Listed by Serafin Real Estate
Unpriced
Multi-Tenant Retail Investment | Leesburg, VA
Details
Property Type Mixed Use, Multifamily
Sub Type Other
Square Footage 11,466
Units 24
Occupancy 100%
Year Built 1940
Year Renovated 2020
Buildings 2
Stories 4
Acreage 0.550
Zoning LB:B1
Ground Lease No
Mixed Use | 11,466 SqFt
Marketing description
Stabilized multi-tenant retail investment in the heart of downtown Leesburg with significant mark-to-market upside. The 11,466 SF property sits on a 0.55-acre corner at Church and South Streets, fully leased to 10 tenants generating $286,765 in gross income and $218,043 in NOI. Multiple in-place leases are materially below current downtown market rates, with an estimated $55,000–$90,000 of annual rent growth achievable through routine re-leasing as leases roll over the next 12 to 24 months. Diverse tenancy includes retail, office, residential, and creative-use users.
Investment highlights
- Fully leased, stabilized income — 11,466 SF across three buildings, 100% occupied by 10 diversified tenants generating $286,765 in gross income and $218,043 NOI.
- Significant mark-to-market upside — Multiple in-place leases below current downtown market rates, with an estimated $55K–$90K of annual rent growth achievable through routine re-leasing, equating to roughly $850K–$1.5M in value creation at market cap rates.
- Near-term lease rollover — Three of the most below-market suites totaling 5,554 SF have leases expiring within the next 12 to 24 months, providing a clear, low-risk path to NOI growth.
- Prime downtown Leesburg corner location — One block off King Street and steps from Tuscarora Mill, South Street Under, the Loudoun County Courthouse, and the W&OD Trail.
- Affluent, growing trade area — Five-mile average household income of $219,101, Loudoun County median HHI of $170,463, and a downtown Leesburg residential base with continued boutique retail demand.
Listing Contacts
Listed by Serafin Real Estate
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