For Sale
$4,070,000

225 Fort Evans RdLeesburg, VA 20176

Prime Loudoun County location, strong tenant, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 4,988 square foot Outback Steakhouse located at 225 Fort Evans Rd, Leesburg, VA 20176, within the affluent Loudoun County, a consistently top-ranked wealthiest county in the U.S. The property sits on a 1.1-acre lot and is a pad site to the Leesburg Premium Outlets, attracting over 3.1 million visitors annually. This single-tenant, ground lease property boasts a 100% occupancy rate with a strong corporate guarantee from Bloomin' Brands, Inc. The current lease, a Net Lease (NNN) agreement, commenced August 23, 2021, and has a remaining term of approximately 12 years, expiring August 31, 2036. The lease includes three, 5-year renewal options and features a 10% rent increase every five years, ensuring consistent income growth. The property's Net Operating Income (NOI) is $203,500, resulting in a 5.00% cap rate. Built in 2021, this one-story building is situated in a high barrier-to-entry market, with the Route 15 corridor in Leesburg experiencing high demand and limited pad site availability. The superior demographics, with a population exceeding 100,000 and an average household income over $172,000 within a 5-mile radius, further solidify this investment's potential. The asking price for this exceptional property is $4,070,000.

Highlights

  • Outback Steakhouse in affluent Leesburg, VA, a prime Washington, DC MSA suburban market.
  • Pad site at Leesburg Premium Outlets, attracting over 3.1 million annual visitors.
  • Located in Loudoun County, VA, consistently ranked the wealthiest county in the U.S.
  • Strong demographics: over 100,000 population and $172,000+ average household income within 5 miles.
  • NNN ground lease with Bloomin' Brands, Inc., 10% rent increases every 5 years, nearly 12 years remaining.
  • High-demand, limited-supply pad site in Leesburg's desirable Route 15 commercial corridor.

Property Details for 225 Fort Evans Rd

Property type
Retail properties, Restaurants
Square Feet
4,988 SF
Year Built
2021
Stories
1
Lot Size (sq. ft)
47,916 SF

Location Insight

City
Leesburg
County
Loudoun
State
Virginia
Latitude
39.1096465
Longitude
-77.5365049
225 Fort Evans Rd, Leesburg, Virginia

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225 Fort Evans Rd
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