Add Listing
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

    241 Ft Evans NE Rd Leesburg, VA 20176-4038

    • Retail space
    • 67,590 SF
    • 54.14 lot acres
    OFF-MARKET
    Value Estimations
    $17,375,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-3469584
    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

    • Cole Haan Outlet / Shoe Store / Fashion Accessories Store
    • Express Factory Outlet / Clothing & Fashion Store
    • Nautica / Clothing & Fashion Store
    • Williams-Sonoma Outlet / Discount Store / Clothing & Fashion Store
    • J.Crew Factory / Clothing & Fashion Store

    Property Details for 241 Ft Evans NE Rd

    Year built
    1998
    Construction
    STEEL FRAME
    Lot size
    54.14 lot acres
    Property size
    67,590 SF
    Zone code
    LB:B3
    Property type
    Retail space
    APN
    189-49-6489-000
    APU
    189496489000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $19,190,000
      6.5%
      $17,715,000
      7%
      $16,450,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $26,730,000
      Current use
      WAREHOUSE, STORAGE
      $22,715,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Leesburg
    County
    Loudoun
    State
    Virginia
    Longitude
    -77.5386
    Latitude
    39.1064
    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
    $1,708,700
    $29,128,600
    $168,408,950
    $197,537,550
    -
    $29,128,600
    $168,408,950
    $197,537,550

    Comparable in this City

    • Value Estimation
      $15,180,000
      116,094 SF

      280 Ft Evans NE Rd

      RETAIL STORES (PERSONAL SERVICES) • 116,094 SF
      280 Ft Evans NE Rd, Leesburg, VA 20176-4497
      View Details
    • Value Estimation
      $550,000
      2,816 SF

      22 Market St

      RETAIL STORES (PERSONAL SERVICES) • 2,816 SF
      22 Market St, Leesburg, VA 20176-2805
      View Details
    • Value Estimation
      $4,525,000
      18,560 SF

      18 Ft Evans NE Rd

      RETAIL STORES (PERSONAL SERVICES) • 18,560 SF
      18 Ft Evans NE Rd, Leesburg, VA 20176-4495
      View Details
    • Value Estimation
      $2,225,000
      11,499 SF

      325 Market St

      RETAIL STORES (PERSONAL SERVICES) • 11,499 SF
      325 Market St, Leesburg, VA 20176-4102
      View Details
    • Value Estimation
      $8,465,000
      32,000 SF

      481 Potomac Sta NE Dr

      RETAIL STORES (PERSONAL SERVICES) • 32,000 SF
      481 Potomac Sta NE Dr, Leesburg, VA 20176
      View Details
    • Value Estimation
      $2,065,000
      2,610 SF

      42410 Stumptown Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,610 SF
      42410 Stumptown Rd, Leesburg, VA 20176-5538
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,395 SF

      Leesburg Investment Opportunity For Sale

      Meticulously maintained 1,395 SF building in Leesburg, Virginia.
      130 Fort Evans Rd NE, Leesburg, VA 20176
      View Details
    • $1,400,000
      3,200 SF

      Leesburg Mixed-Use Commercial Building

      Historic building, fully leased, prime location
      209 Old Waterford Rd, Leesburg, VA 20176
      View Details
    • Contact for pricing
      6,000 SF

      200-Acre Mixed-Use Development Opportunity

      200-acre mixed-use development in Loudoun County, Virginia.
      267 And Battlefield Pkwy, Leesburg, VA 20176
      View Details
    • $1,300,000

      Leesburg Office Building with Suites

      Commercial office building near historic downtown Leesburg with endless possibilities.
      209 Old Waterford Rd NW, Leesburg, VA 20176
      View Details
    • Contact for pricing
      2,210 SF

      Lansdowne Office Park Medical Condo

      Class A medical office condo in Lansdowne Office Park.
      19465 Deerfield Ave, Leesburg, VA 20176
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,000 SF

      Retail Space in High-Traffic Area

      Spacious retail space with excellent visibility and ample parking.
      24 Plaza St NE, Leesburg, VA 20176
      View Details
    • Contact for pricing
      5,200 SF

      Retail Space in Mixed-Use Center

      Retail space available in a busy Lansdowne mixed-use center.
      19300-19308 Promenade Dr, Leesburg, VA 20176
      View Details
    • Contact for pricing
      1,936 SF

      Retail Space in Leesburg Center

      Retail space with major retailers and high traffic.
      609-617 Potomac Station Dr, Leesburg, VA 20176
      View Details
    • Contact for pricing
      4,720 SF

      Retail Pad Site with Drive-Thru

      Highly visible retail building in Leesburg's major retail corridor.
      950 Edwards Ferry Rd Ne, Leesburg, VA 20176
      View Details
    • Contact for pricing
      4,029 SF

      Retail Space in Fort Evans

      Retail space available in popular Leesburg shopping center.
      538 Fort Evans Rd, Leesburg, VA 20176
      View Details
    • Contact for pricing
      4,538 SF

      Retail Space in Fort Evans

      Retail space available in a popular Leesburg shopping center.
      500 Fort Evans Rd, Leesburg, VA 20176
      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.
    241 Ft Evans NE Rd
    Leesburg, VA 20176-4038
    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.
    Sign Up Successful!
    You now have access to more from Realmo!