Historic Mixed-Use
New
For Sale
$1,199,999
36550 Philomont Rd, Purcellville, VA 20132
Includes an operating general store, three upper-level apartments, and several distinct income sources.
Property Size4,800 SF
Price / SF$249
Days on Market3
Property Features for 36550 Philomont Rd
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Multifamily Units
3
Building Details
Year Built
1913
Buildings
1
Listing Agency:
Thomas and Talbot Estate Properties, Inc.
Listed By:
Kristin D Johnson
(540) 687-6500
Source:
Findahomewithus
Added: Sep 10
Changed: Sep 12
Last Checked: Sep 12 at 2:28PM
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 Thomas and Talbot Estate Properties, Inc.
Investment Insights
Based on property information with market context.
The Philomont General Store is a 4,800-square-foot mixed-use property built in 1913. The building combines an operating general store with three apartments on the upper level, along with income associated with the U.S. Postal Service and a rooftop telecommunications equipment lease. This configuration brings commercial operations, residential space, and additional lease components under one roof.
The property is located at 36550 Philomont Rd in Purcellville, Virginia, within the Philomont Historic District. It is recognized as an NPS Contributing Resource and is listed on both the Virginia Landmarks Register and the National Register of Historic Places. The surrounding setting includes Loudoun County horse country, farmland, and the countryside of Western Loudoun.
The property is located at 36550 Philomont Rd in Purcellville, Virginia, within the Philomont Historic District. It is recognized as an NPS Contributing Resource and is listed on both the Virginia Landmarks Register and the National Register of Historic Places. The surrounding setting includes Loudoun County horse country, farmland, and the countryside of Western Loudoun.
Key Highlights
- 4,800 SF mixed‑use property built in 1913
- Operating general store with three upper‑level apartments
- Income associated with the U.S. Postal Service
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
$105,300
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
8.78%
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%
$2,106,000
$2.1M
Cap Rate 7%
$1,504,286
$1.5M
Cap Rate 9%
$1,170,000
$1.2M
Market Conditions
NOI Build-Up for 4,800 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
$144.0K $30.00/SF
− Vacancy
−$3.6K −$0.75/SF
EGI
$140.4K $29.25/SF
− OpEx
−$35.1K −$7.31/SF
NOI
$105.3K $21.94/SF
Area
Loudoun County, VA
Vacancy
2.50%
Lease Rate
$30.00 /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%
$2,106,000
Cap Rate 7%
$1,504,286
Cap Rate 9%
$1,170,000
Alternative Uses
Best Use
Specialty Retail
$1.50M
$1.32M – $1.76M
NOI $105,300 @ 7.0% cap · market cap 8.78%
Second Best
Retail
$1.17M
$1.02M – $1.36M
NOI $81,769 @ 7.0% cap · market cap 6.81%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
Explore this area
Business Placement
Demographics for 20132, VA
18,483
Population
6,309
Households
2.9
Avg Household Size
39
Median Age
60%
College-Educated
95%
High-School Grad
84.6 sq mi
ZIP Area
218
Density / Sq Mi
$180,663
Median Household Income
$80,404
Median Earnings
$2,225
Median Rent
$704,100
Median Home Value
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes an operating general store, three upper-level apartments, and several distinct income sources.
Where is this mixed-use property located?
The property is located at 36550 Philomont Rd Purcellville, VA.
What is the asking price?
The asking price for this property is $1,199,999.
What are key features of this property?
This property features: 4,800 SF mixed‑use property built in 1913; Operating general store with three upper‑level apartments; Income associated with the U.S. Postal Service
