5 Fort Evans RdLeesburg, VA 20176

Property Details for 5 Fort Evans Rd

Year built

1981

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.69 AC

Property size (Sq ft)

5,897 SF

Zone code

LB:CDD

Property type

Turn key restaurants

APN

189-47-0391-000

APU

189470391000

Description

This exceptional 10,488-square-foot retail property in Leesburg, Virginia, presents a compelling investment opportunity. Located at 5 Fort Evans Rd NE, 20176, this multi-tenant, fee-simple property boasts a 5.00% cap rate and a strong net operating income (NOI) of $219,320. Currently 100% occupied with a mix of popular local restaurants, a barbershop, and a nail salon, the property benefits from below-market rents, offering significant upside potential through future lease adjustments. The 1.31-acre lot features excellent visibility and access, situated at the intersection of Market Street and Fort Evans Road, with a large monument sign and convenient ingress/egress points. Its strategic location near US Highway 15 and State Highway 7 ensures high traffic volume (80,000 vehicles daily). The property's proximity to a Giant Food-anchored shopping center, Leesburg Premium Outlets, and other national retailers like Costco, Home Depot, and Marshalls, creates a synergistic retail environment and strong consumer base. The 5-mile trade area boasts over 98,000 residents and 40,000 employees, with an average household income nearing $200,000, providing a robust and stable demographic profile. This net-lease investment offers a rare combination of strong current performance and significant future growth potential. The asking price is $4,386,000, representing a price per square foot of $418.19. This is a fee simple ownership (land and building) with no ground lease. The investment type is a multi-tenant net lease.

• CAP approach

  CAP return

  Valuation

  6%

  $2,063,213

  6.5%

  $1,904,504

  7%

  $1,768,468

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,971,196

  Geo Method

  $2,971,196

• Alternative Use

  Use

  Valuation

  Residential

  $1,606,521

  Hospitality

  $1,471,564

  Educational

  $1,224,324

  Medical

  $1,266,431

  Retail

  $1,904,504

Location Insight

City

Leesburg

County

Loudoun

State

Virginia

Latitude

39.1071

Longitude

-77.5481

CBSA code

47900

CBSA name

WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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