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Listing Courtesy of: Ryan Rauner - CENTURY 21 Commercial New Millennium 703-556-4222

$8,672,000

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202 N Loudoun Street Winchester, VA 22601

Office Residence

Beds

Baths

34,688 Sq. Ft.

0.72 Acre Lot

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Last updated on 11/28/2024 11:07 AM

Listing Details

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. FOR MORE INFORMATION, PLEASE SIGN THE CONFIDENTIALITY AGREEMENT Continue reading

MLS#

VAWI2005940

Property Type

Office

Year Built

1986

Square Feet

34,688 sq. ft

Price per Sq. Ft.

$249.99

Lot Size

0.72