202 N LOUDOUN ST, Winchester, VA 22601 – VAWI2005940

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Fran Valerio

fvalerio@soldincentralpa.com +1(717) 602-0551

$8,672,000

Est. payment - /mo

34,689 SqFt

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UPDATED:

08/14/2024 10:28 AM

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

Originating Board BRIGHT

Year Built 1986

Annual Tax Amount $63,012

Tax Year 2022

Lot Size 0.718 Acres

Acres 0.72

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

Heat Source Natural Gas

Exterior

Garage Spaces 25.0

Waterfront N

Water Access N

Accessibility Elevator

Total Parking Spaces 25

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Winchester City Public Schools

Others

Tax ID 173-01-N- 1-

Ownership Fee Simple

SqFt Source Assessor

Special Listing Condition Standard

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Listed by Ryan Rauner • CENTURY 21 Commercial New Millennium

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Fran Valerio

+1(717) 602-0551

Listing Specialist, Team Leader | RSRS311467

Listing Specialist, Team Leader RSRS311467

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