Middleburg Historic District Commercial
For Sale
$1,950,000
6 PENDLETON STREET, Middleburg, VA 20117
Prime commercial investment opportunity in Middleburg's downtown historic district.
Property Size5,639 SF
Price / SF$345.81
Days on Market223
Property Features for 6 PENDLETON STREET
General Information
Standard status
Active
Size
5,639 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$6,529
Building Details
Building Size
5,639 SF
Year Built
1870
Listing Agency:
Thomas and Talbot Estate Properties, Inc.
(540) 229-3201
Listed By:
Cricket Bedford · License #0225067736
(540) 229-3201
Source:
Kerishull
Added: Jan 12
Changed: Aug 23
Last Checked: Aug 22 at 7:57AM
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.
This commercial property, situated in the heart of Middleburg’s downtown historic district, offers a prime investment opportunity. The building, with over 5,500 square feet, is located one storefront south of main street, providing excellent visibility and walkability. Constructed of solid brick and featuring a standing-seam metal roof, the two-story layout includes front and rear entrances and staircases, allowing for multiple tenants or flexible use. The property will be delivered vacant, as the current tenant is relocating within town. Interior features include private offices, open work areas, conference rooms, three half baths, a supply/copy room, and a large break room. Two private parking spaces are located in front of the building. Zoned C-2, the property permits professional offices, service businesses, restaurants, retail establishments, and fitness studios. Town water and sewer services are available. The location allows for walking access to restaurants, shops, a grocery store, and the post office.
Key Highlights
- Prime commercial investment opportunity in Middleburg's downtown historic district.
- Delivered vacant, allowing immediate occupancy or tenant placement.
- Flexible two‑story layout with front and rear entrances suitable for multiple tenants or various uses.
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
$96,061
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
4.93%
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%
$1,921,220
$1.9M
Cap Rate 7%
$1,372,300
$1.4M
Cap Rate 9%
$1,067,344
$1.1M
Market Conditions
NOI Build-Up for 5,639 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
$140.7K $24.96/SF
− Vacancy
−$3.5K −$0.62/SF
EGI
$137.2K $24.34/SF
− OpEx
−$41.2K −$7.30/SF
NOI
$96.1K $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 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%
$1,921,220
Cap Rate 7%
$1,372,300
Cap Rate 9%
$1,067,344
Alternative Uses
Best Use
Retail
$1.37M
$1.20M – $1.60M
NOI $96,061 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.77M
$1.55M – $2.06M
NOI $123,706 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
502
Businesses Nearby
2k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Truist
Shops & Services
1,895 visits/mo
0.1 miles
Demographics for 20117, VA
2,746
Population
1,643
Households
1.7
Avg Household Size
51
Median Age
57%
College-Educated
96%
High-School Grad
48.6 sq mi
ZIP Area
57
Density / Sq Mi
$148,063
Median Household Income
$91,667
Median Earnings
$1,762
Median Rent
$947,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Prime commercial investment opportunity in Middleburg's downtown historic district.
Where is this storefront property located?
The property is located at 6 PENDLETON STREET Middleburg, VA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Prime commercial investment opportunity in Middleburg's downtown historic district.; Delivered vacant, allowing immediate occupancy or tenant placement.; Flexible two‑story layout with front and rear entrances suitable for multiple tenants or various uses.
