Successful Sale of 24328 Marrwood Drive, Aldie, VA
Joe Serafin and this team at Serafin Real Estate successfully closed the sale of 24328 Marrwood Drive, a former educational facility in Aldie, Virginia. Despite initial marketing challenges, the property attracted the ideal buyer—the Loudoun County Board of Supervisors—due to its prime location and use potential.
- Located in Aldie, VA, directly off Route 50
- Originally built in 1973 as Arcola Elementary School
- Positioned near major tech hubs like Amazon and Microsoft
- Purchased by the Loudoun County Board of Supervisors
Sale Details
This well-positioned asset generated significant interest due to its size, zoning, and location. The transaction showcased the importance of patience and strategic marketing in achieving maximum value.
- Sale Price: $17,000,000
- Property Type: Educational/Institutional Use
- Sale Date: February 26, 2025
- Building Size: 44,384 SF
- Lot Size: 14.63 Acres
- Zoning: TR-1
- Buyer: Loudoun County Board of Supervisors
Property Details
The property was initially constructed as a County public elementary school but was later upgraded for private educational use. With its strong structural foundation and flexible layout, it presented an excellent opportunity for owner-user applications.
- Year Built: 1973, renovated in 2010
- Building Layout: Single-floor facility with adaptable space
- Land Use: 14.63 acres, suitable for institutional applications
- Prime Location: Near growing residential and employment centers
Market Strategy and Competitive Positioning
Initially marketed as a triple-net investment, the property faced hurdles due to a long-term tenant with a below-market lease. However, after the tenant vacated, we repositioned the asset for owner-user buyers, significantly improving its marketability.
- Initial Marketing Approach: Triple-net investment opportunity
- Key Challenge: Existing tenant on a long-term, below-market lease
- Strategic Pivot: Shifted focus to owner-users after tenant vacated
- Outcome: Increased buyer interest and successful transaction
Finding the Right Buyer
The Loudoun County Board of Supervisors emerged as the logical buyer, given the property’s original use as a public school and the county’s need for additional institutional space. The availability of funds from data center tax revenues further streamlined the sale process.
- Ideal Buyer: Loudoun County Board of Supervisors
- Logical Fit: Originally built as a county public school
- Financial Readiness: County funds supported a smooth transaction
- Market Conditions: Limited institutional-use properties in the area
Area Overview
Loudoun County remains one of the fastest-growing areas in the U.S., attracting businesses, residents, and institutions alike. The scarcity of available land continues to drive up property values, making this acquisition particularly valuable.
- Economic Growth: Rapidly expanding employment and residential base
- High Demand: Limited availability of large institutional properties
- Affluent Market: High median household income
- Tech Hub: Proximity to Amazon and Microsoft data centers
Lessons Learned
This transaction highlighted the critical role of adaptability in real estate. By strategically repositioning the property and holding firm on pricing, we attracted the right buyer and secured an optimal deal for our client. Understanding tenant dynamics and adjusting our approach allowed us to maximize the property’s potential. Most importantly, having confidence in the asset’s true value was key to a successful outcome.
“One of the biggest takeaways from this deal—and from my client—is the importance of patience. When you know the value of your asset, you stand by it. Market conditions may shift, but the right strategy and the right buyer will always align for the best result. Every transaction teaches a lesson, and this was no exception. My client is highly knowledgeable and experienced, and it’s always wise to keep learning—especially from those you trust and respect.”
— Joe Serafin, Owner & Founder of Serafin Real Estate
Conclusion
By strategically repositioning the property and identifying the right buyer, we were able to maximize value and close a successful transaction. This deal underscores the power of market expertise, flexibility, and persistence in commercial real estate. Through targeted marketing efforts, we successfully engaged the ideal buyer, ensuring a seamless transaction process. The ability to recognize the true potential of the asset and shift strategies accordingly played a crucial role in achieving a strong sale price and favorable terms. Our approach demonstrated that deep market insights and well-executed strategies are key to unlocking maximum property value.
By leveraging deep market insights and a flexible approach, we secured the best possible outcome for our client.