Attached Mixed-Use Commercial
For Sale
$1,000,000
7 E MARKET STREET, Leesburg, VA 20176
Three attached commercial buildings are sold as a single offering with shared heating and designated rear parking spaces.
Property Size6,840 SF
Lot Size0.19 Acres
Price / SF$146.20
Days on Market53
Property Features for 7 E MARKET STREET
General Information
Standard status
Active
Size
6,840 SF
Total Parking Spaces
6
Lot size
0.19 Acres
Property subtype
Mixed Use
Additional Details
Office Units
10
Taxes and HOA fees
Annual Taxes
$9,297
Building Details
Building Size
6,840 SF
Year Built
1890
Year Renovated
1993
Tenancy
Multi
Listing Agency:
RE/MAX Supercenter
(540) 834-3200
Listed By:
Joseph S Cleveland · License #225191567
(540) 834-3200
Source:
Kerishull
Added: Jul 3
Changed: Aug 24
Last Checked: Aug 23 at 6:50AM
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 Supercenter
Investment Insights
Based on property information with market context.
For sale via auction as a single offering, three attached commercial buildings totaling 0.16 +/- acres are being sold together due to parking-lot design and shared heating systems. Unit at 3 E Market St includes a first-floor display room, accessory room, and commercial kitchen space leased by Mocatinas, along with a half bathroom and staircase to the upper level; the second floor features four party rooms with a shared half bathroom. Roof is metal (1990s), exterior is brick, and the partially concrete/partially gravel basement holds utilities. This unit has central air conditioning, and a gas boiler (Washington Gas) supplies heat, including heating to Unit #5.
Unit at 5 E Market St is currently vacant and has a first-floor layout with three rooms, a half bath, and a full kitchen with natural gas stove fuel, plus front and rear entry. The second floor has four bedrooms, one full bathroom, attic access, and two bedrooms with views of Loudoun Courthouse grounds; there is no exterior ingress/egress on this level. Exterior has metal siding with a metal roof (age unknown), and the partial basement includes crawl space with both interior access and an exterior cellar door.
Unit at 7 E Market St has multiple office suites on the main and second levels, a shared half bath on each, and a full attic suitable for storage or future build-out. The exterior is brick with a metal roof less than 10 years old, and there is a full basement with a gravel floor. Parking includes (4) spaces in the rear for 3 E Market St, (2) spaces for 5 E Market St, and additional 0.03 +/- acres for 7 E Market St. Auction tours are scheduled for August 7, 19, and 28, 2026 at 11:00 a.m. SHARP; contact the listing contact for more information.
Unit at 5 E Market St is currently vacant and has a first-floor layout with three rooms, a half bath, and a full kitchen with natural gas stove fuel, plus front and rear entry. The second floor has four bedrooms, one full bathroom, attic access, and two bedrooms with views of Loudoun Courthouse grounds; there is no exterior ingress/egress on this level. Exterior has metal siding with a metal roof (age unknown), and the partial basement includes crawl space with both interior access and an exterior cellar door.
Unit at 7 E Market St has multiple office suites on the main and second levels, a shared half bath on each, and a full attic suitable for storage or future build-out. The exterior is brick with a metal roof less than 10 years old, and there is a full basement with a gravel floor. Parking includes (4) spaces in the rear for 3 E Market St, (2) spaces for 5 E Market St, and additional 0.03 +/- acres for 7 E Market St. Auction tours are scheduled for August 7, 19, and 28, 2026 at 11:00 a.m. SHARP; contact the listing contact for more information.
Key Highlights
- 3 attached commercial buildings sold as a single offering due to shared heating systems and parking lot design
- Auction: starting bid only; live auction on September 11, 2026 at 11:00 a.m. Eastern
- Includes 3 E Market St, 5 E Market St, and 7 E Market St, totaling 4,822+/- SF, 2,484+/- SF, and 6,840+/- SF
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
$84,953
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
8.50%
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%
$1,699,060
$1.7M
Cap Rate 7%
$1,213,614
$1.2M
Cap Rate 9%
$943,922
$943.9K
Market Conditions
NOI Build-Up for 6,840 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
$147.7K $21.60/SF
− Vacancy
−$11.8K −$1.73/SF
EGI
$135.9K $19.87/SF
− OpEx
−$51.0K −$7.45/SF
NOI
$85.0K $12.42/SF
Area
Loudoun County, VA
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,699,060
Cap Rate 7%
$1,213,614
Cap Rate 9%
$943,922
Alternative Uses
Best Use
Specialty Retail
$2.14M
$1.88M – $2.50M
NOI $150,053 @ 7.0% cap · market cap 15.01%
Second Best
Office B
$1.85M
$1.62M – $2.16M
NOI $129,479 @ 7.0% cap · market cap 12.95%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,797
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three attached commercial buildings are sold as a single offering with shared heating and designated rear parking spaces.
Where is this mixed-use property located?
The property is located at 7 E MARKET STREET Leesburg, VA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 3 attached commercial buildings sold as a single offering due to shared heating systems and parking lot design; Auction: starting bid only; live auction on September 11, 2026 at 11:00 a.m. Eastern; Includes 3 E Market St, 5 E Market St, and 7 E Market St, totaling 4,822+/- SF, 2,484+/- SF, and 6,840+/- SF
