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602 S King St - Waverly Park 3,100 - 4,039 SF Condo Units Offered at $899,000 - $1,211,700 Per Unit in Leesburg, VA 20175
Investment Highlights
- Rare downtown Leesburg portfolio
- Flexible for multiple buyer and tenant profiles
- Full-building assemblage potential
- Supply-constrained submarket
- Proven location fundamentals
- Premier professional environment
Executive Summary
Serafin Real Estate is pleased to present for sale Waverly Park Office Condominiums, a seven-unit office condominium portfolio totaling 27,267 square feet at 602 South King Street in Historic Downtown Leesburg, Virginia. The offering represents a rare opportunity to acquire a controlling interest — seven of eight condominiums — within a well-established Class B office building situated on the primary commercial corridor of Loudoun County's county seat. The portfolio was acquired through a foreclosure auction in April 2026, creating an immediate basis advantage and a compelling entry point relative to stabilized market value for buyers prepared to execute. The investment thesis is straightforward: a tight submarket, a generational location, and a flexible asset that serves multiple buyer profiles. The Leesburg / West Loudoun office submarket currently operates at 4.3% vacancy for Class B product — one of the tightest in all of Northern Virginia — while leasing velocity has increased 37% year-over-year. One unit is leased direct to a long-term tenant through March 2029 at $23.06 per square foot with 2.5% annual escalations, providing immediate in-place income. The remaining 23,580 square feet represents lease-up or owner-occupancy potential in a submarket where professional service demand is durable and absorption timelines are measured in months, not years. The portfolio is ideally structured for an owner-user seeking to occupy a portion of the building while generating leased income from the balance — a profile well-supported by SBA 504 financing at up to 90% loan-to-value with 25-year amortization. Professional services firms, medical and dental practices, faith-based organizations, and family-owned businesses will find in Waverly Park a rare downtown Leesburg address with on-site parking, elevator access, and a 1988 steel-frame construction base that has proven its durability and tenant appeal. For the investor buyer, the fractured vacancy presents a value-add play with clear comparables supporting stabilized pricing well above the current acquisition basis. And for the most strategic acquirer, the presence of an independently owned eighth condominium — occupied by an established dental practice — represents a long-term assemblage opportunity that could ultimately deliver full-building control at a meaningful premium to today's pricing.
7 Units Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | APN/Parcel ID | 232-47-4141-001 |
| Sale Type | Investment |
| APN/Parcel ID | 232-47-4141-001 |
Description
Discover a rare foreclosure opportunity to acquire prime commercial office space in the heart of vibrant downtown Leesburg—along high-traffic Route 15 (South King Street) in one of Northern Virginia's most desirable and affluent markets. Loudoun County continues to rank among the fastest growing and wealthiest counties in the U.S., with strong demand for flexible professional spaces near historic charm, government offices, amenities, and business corridors.
Waverly Park is a free-standing, four-level Class B office building built in 1988 and governed by the Declaration for Waverly Park Office Condominium. We are offering at foreclosure auction seven (7) individual commercial office condominiums. Unit 202 (may be part of 201) and Unit 300 (consists of two tenants) appear to be tenant occupied. The remaining five (5) units offered at auction are believed to be vacant and free of leases, providing immediate control for investors, owner-users, or re-tenanting strategies. Crescent Design District allows reconfiguration for office, retail, medical, or other permitted uses. This information is believed accurate but not has not been verified.
Waverly Park is a free-standing, four-level Class B office building built in 1988 and governed by the Declaration for Waverly Park Office Condominium. We are offering at foreclosure auction seven (7) individual commercial office condominiums. Unit 202 (may be part of 201) and Unit 300 (consists of two tenants) appear to be tenant occupied. The remaining five (5) units offered at auction are believed to be vacant and free of leases, providing immediate control for investors, owner-users, or re-tenanting strategies. Crescent Design District allows reconfiguration for office, retail, medical, or other permitted uses. This information is believed accurate but not has not been verified.
| Sale Type | Investment |
| Sale Type | Investment |
Description
Zone retail entire growing floor zones retail with multiple individual spaces in condo 100 & 101 pkenty of parking !!
Must see!
1/7 commercial & res cindos iffered in a portookio sale for total of 7 units for $200.00 psf!! For quick sale
As is where is
Must see!
1/7 commercial & res cindos iffered in a portookio sale for total of 7 units for $200.00 psf!! For quick sale
As is where is
| Sale Type | Investment |
| Sale Type | Investment |
Description
Largest condo in bldg with multiple division opportunities with 3 sep entrances & a private bathroom at kimg st entry end for this unit only and a large kitchen w adjacent D/R room or small conf rm +additional large furnished conf room. Multiple offices built out with parallel hallways and large windowed private offices along both outside walls. One large open space can be accomplished on lobby reception end of unit. Large file room and interior lrg work rooms with supply closet multiple more office suites can be added if desired. Build out to be paid by Tenant. Ideal for medical offices or urgent care. Or a bank with possibility of creating a outside entry from side wall for an ATM space in between existing outer walls on north side of suite to sidewalk and parking lot. and a new double door system. Ideal as a large Pharmacy like a Walgreens with potential for drive up window & medical spaces.
| Sale Type | Investment |
| Sale Type | Investment |
| Sale Type | Investment |
| Sale Type | Investment |
| Sale Type | Investment |
| Sale Type | Investment |
| Sale Type | Investment |
| Sale Type | Investment |
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 100 | 3,570 SF | Office | $1,053,150 ($295.00/SF) | - |
| Unit 101 | 3,345 SF | Retail | $986,775 ($295.00/SF) | - |
| Unit 200 | 3,689 SF | Office/Medical | $1,180,480 ($320.00/SF) | - |
| Unit 201 | 3,345 SF | Office/Medical | $1,036,950 ($310.00/SF) | - |
| Unit 300 | 4,039 SF | Office | $1,211,700 ($300.00/SF) | - |
| Unit 400 | 3,640 SF | Office | $1,055,600 ($290.00/SF) | - |
| Unit 401 | 3,100 SF | Office | $899,000 ($290.00/SF) | - |
Unit 100
| Unit Size |
| 3,570 SF |
| Condo Use |
| Office |
| Price |
| $1,053,150 ($295.00/SF) |
| NOI |
| - |
Unit 101
| Unit Size |
| 3,345 SF |
| Condo Use |
| Retail |
| Price |
| $986,775 ($295.00/SF) |
| NOI |
| - |
Unit 200
| Unit Size |
| 3,689 SF |
| Condo Use |
| Office/Medical |
| Price |
| $1,180,480 ($320.00/SF) |
| NOI |
| - |
Unit 201
| Unit Size |
| 3,345 SF |
| Condo Use |
| Office/Medical |
| Price |
| $1,036,950 ($310.00/SF) |
| NOI |
| - |
Unit 300
| Unit Size |
| 4,039 SF |
| Condo Use |
| Office |
| Price |
| $1,211,700 ($300.00/SF) |
| NOI |
| - |
Unit 400
| Unit Size |
| 3,640 SF |
| Condo Use |
| Office |
| Price |
| $1,055,600 ($290.00/SF) |
| NOI |
| - |
Unit 401
| Unit Size |
| 3,100 SF |
| Condo Use |
| Office |
| Price |
| $899,000 ($290.00/SF) |
| NOI |
| - |
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Unit 100
| Unit Size | 3,570 SF |
| Condo Use | Office |
| Price | $1,053,150 ($295.00/SF) |
| NOI | - |
| Sale Type | Investment |
| APN/Parcel ID | 232-47-4141-001 |
| Description | |
| Discover a rare foreclosure opportunity to acquire prime commercial office space in the heart of vibrant downtown Leesburg—along high-traffic Route 15 (South King Street) in one of Northern Virginia's most desirable and affluent markets. Loudoun County continues to rank among the fastest growing and wealthiest counties in the U.S., with strong demand for flexible professional spaces near historic charm, government offices, amenities, and business corridors.<br> <br> Waverly Park is a free-standing, four-level Class B office building built in 1988 and governed by the Declaration for Waverly Park Office Condominium. We are offering at foreclosure auction seven (7) individual commercial office condominiums. Unit 202 (may be part of 201) and Unit 300 (consists of two tenants) appear to be tenant occupied. The remaining five (5) units offered at auction are believed to be vacant and free of leases, providing immediate control for investors, owner-users, or re-tenanting strategies. Crescent Design District allows reconfiguration for office, retail, medical, or other permitted uses. This information is believed accurate but not has not been verified.</li></ul> |
1 of 0
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Unit 101
| Unit Size | 3,345 SF |
| Condo Use | Retail |
| Price | $986,775 ($295.00/SF) |
| NOI | - |
| Sale Type | Investment |
| Description | |
| Zone retail entire growing floor zones retail with multiple individual spaces in condo 100 & 101 pkenty of parking !!<br> Must see!<br> 1/7 commercial & res cindos iffered in a portookio sale for total of 7 units for $200.00 psf!! For quick sale <br> As is where is</li></ul> |
1 of 0
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Unit 200
| Unit Size | 3,689 SF |
| Condo Use | Office/Medical |
| Price | $1,180,480 ($320.00/SF) |
| NOI | - |
| Sale Type | Investment |
| Description | |
| Largest condo in bldg with multiple division opportunities with 3 sep entrances & a private bathroom at kimg st entry end for this unit only and a large kitchen w adjacent D/R room or small conf rm +additional large furnished conf room. Multiple offices built out with parallel hallways and large windowed private offices along both outside walls. One large open space can be accomplished on lobby reception end of unit. Large file room and interior lrg work rooms with supply closet multiple more office suites can be added if desired. Build out to be paid by Tenant. Ideal for medical offices or urgent care. Or a bank with possibility of creating a outside entry from side wall for an ATM space in between existing outer walls on north side of suite to sidewalk and parking lot. and a new double door system. Ideal as a large Pharmacy like a Walgreens with potential for drive up window & medical spaces.</li></ul> |
1 of 0
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Unit 201
| Unit Size | 3,345 SF |
| Condo Use | Office/Medical |
| Price | $1,036,950 ($310.00/SF) |
| NOI | - |
| Sale Type | Investment |
1 of 0
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Unit 300
| Unit Size | 4,039 SF |
| Condo Use | Office |
| Price | $1,211,700 ($300.00/SF) |
| NOI | - |
| Sale Type | Investment |
1 of 0
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Unit 400
| Unit Size | 3,640 SF |
| Condo Use | Office |
| Price | $1,055,600 ($290.00/SF) |
| NOI | - |
| Sale Type | Investment |
1 of 0
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Matterport 3D Exterior
Matterport 3D Tour
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Map
Unit 401
| Unit Size | 3,100 SF |
| Condo Use | Office |
| Price | $899,000 ($290.00/SF) |
| NOI | - |
| Sale Type | Investment |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 30,986 SF | Typical Floor Size | 6,268 SF |
| Property Type | Office | Year Built | 1987 |
| Property Subtype | Medical | Lot Size | 1.06 AC |
| Building Class | B | Parking Ratio | 3.19/1,000 SF |
| Floors | 4 | ||
| Zoning | B-2 - Crescent Design District and B-2 (see attached zoning Permitted uses) | ||
| Total Building Size | 30,986 SF |
| Property Type | Office |
| Property Subtype | Medical |
| Building Class | B |
| Floors | 4 |
| Typical Floor Size | 6,268 SF |
| Year Built | 1987 |
| Lot Size | 1.06 AC |
| Parking Ratio | 3.19/1,000 SF |
| Zoning | B-2 - Crescent Design District and B-2 (see attached zoning Permitted uses) |
Amenities
- 24 Hour Access
- Reception
- Air Conditioning
- Balcony
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
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602 S King St - Waverly Park
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