Gallery Space with Geothermal
42692 Lucketts Rd, Leesburg, VA 20176
For Sale
New
Contact for pricing
An artist-oriented exhibition space includes gallery lighting, stone flooring and access to a Summer Kitchen.
Property Size7,180 SF
Price / SF$0.97
Days on Market3
Property Features for 42692 Lucketts Rd
General Information
Standard status
Size
Property subtype
Zoning
Amenities
gallery lighting
stone floors
open exhibition halls
pastoral views
geothermal heating and cooling
soaring ceilings
Summer Kitchen
Building Details
Year Built
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Kamal K Brar
(703) 380-1500
Source:
Cummingsrealtors
Added: Nov 11
Changed: Nov 12
Last Checked: Nov 12 at 2:26PM
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 Real Broker, LLC
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Investment Insights
Based on property information with market context.
This 2014 creative property includes 2,880 square feet on the main level, with open exhibition areas, tall ceilings, gallery lighting and stone flooring. Geothermal heating and cooling serve the building, and tenants may use the Summer Kitchen. The offering also includes use of up to 2 acres within the 12-acre property.
At 42692 Lucketts Rd in Leesburg, the tree-lined setting features mountain views. The property is zoned AR-1, with art studio use permitted by right under the Loudoun County Zoning Ordinance; other uses require County approval. Intended uses should be confirmed with Loudoun County Zoning.
At 42692 Lucketts Rd in Leesburg, the tree-lined setting features mountain views. The property is zoned AR-1, with art studio use permitted by right under the Loudoun County Zoning Ordinance; other uses require County approval. Intended uses should be confirmed with Loudoun County Zoning.
Key Highlights
- 2,880 SF main level configured with open exhibition areas
- Up to 2 acres of the 12‑acre property available with the lease
- Tenant access to the Summer Kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,313
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,446,260
$2.4M
Cap Rate 7%
$1,747,329
$1.7M
Cap Rate 9%
$1,359,033
$1.4M
Market Conditions
NOI Build-Up for 7,180 SF
Gross rent
$179.2K $24.96/SF
− Vacancy
−$4.5K −$0.62/SF
EGI
$174.7K $24.34/SF
− OpEx
−$52.4K −$7.30/SF
NOI
$122.3K $17.04/SF
Area
Loudoun County, VA
Vacancy
2.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,446,260
Cap Rate 7%
$1,747,329
Cap Rate 9%
$1,359,033
Alternative Uses
Best Use
Office B
$1.94M
$1.70M – $2.27M
NOI $135,915 @ 7.0% cap
Second Best
Retail
$1.75M
$1.53M – $2.04M
NOI $122,313 @ 7.0% cap
Theoretical Best
Specialty Retail
$2.25M
$1.97M – $2.63M
NOI $157,511 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
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Business Placement
Demographics for 20176, VA
51,777
Population
17,044
Households
3
Avg Household Size
38
Median Age
59%
College-Educated
94%
High-School Grad
54.9 sq mi
ZIP Area
943
Density / Sq Mi
$166,870
Median Household Income
$67,473
Median Earnings
$2,089
Median Rent
$702,400
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Creative space - An artist-oriented exhibition space includes gallery lighting, stone flooring and access to a Summer Kitchen.
Where is this creative space located?
The property is located at 42692 Lucketts Rd Leesburg, VA.
What are key features of this property?
This property features: 2,880 SF main level configured with open exhibition areas; Up to 2 acres of the 12‑acre property available with the lease; Tenant access to the Summer Kitchen
