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    Property profile & analytics

    305 Harrison St SE Leesburg, VA 20175

    • Office properties & Spaces
    • 21,792 SF
    • 0.65 lot acres
    For Lease
    View listing
    $29 SF/Yr
    Last Sale
    May 27, 2022
    $4,000,000
    Value Estimations
    $4,000,000
    Cap Rate Potential
    7.4%
    Office properties & Spaces
    Location Intelligence
    Property ID
    US87-3559591
    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

    • Simms Showers LLP / Consultant
    • John Hart MD, Functional Medicine For Families & Gynecology / Physician
    • Mc Carthy Leigh K / Physician
    • Simms Showers LLP Criminal and Traffic Defense Attorneys / Law Firm
    • Ironclad Accounting & Finance / Accounting Firm / Tax Preparation

    Property Details for 305 Harrison St SE

    Year built
    1988
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.65 lot acres
    Property size
    21,792 SF
    Zone code
    LB:B1
    Property type
    Office properties & Spaces
    APN
    231-28-6852-000
    APU
    231286852000

    Description

    This exceptional office space opportunity is located in the heart of historic downtown Leesburg, Virginia. The property boasts two available suites, Suite 100A and Suite LL2-1C, offering a combined total of approximately 3,310 square feet of versatile office space. Each suite features a spacious layout including a large administrative area, multiple private offices, a convenient kitchenette, and a dedicated conference area. Suite 100A offers approximately 1,644 square feet, while Suite LL2-1C provides approximately 1,666 square feet. The suites share bathroom facilities located on each floor. This prime location offers unparalleled convenience, situated just one block from the Loudoun County Government Center and Market Station, and within easy walking distance of a variety of dining and shopping options. The County Courthouse is only three blocks away. The property sits on a 0.65-acre lot and includes onsite parking for added convenience. This is an ideal location for businesses seeking high visibility and accessibility in a thriving downtown environment. The property is ready for immediate occupancy and offers a unique opportunity to establish a presence in the vibrant heart of Leesburg. Inquire today for more details and pricing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,640,000
      ML approach
      $3,835,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,510,000
      6.5%
      $4,165,000
      7%
      $3,865,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,081,000
      Market price range: $5.08M - $10.8M
      AI Estimate
      $2,532,000
      Market price range: $1.58M - $6.44M

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

    Location Insight

    • Map
    • Local Demand
    City
    Leesburg
    County
    Loudoun
    State
    Virginia
    Longitude
    -77.5634
    Latitude
    39.1116
    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
    $25,016
    $651,200
    $2,240,860
    $2,892,060
    -
    $651,200
    $2,240,860
    $2,892,060

    Comparable in this City

    • Value Estimation
      $4,050,000
      21,730 SF

      20 King St

      OFFICE (GENERAL) • 21,730 SF
      20 King St, Leesburg, VA 20175-3023
      View Details
    • Value Estimation
      $19,135,000
      76,809 SF

      42311 Thunderball Dr

      OFFICE (GENERAL) • 76,809 SF
      42311 Thunderball Dr, Leesburg, VA 20175
      View Details
    • Value Estimation by Request
      1,032 SF

      1507 Dodona Ter

      Coworking space • 1,032 SF
      1507 Dodona Ter, Leesburg, VA 20175
      View Details
    • Value Estimation by Request

      1507 Dodona Ter

      Office Units
      1507 Dodona Ter, Leesburg, VA 20175
      View Details
    • Value Estimation
      $890,000
      3,150 SF

      17 Ft Evans SE Rd

      OFFICE (GENERAL) • 3,150 SF
      17 Ft Evans SE Rd, Leesburg, VA 20175-4108
      View Details
    • Value Estimation
      $1,195,000
      5,968 SF

      3 King St

      OFFICE (GENERAL) • 5,968 SF
      3 King St, Leesburg, VA 20175-2903
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.65 Acres

      Downtown Leesburg Office Suites

      Prime Location, Two Suites Available
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      View Details
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      Downtown Leesburg Retail/Office Opportunity

      Retail or office space in historic, booming downtown Leesburg.
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      Downtown Leesburg Redevelopment Opportunity

      0.55-acre site entitled for mixed-use development in historic district.
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    Similar Nearby for Lease

    • Contact for pricing
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      Market Station Executive Suites

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      View Details
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      Leesburg Office Space, 8400 SF

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      View Details
    • $4,900 /Mo

      Prime Leesburg Retail/Office Space

      Two adjacent units in downtown Leesburg with high visibility.
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      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
    • $4,800 /Mo

      Office Space Available for Lease

      Office units for lease in Leesburg, VA with 45000 sqft.
      203 Harrison St, Leesburg, VA 20175
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    • $2,800 /Mo
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      View Details
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    305 Harrison St SE
    Leesburg, VA 20175
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    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
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