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    Mixed-Use Retail Office Center Title is generated by Realmo AI

    1602 & 1608 Village Market Blvd SE, Leesburg, VA 20175

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    Class-A office and open-air retail anchored by major tenants, with covered parking and strong regional highway access.

    Type:Office Condo
    Property size:
    7,459 SF
    Added:
    Jun 1, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 3 at 2:32 am

    Property Features for 1602 & 1608 Village Market Blvd SE

    General Information

    Standard status
    Active
    Size
    7,459 SF
    Property subtype
    Office Condo

    Properties For Sale

    at 1602 & 1608 Village Market Blvd SE Contact us

    We can help!

    Listing Contact
    Eamon McCrann
    Eamon McCrann

    Listing agent Eamon McCrann

    Listing office Lincoln Property Company | Arlington

    Listing date Jun 1, 2026

    Source Lpc

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

    All listing content including descriptions, pricing, images are the copyrighted material of Lincoln Property Company | Arlington

    HighLights

    • Village at Leesburg grand opening in 2011 as Loudoun County’s first mixed‑use center of its kind
    • Open‑air development with over 40 retailers and restaurants plus multi‑family residences, office, and retail space
    • Class‑A office building with high‑end finishes and first‑floor tenants including Wegmans Food Markets, Cobb Theatres, Sweet & Sassy, and Travinia Italian Kitchen
    • Convenient access to Route 7, Route 267, Route 28, and Route 15
    • Ample free covered parking on site
    • On‑site amenities include a pop‑up fountain, Wi‑Fi, firepits, and numerous free seasonal events

    Overview

    Village at Leesburg, opened in 2011, is a first-of-its-kind mixed-use center in Loudoun County. The open-air development combines retail and dining with class-A office space featuring high-end finishes. First-floor tenants include Wegmans Food Markets, Cobb Theatres, Sweet & Sassy, and Travinia Italian Kitchen, with many additional independent retailers and restaurants contributing to the center’s day-to-night mix.

    The property is located at 1602 & 1608 Village Market Blvd SE in Leesburg, with access to Route 7, Route 267, Route 28, and Route 15. Ample free covered parking supports convenient customer and tenant arrival, and the center features shared amenities such as a pop-up fountain, Wi-Fi, firepits, and numerous free seasonal events.

    This offering is well suited for retailers, restaurant concepts, and service users seeking a built-out, destination-style environment paired with office activity. Operators looking for flexibility will also benefit from the availability of turnkey custom build-outs, aligning with tenants that need a polished, ready-to-activate space within an established shopping and dining hub.
    Location Intelligence

    Current Use by Public Records

    Clover Leaf Wealth ... Financial Advisor Island Food To Go Restaurant Alliant Merchant Solutions Business To Business Service Colombian's Place Restaurant Cardinal Title Group Consultant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Leesburg
    County
    Loudoun
    State
    Virginia
    Longitude
    -77.5256536
    Latitude
    39.0906745

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    FAQs

    What type of property is this?
    Office building - Class-A office and open-air retail anchored by major tenants, with covered parking and strong regional highway access.
    Where is this office building located?
    The property is located at 1602 & 1608 Village Market Blvd SE Leesburg, VA.
    What are key features of this property?
    This property features: Village at Leesburg grand opening in 2011 as Loudoun County’s first mixed‑use center of its kind; Open‑air development with over 40 retailers and restaurants plus multi‑family residences, office, and retail space; Class‑A office building with high‑end finishes and first‑floor tenants including Wegmans Food Markets, Cobb Theatres, Sweet & Sassy, and Travinia Italian Kitchen
    (703) 522-4600
    We can help!
    Listing Contact
    Eamon McCrann
    Eamon McCrann
    Learn More
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    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.

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    1602 & 1608 Village Market Blvd SE, Leesburg, VA 20175
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