Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    9 Loudoun St N Winchester, VA 22601

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $3,999,000

    Iconic Leggetts Building with diverse tenants in prime location.

    Lot size:
    0.37 Acres

    Property Features for 9 Loudoun St N

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.37 Acres

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Lori Fountain Bales
    Lori Fountain Bales
    Source: Elliman

    Listing Agency: KELLER WILLIAMS REALTY Listing Agent: Lori Fountain Bales

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Historic Downtown Winchester Investment Opportunity

    Located in the heart of Historic Downtown Winchester, the Leggetts Building presents a unique investment opportunity. Situated on the vibrant Pedestrian Mall, this property comprises three addresses in one, accommodating a diverse tenant base across three finished floors of retail and office space. The well-maintained building benefits from access via both Loudoun Street and Indian Alley, ensuring excellent foot traffic and visibility. A notable feature is the Bright Center, which formerly housed Winchester’s first escalator and now contains a carpeted staircase within the Bright Box Theater. Other key tenants include Worlds Away Escape Room and Exotic Himalayan Shop, contributing to the building’s eclectic character. The property is professionally managed and is located steps from Boscawen Street, surrounded by historic landmarks such as the Shenandoah Valley Civil War Museum. The property is suitable for retail and office space in a thriving downtown area. The cap rate is approximately 6.17%.
    Location Intelligence

    Current Use by Public Records

    Worlds Away Escape Arcade & Gaming Center Hofmann Lewis MD Physician Nexus Box LLC Marketing & Advertising Darling Robert G ... Physician Michael Works LLC Alternative Medicine Practice

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Winchester
    County
    Frederick
    State
    Virginia
    Longitude
    -78.1656734
    Latitude
    39.1843981

    Nearby Similar for Sale

    • $999,000
      10,000 SF

      High Traffic Retail Opportunity

      High-visibility retail property on 0.82 acres, ideal for various businesses.
      1694 Berryville Ave, Winchester, VA 22602
      View Details
    • $605,000
      4,396 SF

      Downtown Winchester Triplex Investment Opportunity

      Turnkey triplex in downtown Winchester with strong cash flow.
      540 Monticello St, Winchester, VA 22601
      View Details
    • $1,512,000

      Downtown Winchester Office Building For Sale

      Prestigious office building in the heart of downtown Winchester.
      38 Rouss Ave, Winchester, VA 22601
      View Details
    • $380,000

      Office Condo in Winchester, VA

      2000 SF office condo in excellent condition and location.
      240 Airport Rd, Winchester, VA 22602
      View Details
    • $339,000
      1,249 SF

      Winchester Multifamily Investment Opportunity

      Multifamily property with $36,000 rental income near Old Town.
      45 Race St, Winchester, VA 22601
      View Details
    • $516,014

      Winchester Office Investment Opportunity

      Leased office space in Winchester, VA, with long-term tenant.
      230 Airport Rd, Winchester, VA 22602
      View Details
    • $1,500,000
      9,000 SF

      Downtown Winchester Mixed-Use Redevelopment Opportunity

      B1-zoned property with income, redevelopment potential, and downtown location.
      314 N Braddock St, Winchester, VA 22601
      View Details
    • $300,000
      1,420 SF

      Versatile Retail/Office Space Available

      1420 SF space suitable for retail, office, or service.
      3343 Valley Pike, Winchester, VA 22602
      View Details
    • $380,000

      Office Condo For Sale

      2000 SF office condo in excellent condition and location.
      240 Airport Rd, Winchester, VA 22602
      View Details
    • $899,000

      Leased Flex/Industrial Investment Opportunity

      Leased flex/industrial property for sale near I-81 in Winchester.
      250 Airport Rd, Winchester, VA 22602
      View Details
    • Contact for pricing

      Downtown Winchester Double Office Suite

      Full-service office suites in Old Town Winchester.
      116 W Piccadilly St, Winchester, VA 22601
      View Details
    • Contact for pricing

      Land For Sale Winchester, VA

      Land available for purchase in Winchester, Virginia.
      Winchester, VA 22602
      View Details

    FAQs

    What type of property is this?
    Retail space - Iconic Leggetts Building with diverse tenants in prime location.
    Where is this retail space located?
    The property is located at 9 Loudoun St N Winchester, VA.
    What is the asking price?
    The asking price for this property is $3,999,000.
    What are key features of this property?
    This property features: - Prime location in the heart of Historic Downtown Winchester on the Pedestrian Mall.; - Diverse tenant base across three finished floors of retail and office space.; - Access from both Loudoun Street and Indian Alley, providing excellent foot traffic and visibility.
    (540) 974-1542
    Request Owner's contact information
    9 Loudoun St N Winchester, VA 22601
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    9 Loudoun St N
    Winchester, VA 22601
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    9 Loudoun St N Winchester, VA 22601
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Lori Fountain Bales
    Lori Fountain Bales
    Real Estate License ID: 0225229904
    (540) 974-1542 (540) 662-9937 (703) 669-0099
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!