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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. 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.
| DAYS ON MARKET | 1 | LAST UPDATED | 5/2/2025 |
|---|---|---|---|
| YEAR BUILT | 1940 | COUNTY | LOUDOUN |
| STATUS | Active | PROPERTY TYPE(S) | Commercial |
| School District | LOUDOUN COUNTY PUBLIC SCHOOLS |
|---|
| ADDITIONAL DETAILS | |
| AIR | Central Air, Electric |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Gas Water Heater |
| CONSTRUCTION | Metal Siding, Stone |
| HEAT | Central, Natural Gas |
| LOT | 0.55 acre(s) |
| PARKING | Private, Parking Lot |
| SEWER | Public Sewer |
| STORIES | 2 |
| TAXES | 18023 |
| WATER | Public |
| ZONING | Leesburg B1 |
MORTGAGE CALCULATOR
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