Waverly Park Office Condominiums
Property Details
Property Overview
Serafin Real Estate is pleased to present Waverly Park Office Condominiums, a seven-unit portfolio totaling 24,728 square feet at 602 South King Street in Historic Downtown Leesburg, Virginia. The offering provides investors and owner-users the opportunity to acquire a controlling interest in one of downtown Leesburg's most recognized professional office buildings, positioned steps from the Loudoun County Courthouse and Government Center in one of Northern Virginia's tightest office submarkets — Leesburg / West Loudoun Class B vacancy currently sits at just 4.3% with leasing velocity up 37% year-over-year.
For tenants, Waverly Park offers suites ranging from approximately 3,100 to 4,039 square feet — with contiguous combinations available for larger users — on a competitive triple net basis at $25.50–$27.00 per square foot. Abundant on-site parking, elevator service, and immediate access to Routes 7, 15, and the Dulles Greenway make this a compelling long-term home for professional service firms, medical and dental practices, legal and financial advisory businesses, and government-adjacent organizations seeking a premier downtown Leesburg address.
UNIT-BY-UNIT PRICING SCHEDULE (7 units | 24,728 SF)
Unit 100 — 3,570 SF — $26.00/SF NNN — $92,820/yr — $295/SF — $1,053,150
Unit 101 — 3,345 SF — $26.00/SF NNN — $86,970/yr — $295/SF — $986,775
Unit 200 — 3,689 SF — $27.00/SF NNN — $99,603/yr — $320/SF — $1,180,480
Unit 201 — 3,345 SF — Leased (sale only) — $310/SF — $1,036,950
Unit 300 — 4,039 SF — $26.00/SF NNN — $105,014/yr — $300/SF — $1,211,700
Unit 400 — 3,640 SF — $25.50/SF NNN — $92,820/yr — $290/SF — $1,055,600
Unit 401 — 3,100 SF — $25.50/SF NNN — $79,050/yr — $290/SF — $899,000
Portfolio total — 24,728 SF — $300.21/SF blended — $7,423,655
Sale: available as individual units, in combination, or as a 7-unit portfolio; sale price subject to offer with an aggregate target of $7,423,655. Lease: asking rates are triple-net; tenant responsible for pro rata taxes, insurance, CAM, and condominium assessments. Unit 201 is currently leased and offered for sale only. Unit 301 is independently owned and excluded from the offering.
Highlights
- Rare downtown Leesburg portfolio — seven of eight condominiums in a single acquisition on South King Street, the primary commercial corridor of Loudoun County's county seat
- Supply-constrained submarket — Leesburg / West Loudoun Class B vacancy at 4.3% vs. 17.4% for the broader Northern Virginia office market; leasing velocity up 37% year-over-year
- Flexible for multiple buyer and tenant profiles — owner-user, value-add investor, or professional services operator; suites from 3,100 to 4,039 SF with contiguous combinations available
- Proven location fundamentals — walking distance to the Loudoun County Courthouse and Government Center; immediate access to Routes 7, 15, and the Dulles Greenway; 15 miles to Dulles International Airport
- Full-building assemblage potential — the eighth condominium is independently owned by an established dental practice, creating long-term potential to consolidate complete building control
- Premier professional environment — four-story steel-frame building with elevator service and 80 surface parking spaces at 5.0 per 1,000 SF, walkable to Historic Downtown Leesburg amenities
- Sale available by individual unit, in combination, or as the full 7-unit portfolio at a $7,423,655 target ($300.21/SF blended)
Photos
Availability
| Unit | Floor | Size (SF) | Rate | Price | Status | Available |
|---|---|---|---|---|---|---|
| Unit 100 | 1 | 3,570 | $26.00/SF NNN | $1,053,150 | Available | — |
| Unit 101 | 1 | 3,345 | $26.00/SF NNN | $986,775 | Available | — |
| Unit 200 | 2 | 3,689 | $27.00/SF NNN | $1,180,480 | Available | — |
| Unit 201 | 2 | 3,345 | — | $1,036,950 | Available | — |
| Unit 300 | 3 | 4,039 | $26.00/SF NNN | $1,211,700 | Available | — |
| Unit 400 | 4 | 3,640 | $25.50/SF NNN | $1,055,600 | Available | — |
| Unit 401 | 4 | 3,100 | $25.50/SF NNN | $899,000 | Available | — |
Floor Plan
