37240 E RICHARDSON LN, PURCELLVILLE, Virginia 20132 - $5,499,900

1.86 Acre
Property Description

27,000 SF free-standing, Class A industrial building in Purcellville, VA. Built in 1998, the property was purchased by the current owners in 2006 and has undergone numerous renovations as recently as 2018. Home to Shenandoah Sash & Door for nearly 15 years, every square foot of the property reflects the luxury and style that its customers have come to know; from high-end built-in cabinetry and bookcases to decorative moulding and wainscoting throughout. The value of the windows and doors, alone, is in the tens of thousands. If this were not enough, the property comes fully furnished and beautifully decorated. In addition to the typical desks and chairs, leather furniture, hardwood conference tables, attractive art, faux plants, mounted televisions, and file cabinets may convey with the sale; elevating this beyond a mere plug n’ play deal to an inheritance of meticulous attention to detail, quality, and class. Approximately 200’ long by 140’ wide, the building sits on 1.86 acres with over a half-acre parking lot which provides 18-wheelers with easy access to the property’s 2 loading docks and drive-in door along with ample parking for cars and trucks. The warehouse has 25’ x 50’ column spacing and 16’-18’ clear height with upgraded lighting and ductwork in place to condition the entire space. The 21,000+ square feet include approximately 1,800 SF of showroom space, a 400 SF workshop, a small office and bathroom, and grand conference room. A perfect mix of utility and elegance. For employees and customers, the first impression of the property is a mix of simplicity and beauty; perfect proportions, clean lines, and manicured landscaping. Meticulous and intentional. The 3,300 SF of office space opens to a sunlit foyer with mosaic tile. One’s view is immediately drawn to the right due to the architecturally stunning, curved glass wall of the conference room, perhaps more accurately titled the closing room, which is directly across the hall from one of the 6 large, windowed offices. While one of the 2 corner offices is for the company’s executive, the other 5 are multi-person offices and the other 4 interior offices are bright with a mix of glass doors and cased openings. The elegant but economical kitchen features stylish countertops, designer fixtures, and ceramic tile; the quality and consistency of which extend to 2 ADA bathrooms. Whether a weekday or weekend, a sunny day or cloudy, this is a welcoming and energizing environment. Quality and quantity are seemingly conflicting concepts, or rather ones with a proportional relationship similar to supply and demand, and rarely do both present themselves in perfect harmony as they do here. The 2019 SIOR Industrial Report predicted a 10% increase in capital investment and continued cap rate compression in 2020 prior to the pandemic. Industrial space has been the only real estate asset class to perform well and actually increase in value during this time; a natural progression but one accelerated by the increased need for storage and distribution. This is not just storage of products. It refers to data as well. The fact that Loudoun County is home to 70% of the world’s internet traffic has contributed to industrially-zoned land selling for $1M/acre. Thirty minutes from Dulles Airport and less than 10 miles to Leesburg, this property presents a rare opportunity to own a free-standing industrial building under 50,000 SF and provides a competitive advantage to storers and distributors of either data or products as the western-most industrial development in Loudoun County, making it the last, last-mile delivery station. It is the 3rd largest building and comprises over 10% of the Purcellville industrial market. With a market sales price of $216/SF for the Purcellville industrial market, the asking price of $203.70/SF represents over $330,000 in savings/value, a cost of ownership that is over $1.00/SF lower than

Property Details
Basic Details
Property Type : Land
Price : $5,499,900
Year Built : 1998
Lot : 1.86 Acre
Status : Active
: Central, Other
: Central a/c
Address Map
Northern Virginia
W78° 16' 59.2''
N39° 8' 47.2''
Additional Details
27,000 Sq.Ft
: M-1
: Settlement
Public Sewer
: Public
Ryan Rauner



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