139 N Loudoun St
Winchester, VA 22601
139-145 North Loudoun Street Redevelopment · Retail Property For Sale

Marcus & Millichap is pleased to exclusively represent ownership in the sale of the property at 139-145 North Loudoun Street in Winchester, Virginia. This is a prime development opportunity in the walking pedestrian mall area of the downtown historic district of Winchester. The property as it is currently configured consists of 10,200 square feet of retail space on the first floor occupied by Dollar General, a 7,000 square foot basement (being used by the first-floor tenant), and 5,116 square feet of office space on the upper two floors. The property is primed for redevelopment into a mixed-use asset consisting of ground level retail and approximately 25 apartment units on the upper floors. Historic Winchester, Virginia, is situated in the scenic Shenandoah Valley and known as the Apple Capital of Virginia. With numerous historic attractions dating back to colonial days, as well as being home to Shenandoah University, Winchester sits along multiple major highways such as I-81, US-50, and US-522 allowing easy access to Washington, DC (73 miles away) and the Martinsburg, WV and Northern Virginia suburbs of DC less than 30 miles away. With a home ownership rate nearly 20% lower than the overall rate for the state of Virginia and a much higher rental rate per capita, Winchester is an ideal location for multifamily properties. Since approximately 2015, Winchester has seen a dramatic increase in development and investment due to an explosion of job growth. Major companies like Amazon, Procter & Gamble, Navy Federal Credit Union, and even the FBI, have all opened large facilities in the immediate Winchester area, bringing thousands of new, higher-paying jobs to the area. Over the past decade Winchester has also been recognized by a number of national publications, including Reader’s Digest, AARP Magazine, Forbes, MarketWatch.com, Kiplinger’s Personal Finance, Fidelity.com, and Where to Retire magazine, as one of the best places in the United States to retire. The city is well-appointed for older citizens with tons of amenities, shopping, and restaurants, and boasts approximately 14.5% of the population over the age of 65. As Reader Digest wrote in 2017, there is “room to roam and clean air to breathe” in a “quiet space to reflect and relax, just 65-miles west of Washington, DC.”