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Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 11,466 sqft
Price per Sqft $435
MLS Listing ID VALO2095426
Originating Board BRIGHT
Year Built 1940
Annual Tax Amount $18,023
Tax Year 2025
Lot Size 0.550 Acres
Acres 0.55
Property Sub-Type Mixed Use
Property Description
Approved for 22 Units | Existing Income-Producing Retail | Prime Infill Site
Positioned in the heart of historic downtown Leesburg, this rare multifamily development opportunity offers a blend of immediate cash flow and long-term value. The property currently features two fully-leased retail buildings totaling 11,466 SF, generating a gross annual income of $279,778.
The site is approved for a new 4-story, 22-unit multifamily building with a maximum height of 65 feet and a total building square footage of approximately 25,000 SF. Each residential unit is planned at an ideal size of approximately 1,495 SF, catering to the demand for spacious, high-end living in one of Northern Virginia's most desirable downtown settings.
Highlights
Prime Downtown Leesburg Location: Situated in the heart of historic Leesburg, this infill site offers excellent visibility, walkability, and access to the area's top amenities including shops, dining, and entertainment.
Income-Producing Retail: Two fully leased retail buildings totaling 11,466 SF (212 Church: 2,102 SF | 208–210 Church: 9,364 SF) generate $279,778 in gross annual income, providing strong interim cash flow.
Approved Development Plan: The site is fully approved for a 22-unit multifamily building with a maximum height of 65 feet and four levels—eliminating entitlement risk and accelerating your development timeline.
Spacious Residential Design: Each unit is planned at approximately 1,495 SF, ideal for upscale rentals or boutique condominium product targeting professionals and affluent downsizers.
Attractive Investment Profile: Rare opportunity to acquire a shovel-ready, mixed-use site in one of Northern Virginia's fastest-growing and wealthiest counties—ideal for build-to-hold or build-to-sell strategies.
Strong Market Fundamentals: Leesburg's high-income demographics, limited multifamily inventory, and growing demand for walkable residential product support long-term value and rent growth potential.
Location
State VA
County Loudoun
Zoning LB:B1
Interior
Hot Water Natural Gas
Heating Central
Cooling Central A/C
Heat Source Natural Gas
Exterior
Garage Spaces 25.0
Water Access N
Roof Type Metal
Accessibility Level Entry - Main
Total Parking Spaces 25
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Loudoun County Public Schools
Others
Tax ID 231285888000
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
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Joseph Asterino
Broker Associate | License ID: AB066344
Broker Associate License ID: AB066344