Medical Office Condo with
New
For Sale
$750,000
2 CARDINAL PARK DRIVE SE Unit 101, Leesburg, VA 20175
Corner-unit professional space offers private offices, collaborative work areas, and zoning for medical and general office use.
Property Size1,915 SF
Price / SF$391.64
Days on Market6
Property Features for 2 CARDINAL PARK DRIVE SE Unit 101
General Information
Standard status
Active
Size
1,915 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,706
Building Details
Building Size
1,915 SF
Year Built
1988
Listing Agency:
RE/MAX Distinctive Real Estate, Inc.
Listed By:
Terri A Pope-Robinson · License #0225061962
(703) 216-4272
Source:
Barnesrealestatecompany
Added: Aug 28
Changed: Sep 1
Last Checked: Sep 1 at 9:06PM
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 RE/MAX Distinctive Real Estate, Inc.
Investment Insights
Based on property information with market context.
This 1,915-square-foot medical office condominium was built in 1988 and is configured for professional occupancy. The interior includes three private offices, a conference room, an open bullpen area, reception, a kitchenette, a file or flex room, and one restroom. The layout supports both clinical and general professional office functions without relying on a single specialty configuration.
The unit is positioned at the intersection of Route 7 and Cardinal Park Drive, east of the Route 15 bypass. Zoning allows medical and general professional office use, and visible signage along Route 7 is available for the occupant. The property is located in Leesburg, within Loudoun County, Virginia.
The unit is positioned at the intersection of Route 7 and Cardinal Park Drive, east of the Route 15 bypass. Zoning allows medical and general professional office use, and visible signage along Route 7 is available for the occupant. The property is located in Leesburg, within Loudoun County, Virginia.
Key Highlights
- 1,915 SF medical office condominium
- Three private offices, conference room, bullpen area, and reception
- Kitchenette, file/flex room, and one restroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,250
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$725,000
$725.0K
Cap Rate 7%
$517,857
$517.9K
Cap Rate 9%
$402,778
$402.8K
Market Conditions
NOI Build-Up for 1,915 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$56.5K $29.52/SF
− Vacancy
−$8.2K −$4.28/SF
EGI
$48.3K $25.24/SF
− OpEx
−$12.1K −$6.31/SF
NOI
$36.3K $18.93/SF
Area
Loudoun County, VA
Vacancy
14.50%
Lease Rate
$29.52 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$725,000
Cap Rate 7%
$517,857
Cap Rate 9%
$402,778
Alternative Uses
Best Use
Office B
$517.9K
$453.1K – $604.2K
NOI $36,250 @ 7.0% cap · market cap 4.83%
Second Best
Healthcare Medical
$509.6K
$445.9K – $594.5K
NOI $35,672 @ 7.0% cap · market cap 4.76%
Theoretical Best
Specialty Retail
$600.1K
$525.1K – $700.2K
NOI $42,010 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
708
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 20175, VA
33,245
Population
12,695
Households
2.6
Avg Household Size
38
Median Age
64%
College-Educated
94%
High-School Grad
59.0 sq mi
ZIP Area
563
Density / Sq Mi
$168,035
Median Household Income
$80,588
Median Earnings
$2,039
Median Rent
$717,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Corner-unit professional space offers private offices, collaborative work areas, and zoning for medical and general office use.
Where is this medical office space located?
The property is located at 2 CARDINAL PARK DRIVE SE Unit 101 Leesburg, VA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 1,915 SF medical office condominium; Three private offices, conference room, bullpen area, and reception; Kitchenette, file/flex room, and one restroom
