Leesburg Redevelopment Opportunity

Highlights:

• Prime Downtown Leesburg Location: Situated in the heart of historic Leesburg, this infill site offers excellent visibility, walkability, and access to the area’s top amenities including shops, dining, and entertainment.
• Income-Producing Retail: Two fully leased retail buildings totaling 11,466 SF (212 Church: 2,102 SF | 208–210 Church: 9,364 SF) generate $279,778 in gross annual income, providing strong interim cash flow.
• Approved Development Plan: The site is fully approved for a 22-unit multifamily building with a maximum height of 65 feet and four levels—eliminating entitlement risk and accelerating your development timeline.
• Spacious Residential Design: Each unit is planned at approximately 1,495 SF, ideal for upscale rentals or boutique condominium product targeting professionals and affluent downsizers.
• Attractive Investment Profile: Rare opportunity to acquire a shovel-ready, mixed-use site in one of Northern Virginia’s fastest-growing and wealthiest counties—ideal for build-to-hold or build-to-sell strategies.
• Strong Market Fundamentals: Leesburg’s high-income demographics, limited multifamily inventory, and growing demand for walkable residential product support long-term value and rent growth potential.

Description:

Downtown Leesburg Multifamily Development Opportunity
Approved for 22 Units | Existing Income-Producing Retail | Prime Infill Site

Positioned in the heart of historic downtown Leesburg, this rare multifamily development opportunity offers a blend of immediate cash flow and long-term value. The property currently features two fully-leased retail buildings totaling 11,466 SF, generating a gross annual income of $279,778.

The site is approved for a new 4-story, 22-unit multifamily building with a maximum height of 65 feet and a total building square footage of approximately 25,000 SF. Each residential unit is planned at an ideal size of approximately 1,495 SF, catering to the demand for spacious, high-end living in one of Northern Virginia’s most desirable downtown settings.

Downtown Leesburg, Virginia, and the broader Loudoun County present a compelling landscape for development, characterized by robust economic growth, a rapidly expanding population, and significant affluence.

Economic Growth and Affluence
Loudoun County's economy has experienced substantial growth, with its Gross Domestic Product (GDP) reaching $38 billion in 2022, marking a 13% increase from 2018. This economic expansion is complemented by a median household income of $170,463 as of 2022, reflecting an 8.7% rise from the previous year. Such figures underscore the county's status as one of the most affluent regions in the United States.

Population Growth
The population of Loudoun County has been steadily increasing, reaching approximately 420,773 residents in 2022, a 1.74% growth from 2021. Similarly, Leesburg's population has expanded, with estimates indicating a rise to 49,622 in 2024, reflecting a 2.56% increase since the 2020 census. This population surge fuels demand for residential, commercial, and retail developments, presenting ample opportunities for investors and businesses.

Educational Attainment
The region boasts a highly educated populace, with 56.1% of Leesburg residents aged 25 and over holding a bachelor's degree or higher. This educated workforce enhances the area's appeal to businesses seeking skilled professionals.

Development Potential
The combination of economic prosperity, population growth, and a well-educated workforce positions Downtown Leesburg and Loudoun County as prime areas for development. The increasing demand for housing, retail spaces, and commercial facilities offers significant opportunities for developers and investors aiming to capitalize on the region's dynamic growth and affluence.

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