Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    508 E Market St Leesburg, VA 20176

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $4,200,000

    11,968 SF office building in DC VA Burbs area.

    Property size:
    11,968 SF
    Lot size:
    0.54 Acres

    Property Features for 508 E Market St

    General Information

    Size
    11,968 SF
    Lot size
    0.54 Acres

    We can help!

    Listing Contact
    Nancy Wyatt
    Source: Moodyscre

    Listing Agent: Nancy Wyatt

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Leesburg Office Building For Sale

    This is an 11,968 square foot office building constructed in 1978, offering potential for modernization. It is located in the DC VA Burbs area. The property is zoned LB:CDD, making it suitable for various office uses.
    Location Intelligence

    Current Use by Public Records

    Ben Knows Loudoun Consultant Christian Mollitor J.D./MBA ... Real Estate Agency Patty Donmoyer, REALTOR Real Estate Agency Jill Depee, Long ... Real Estate Agent Mark Graves, Long ... Real Estate Agent

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Leesburg
    County
    Loudoun
    State
    Virginia
    Longitude
    -77.5529538
    Latitude
    39.1097486

    Nearby Similar for Sale

    • $350,000

      LEESBURG Commercial Office Suite

      1,190 SF commercial office suite in high-traffic area.
      706 S King St S, Leesburg, VA 20175
      View Details
    • $650,000

      Prime Leesburg Commercial Units Available

      Two adjacent commercial units in downtown Leesburg, ideal for retail/office.
      412 Madison Trade Plz SE, Leesburg, VA 20175
      View Details
    • $669,500

      Updated Townhome in Lakes Community

      Updated 3-bedroom, 3.5-bath townhome with community amenities in Leesburg, VA.
      18254 Ash Mill Ter, Leesburg, VA 20176
      View Details
    • $999,900
      4,308 SF

      Updated Townhome in Gated Community

      Four-bedroom, 4.5-bathroom townhome with updated features in a gated community.
      18334 Buccaneer Ter, Leesburg, VA 20176
      View Details
    • $689,900
      2,134 SF

      Stunning Townhome in Potomac Station

      Move-in ready townhome with upgrades, finished basement, and community amenities.
      43082 Shadow Ter, Leesburg, VA 20176
      View Details
    • $1,075,000

      Spacious End-Unit Townhome in Lansdowne

      Luxurious, upgraded townhome with premium lot backing to tranquil woods.
      43688 Lees Mill Sq, Leesburg, VA 20176
      View Details
    • $600,000

      Updated Townhouse in Potomac Station

      Updated 3-bedroom townhouse with community amenities in Leesburg, Virginia.
      529 Legrace Ter NE, Leesburg, VA 20176
      View Details
    • $385,000

      Updated Condo in 55+ Community

      Updated 2-bedroom condo in a secure, amenity-rich 55+ community.
      19385 Cypress Ridge Ter, Leesburg, VA 20176
      View Details
    • $560,000

      Updated Townhome in Prime Location

      Bright, updated 3-bedroom townhome with modern amenities and convenient location.
      831 Vanderbilt Ter SE, Leesburg, VA 20175
      View Details
    • $2,675,000
      5,000 SF

      Lansdowne Retail/Office Building For Sale

      Retail/office building at Lansdowne Executive Center entry.
      19460 Golf Vista Plz, Leesburg, VA 20176
      View Details
    • $498,000

      Spacious Condo with Panoramic Views

      Three-bedroom condo featuring a marble balcony and wood floors.
      19385 Cypress Rdg Ter Ter, Leesburg, VA 20176
      View Details
    • $475,000

      Downtown Leesburg Retail/Office Opportunity

      Retail or office space in historic downtown Leesburg.
      446 Harrison St Se LEESBURG, Leesburg, VA 20175
      View Details

    FAQs

    What type of property is this?
    Office building - 11,968 SF office building in DC VA Burbs area.
    Where is this office building located?
    The property is located at 508 E Market St Leesburg, VA.
    What is the asking price?
    The asking price for this property is $4,200,000.
    What are key features of this property?
    This property features: - 11,968 SF office building; - Strategic location in DC VA Burbs area; - Zoned LB:CDD, suitable for various office uses
    (571) 241-8723
    Request Owner's contact information
    508 E Market St Leesburg, VA 20176
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    508 E Market St
    Leesburg, VA 20176
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    508 E Market St Leesburg, VA 20176
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Nancy Wyatt
    (571) 241-8723
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.