS)
Proposed Old Forest Road Apartments Rejected by Lynchburg City Council (News & Advance)
Mixed-Use Property Available For Sale or Lease Next to Randolph College (Hansen Realty Advisors website)
Closing of Timberlake Road Country Cookin Restaurant (News & Advance)
Big Changes Planned for Boonsboro Villages Shopping Center (WSET)
Timberlake Mixed-Use Project Faces Neighborhood Opposition (News & Advance)
Office Space Available for Lease just off Wards Road (Hansen Realty Advisors website)
60-Lot Patio Home Development Approved by Campbell County (News & Advance)
Apartments Planned for Old Mill Road in Lynchburg (News & Advance)
Speculation about What Happens Next for former Dick's Sporting Goods (WSET)
New Retail & Office Planned for Waterlick in Campbell County (News & Advance)
Neighborhood Concerns over the Redevelopment of Odd Fellows Home Site into Residential Subdivision (News & Advance)
New Tractor Supply Under Construction in Forest (Bedford EDA)
Former LSC Communications Property Sells (News & Advance)
Two Retail Units Available For Lease on Langhorne Road in Lynchburg (Hansen Realty Advisors website)
Mister Goodies Moves to Forest (News & Advance)
Investment Property Available For Sale in Madison Heights (Hansen Realty Advisors website)
Ghost Kitchen Coming to Downtown (News & Advance)
Medical Cannabis Cultivator may be coming to Nelson County (News & Advance)
City Auditorium Up For Sale Again After Being Purchased in 2019 for Planned Music Venue (News & Advance)
Good Stuff
Downtown Businesses & Properties Spread Holiday Cheer by Decorating for Christmas. Downtown Lynchburg Association has the details on a Walking Tour to check them all out. (Downtown Lynchburg Assocation)
Johnson Health Center Bringing Mobile Dental Clinic to the Area (News & Advance)
Mustache Growers Raise Serious Money for Kids in Lynchburg area (WSET)
After a rocky year for baseball filled with uncertainty, the Cleveland Indians announce that the Lynchburg Hillcats will be their Low-A Affiliate, keeping minor league baseball here in town. (MILB)
Lynchburg Neighborhood Podcast
Episode 21: Audrey Barbour on Tinbridge Hill - Born in 1938, Aubrey "Chub" Barbour has lived in the Tinbridge Hill neighborhood his entire life. In this conversation, Mr. Barbour shares about the rich history of his neighborhood, what it was like to grow up on Polk Street, his early love of music, his 42 years as the supervisor of the Yoder Center, and his diligent work in the Tinbridge Hill community garden providing fresh produce to his neighbors.
Episode 22: Kim Payne + Local Government - In this episode, I sit down with former Lynchburg city manager Kim Payne to talk about his early childhood years growing up here, his life in local government, downtown revitalization, what makes a good city council member, and how things get done in our city.
Listen here at lynchburgneighborhood.com, on Apple Podcasts, or wherever you get your podcasts.
Thanks for reading! Do you know someone that would enjoy this newsletter? Forward this email to them and invite them to sign up here. As always, reach out if I can ever help you in any way.
Billy Hansen, MAI
Principal Broker & Commercial Real Estate Appraiser
Hansen Realty Advisors, LLC
434-942-2245
billy@hansenrealtyadvisors.com
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