202 N LOUDOUN ST Active Save Request In-Person Tour Request Virtual Tour
Winchester,VA 22601
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Square Footage 34,689 sqft
Price per Sqft $249
MLS Listing ID VAWI2005940
Year Built 1986
Annual Tax Amount $63,012
Tax Year 2022
Lot Size 0.718 Acres
Property Description
We are pleased to offer for sale 202 N Loudoun St in Winchester, VA. This 34,688 SF building, built in 1986, will be sold fully leased to a credit tenant for a period of 10 years from the date of settlement. The lease agreement is absolute net with the tenant responsible for all building maintenance, repairs, and replacements. All triple net costs will be paid directly to the vendor, provider, and/or taxing authority. The new owner will enjoy monthly rental payments deposited directly into their bank account. The asking price represents a 6% cap rate and reflects the financial strength and stability of the tenant, low vacancy of the submarket (3.2%), long-term lease (10 years with two 5-year options), and value of improvements made by the tenant. The tenant will be replacing the building's HVAC system within the first year of the lease term at a cost of over $1.2M.
The property has its own private parking lot with 25 spaces and is directly across the street from the Old Town Winchester Walking Mall, which feature numerous dining and shopping amenities. The Winchester City office submarket has extremely strong fundamentals compared with the rest of the DC metro area. Vacancy has average 4.37% over the past 10 years with over 24% rent growth over the same period. No new supply has delivered since 2014 and no new construction is in the pipeline.
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Location
State VA
County Winchester City
Zoning B1
Interior
Hot Water Electric
Heating Central
Cooling Central A/C
Exterior
Garage Spaces 25.0
Water Access N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Winchester City Public Schools
Others
Special Listing Condition Standard