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Listed by William Edmond Schoeb III • Samson Properties
$ 2,295,000
Est. payment /mo
Active
101 & 109 N 21ST ST Purcellville, VA 20132
4,872 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 4,872 sqft
Price per Sqft $471
MLS Listing ID VALO2093126
Year Built 1908
Annual Tax Amount $5,634
Tax Year 2025
Lot Size 2,614 Sqft
Acres 0.06
Property Sub-Type Mixed Use
Source BRIGHT
Property Description
Flagship Corner Property with Tax Credit Incentives & Approved Mixed-Use Redevelopment Plans-Downtown Purcellville
An exceptional investment opportunity awaits in the heart of historic downtown Purcellville. Known locally as The White Palace, this iconic corner property is primed for transformation. With the interior already fully gutted, a Certificate of Design Approval secured, and eligibility for up to 45% in combined state and federal historic tax credits, this project offers a rare combination of vision, value, and velocity.
Whether you're a boutique hotel developer, a restaurateur looking for dual concepts, or an investor seeking long-term value in one of Loudoun County's most affluent communities, The Palace is your platform for a standout commercial asset.
Property Highlights:
Flexible mixed-use zoning ideal for a boutique hotel, dual restaurant concepts, event space, or creative commercial uses
Approved architectural plans include 4 hotel rooms on the second floor and 3 on the third, with two commercial storefronts at street level
Basement build-out potential to expand usable square footage and income streams
Directly across from a public parking lot, offering easy access for guests, patrons, and tenants
High-visibility corner lot in a walkable district poised for continued revitalization
Located on 21st Street, which is under consideration for a pedestrian-friendly streetscape as part of the town's economic development strategy
Designated as part of Virginia's Main Street Program, enhancing eligibility for additional incentives and support
Strategic Growth Location
Situated in Loudoun County-one of the wealthiest regions in the U.S. with a median household income exceeding $150,000-Purcellville is home to nearly 10,000 residents and continues to attract high-income professionals and families seeking charm and convenience.
The upcoming Rt. 690/Rt. 7 interchange will dramatically enhance east-west and north-south connectivity, channeling increased traffic into Purcellville's commercial core-directly benefiting The Palace's position and exposure.
Why Invest in The Palace
Potential for up to 45% in historic tax credits to offset renovation costs
Ready-to-execute development with plans and approvals in place
Strong future income potential through hotel stays, restaurant tenants, and commercial leases
Premium corner lot with public parking and high foot traffic
Located in a revitalizing district with long-term growth upside
Access to a high-income, pro-business market in Loudoun County
With site work initiated and major entitlement hurdles cleared, this is your opportunity to establish a legacy property in one of Northern Virginia's most desirable small towns.
An exceptional investment opportunity awaits in the heart of historic downtown Purcellville. Known locally as The White Palace, this iconic corner property is primed for transformation. With the interior already fully gutted, a Certificate of Design Approval secured, and eligibility for up to 45% in combined state and federal historic tax credits, this project offers a rare combination of vision, value, and velocity.
Whether you're a boutique hotel developer, a restaurateur looking for dual concepts, or an investor seeking long-term value in one of Loudoun County's most affluent communities, The Palace is your platform for a standout commercial asset.
Property Highlights:
Flexible mixed-use zoning ideal for a boutique hotel, dual restaurant concepts, event space, or creative commercial uses
Approved architectural plans include 4 hotel rooms on the second floor and 3 on the third, with two commercial storefronts at street level
Basement build-out potential to expand usable square footage and income streams
Directly across from a public parking lot, offering easy access for guests, patrons, and tenants
High-visibility corner lot in a walkable district poised for continued revitalization
Located on 21st Street, which is under consideration for a pedestrian-friendly streetscape as part of the town's economic development strategy
Designated as part of Virginia's Main Street Program, enhancing eligibility for additional incentives and support
Strategic Growth Location
Situated in Loudoun County-one of the wealthiest regions in the U.S. with a median household income exceeding $150,000-Purcellville is home to nearly 10,000 residents and continues to attract high-income professionals and families seeking charm and convenience.
The upcoming Rt. 690/Rt. 7 interchange will dramatically enhance east-west and north-south connectivity, channeling increased traffic into Purcellville's commercial core-directly benefiting The Palace's position and exposure.
Why Invest in The Palace
Potential for up to 45% in historic tax credits to offset renovation costs
Ready-to-execute development with plans and approvals in place
Strong future income potential through hotel stays, restaurant tenants, and commercial leases
Premium corner lot with public parking and high foot traffic
Located in a revitalizing district with long-term growth upside
Access to a high-income, pro-business market in Loudoun County
With site work initiated and major entitlement hurdles cleared, this is your opportunity to establish a legacy property in one of Northern Virginia's most desirable small towns.
Location
State VA
County Loudoun
Zoning PV:C4
Interior
Hot Water None
Heating None
Cooling None
Heat Source None
Exterior
Water Access N
Roof Type Metal
Accessibility None
Garage N
Building
Lot Description Corner
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Loudoun County Public Schools
Others
Tax ID 488375032000
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Negotiable
Listing Terms Cash, Negotiable
Financing Cash,Negotiable
Special Listing Condition Standard
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