Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1602 Village Market Blvd SE Leesburg, VA 20175

    • Office Properties & Spaces
    • 110,761 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-3545916
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 1602 Village Market Blvd SE

    Year built
    2010
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Property size
    110,761 SF
    Zone code
    LB:B4
    Property type
    Office Properties & Spaces
    APN
    149-28-0225-005
    APU
    149280225005

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $22,930,000
      6.5%
      $21,165,000
      7%
      $19,650,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $25,826,000
      Market price range: $25.8M - $54.9M
      AI Estimate
      $11,947,000
      Market price range: $8.05M - $32.7M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Leesburg
    County
    Loudoun
    State
    Virginia
    Longitude
    -77.5265
    Latitude
    39.0906
    CBSA code
    47900
    CBSA name
    WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $118,012
    $3,322,800
    $10,320,170
    $13,642,970
    -
    $3,322,800
    $10,320,170
    $13,642,970

    Comparable in this City

    • Value Estimation
      $4,000,000
      21,792 SF

      305 Harrison SE St

      OFFICE (GENERAL) • 21,792 SF
      305 Harrison SE St, Leesburg, VA 20175-3729
      View Details
    • Value Estimation
      $750,000
      3,942 SF

      103 Loudoun SW St

      OFFICE (GENERAL) • 3,942 SF
      103 Loudoun SW St, Leesburg, VA 20175-2910
      View Details
    • Value Estimation
      $1,815,000
      7,482 SF

      201 Loudoun SW St

      OFFICE (GENERAL) • 7,482 SF
      201 Loudoun SW St, Leesburg, VA 20175-2718
      View Details
    • Value Estimation
      $1,800,000
      1,376 SF

      312 Parker SE Ct

      OFFICE (GENERAL) • 1,376 SF
      312 Parker SE Ct, Leesburg, VA 20175-3711
      View Details
    • Value Estimation
      $1,935,000
      9,659 SF

      5 Wirt SW St

      OFFICE (GENERAL) • 9,659 SF
      5 Wirt SW St, Leesburg, VA 20175-2923
      View Details
    • Value Estimation
      $2,195,000
      11,084 SF

      211 Church SE St

      OFFICE (GENERAL) • 11,084 SF
      211 Church SE St, Leesburg, VA 20175-3034
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.65 Acres

      Downtown Leesburg Office Suites

      Prime Location, Two Suites Available
      305 Harrison St, Leesburg, VA 20175
      View Details
    • Contact for pricing

      Leesburg Office Space: Village Market

      Prime Office Suite in Vibrant Leesburg
      1602 Village Market Blvd, Leesburg, VA 20175
      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
    • $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
    • $475,000

      Downtown Leesburg Retail/Office Opportunity

      Retail or office space in historic, booming downtown Leesburg.
      450 Harrison St Se LEESBURG, Leesburg, VA 20175
      View Details
    • $650,000
      3.00 Acres

      Land for Custom Home Construction

      Three-acre lots ready for custom homes in Loudoun County.
      40642 Gallorette Pl, Leesburg, VA 20175
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,400 SF

      Leesburg Office Space, 8400 SF

      Historic Downtown Leesburg Office
      201-203 Loudoun St, Leesburg, VA 20175
      View Details
    • Contact for pricing
      5,233 SF

      Market Station Executive Suites

      Leesburg Office Space: 943-2205 sq ft
      203 Harrison St, Leesburg, VA 20175
      View Details
    • $7,500 /Mo

      Office Condo with Multiple Offices

      Office condominium featuring multiple conference rooms and individual offices with windows.
      602 S King St S, Leesburg, VA 20175
      View Details
    • $4,900 /Mo

      Prime Leesburg Retail/Office Space

      Two adjacent units in downtown Leesburg with high visibility.
      412 Madison Trade Plz SE, Leesburg, VA 20175
      View Details
    • $4,800 /Mo
      45,000 SF

      Office Space Available for Lease

      Office units for lease in Leesburg, VA with 45000 sqft.
      203 Harrison St, Leesburg, VA 20175
      View Details
    • $639,000
      1,032 SF

      Modern Office Space Available

      Office space with modern design, signage, and ample parking.
      1503-1509 Dodona Ter SE, Leesburg, VA 20175
      View Details
    Request Owner's contact information
    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.
    1602 Village Market Blvd SE
    Leesburg, VA 20175
    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
    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

    Google sign-in failed. Please try again or use another login method.