5 Ft Evans NE Rd Leesburg, VA 20176-4407
- Turn key restaurants
- 5,897 SF
- 0.69 lot acres
Current Use by Public Records
- Anita's New Mexico Style Mexican Food / Mexican Restaurant
- In & Out Check Cashing / Check Cashing Service
- Leesburg Deli Market - Tienda Latina / Grocery Store
- C J Wireless / Cell Phone Store
Property Details for 5 Ft Evans NE Rd
- Year built
- 1981
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.69 lot acres
- Property size
- 5,897 SF
- Zone code
- LB:CDD
- Property type
- Turn key restaurants
- APN
- 189-47-0391-000
- APU
- 189470391000
Description
This exceptional 10,488-square-foot retail property in Leesburg, Virginia, presents a compelling investment opportunity. Located at 5 Fort Evans Rd NE, 20176, this multi-tenant, fee-simple property boasts a 5.00% cap rate and a strong net operating income (NOI) of $219,320. Currently 100% occupied with a mix of popular local restaurants, a barbershop, and a nail salon, the property benefits from below-market rents, offering significant upside potential through future lease adjustments. The 1.31-acre lot features excellent visibility and access, situated at the intersection of Market Street and Fort Evans Road, with a large monument sign and convenient ingress/egress points. Its strategic location near US Highway 15 and State Highway 7 ensures high traffic volume (80,000 vehicles daily). The property's proximity to a Giant Food-anchored shopping center, Leesburg Premium Outlets, and other national retailers like Costco, Home Depot, and Marshalls, creates a synergistic retail environment and strong consumer base. The 5-mile trade area boasts over 98,000 residents and 40,000 employees, with an average household income nearing $200,000, providing a robust and stable demographic profile. This net-lease investment offers a rare combination of strong current performance and significant future growth potential. The asking price is $4,386,000, representing a price per square foot of $418.19. This is a fee simple ownership (land and building) with no ground lease. The investment type is a multi-tenant net lease.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $4,200,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $4,140,000
- 6.5%
- $3,770,000
- 7%
- $3,845,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $4,500,000
- Geo Method
- $3,840,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $4,000,000
- Retail
- $3,345,000
- Mixed-Use
- $3,335,000
- Hospitality
- $3,165,000
- Educational
- $3,270,000
- Residential Income
- $3,495,000
- Energy
- $3,515,000
- Income-Based Land
- $4,185,000
- Food Service
- $3,955,000
Location Insight
- Map
- Local Demand
- City
- Leesburg
- County
- Loudoun
- State
- Virginia
- Longitude
- -77.5481
- Latitude
- 39.1071
- CBSA code
- 47900
- CBSA name
- WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA
