Renovated Restaurant and
For Sale
$3,400,000
36855 W MAIN STREET, Purcellville, VA 20132
Historic 1915 property includes private event areas, flexible outdoor dining, and a separate building for future reconfiguration.
Property Size7,121 SF
Days on Market24
Property Features for 36855 W MAIN STREET
General Information
Standard status
Active
Size
7,121 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$16,668
Building Details
Building Size
7,121 SF
Year Built
1915
Listing Agency:
Berkshire Hathaway HomeServices PenFed Realty
(703) 362-0895
Listed By:
David Poole · License #0225192913
(703) 362-0895
Source:
Barnesrealestatecompany
Added: Aug 3
Changed: Aug 25
Last Checked: Aug 25 at 11:05AM
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 Berkshire Hathaway HomeServices PenFed Realty
Investment Insights
Based on property information with market context.
Built in 1915, this Purcellville restaurant property has undergone renovation and expansion and currently operates with a full-service restaurant and bar. A distinct lower-level pub is supported by the shared kitchen, while the upper floor provides sizable private areas for events or additional dining. The property also includes a rear porch designed for outdoor service, with retractable walls and installed heaters extending its seasonal usability.
The site is at 36855 W Main St in Purcellville, Virginia, with views toward Loudoun Country Club’s golf course. A separate building adds another existing structure that could be recreated as dining space or used for an alternative concept.
The site is at 36855 W Main St in Purcellville, Virginia, with views toward Loudoun Country Club’s golf course. A separate building adds another existing structure that could be recreated as dining space or used for an alternative concept.
Key Highlights
- Full‑service restaurant and bar with separate lower‑level pub
- Shared kitchen serves the restaurant and lower‑level pub
- Upper‑level private areas support events or additional dining
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
$156,217
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
4.59%
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%
$3,124,340
$3.1M
Cap Rate 7%
$2,231,671
$2.2M
Cap Rate 9%
$1,735,744
$1.7M
Market Conditions
NOI Build-Up for 7,121 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
$213.6K $30.00/SF
− Vacancy
−$5.3K −$0.75/SF
EGI
$208.3K $29.25/SF
− OpEx
−$52.1K −$7.31/SF
NOI
$156.2K $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%
$3,124,340
Cap Rate 7%
$2,231,671
Cap Rate 9%
$1,735,744
Alternative Uses
Best Use
Specialty Retail
$2.23M
$1.95M – $2.60M
NOI $156,217 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
85
Businesses Nearby
9k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
7-Eleven
Shops & Services
8,902 visits/mo
0.4 miles
Carstar Collision Purcellville
Shops & Services
549 visits/mo
0.4 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Historic 1915 property includes private event areas, flexible outdoor dining, and a separate building for future reconfiguration.
Where is this conventional restaurant located?
The property is located at 36855 W MAIN STREET Purcellville, VA.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: Full‑service restaurant and bar with separate lower‑level pub; Shared kitchen serves the restaurant and lower‑level pub; Upper‑level private areas support events or additional dining
