Nicholls Auction to sell three downtown Leesburg commercial buildings

Nicholls Auction Marketing Group will auction three attached commercial buildings at 3, 5 and 7 E Market Street in downtown Leesburg, Virginia, on Sept. 11. The rare estate offering includes 13 parking spaces, two income-producing buildings and zoning that could support multiple uses in the heart of the town’s business district.

Why it matters: - The sale puts a tightly clustered downtown Leesburg property on the market that could appeal to investors, owner-occupants and end users. - The buildings sit in the Leesburg HUBZone, which can be relevant to firms seeking federal contracting advantages. - The property’s location across from the Loudoun County Courthouse Complex adds visibility and long-term strategic value.

What happened: - Nicholls Auction Marketing Group announced an auction for three attached commercial buildings at 3, 5 and 7 E Market Street in Leesburg, Virginia. - The live auction is scheduled for Friday, Sept. 11 at 11 a.m. EST. - The property will be sold as a single offering because of the parking lot design and shared heating systems. - The offering includes 0.16 +/- acres and 13 parking spaces. - The site is across the street from the historic Loudoun County Courthouse Complex on E Market Street (Route 7).

The details: - 3 E Market St. is currently leased to Mocatinas, a tea house/café, at $5,000 a month through Nov. 30, 2029. - 3 E Market St. includes about 3,822 square feet, was built in 1890/1993, and carries annual real estate taxes of $9,535.86. - 3 E Market St. has four parking spaces, a metal roof from the 1990s, a brick exterior and central air conditioning. - 5 E Market St. is currently vacant. - 5 E Market St. includes about 2,071 square feet, was built in 1850, and carries annual real estate taxes of $6,365.86. - 5 E Market St. has two parking spaces, hardwood floors, a partial basement and a metal exterior with a metal roof of unknown age. - 7 E Market St. is leased to one law firm for $5,750 a month through Dec. 31, 2026, with a sublease to another law firm on the main level. - 7 E Market St. includes about 5,071 square feet, was built in 1890/1993, and carries annual real estate taxes of $9,298.22. - 7 E Market St. has seven of the 13 rear parking spaces, a brick exterior and a metal roof less than 10 years old. - The offering also includes an additional 0.03 +/- acre parking lot parcel with annual real estate taxes of $2,210.30. - The landlord currently handles all parking lot and exterior maintenance. - Brokers must pre-register to qualify for compensation. - The auction is open to the public. - Craig Damewood of Damewood Auctioneers is the contact for more information at 703-303-4760. - More information is available on Nicholls Auction Marketing Group's website.

Between the lines: - The combination of current income, vacancy and flexible layout gives the property multiple repositioning paths. - The buildings’ mix of office, café and former residential use suggests the site could support continued commercial use or redevelopment over time. - The history tied to Samuel D. Engle and the preserved architectural details add a legacy angle that may increase buyer interest. - The HUBZone setting could broaden the buyer pool among government-focused small businesses.

What's next: - Interested buyers can inspect the property ahead of the Sept. 11 auction and bid in public. - Buyers seeking broker compensation must complete preregistration before the auction. - Nicholls Auction Marketing Group expects to market the property through the auction process rather than a traditional listing.

The bottom line: - Downtown Leesburg is getting a rare estate auction for a well-located, mixed-use commercial package with income in place and room for repositioning.