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Sandy Lerner Of Cisco Systems Sells Ayrshire Farm In Upperville Virginia For $19.8M

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SOLD
$19,800,000

Virginia

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Sandy Lerner Of Cisco Systems Sells Ayrshire Farm In Upperville Virginia For $19.8M

21846 Trappe Road

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Single Family17,000 SF
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Summary

VIRGINIA
Asset Type:Single Family
Price Per Square Foot:$1164
Total Square Footage:17000 SF
Transaction Type:Sale

The property located at 21846 Trappe Road in Upperville, VA, is a single-family asset that spans 571 acres. The sale was finalized on 03/03/2026 for $19,800,000. The estate comprises 17,000 square feet and has a price per square foot of $1,165.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $19,800,000
  • Address: 21846 Trappe Road
  • Market: Upperville, VA
  • Seller: Cisco Systems
  • Broker: Michael Rankin - Sotheby's International Realty
  • Acres: 571
  • Square Footage: 17,000
  • Price per Square Foot: $1,165

Sandy Lerner, co-founder of Cisco, was the seller of this estate, known as Ayrshire Farm. The sale represents a significant return on investment, nearly tripling her initial purchase price of $7 million from 1996 following a multi-year restoration that emphasized the preservation of historic details alongside the addition of modern amenities.

Players

Michael Rankin
2 deals$24M volume(202) 271-3344
BROKER

Cisco Systems
SELLER

Details

SOLD
IMAGE: 03/03/2026 ADDRESS: 21846 Trappe Road MARKET: Upperville, VA ASSET TYPE: Single Family ~ ACRES: 571 SELLER: Cisco Systems BROKER: Michael Rankin - Sotheby's International Realty SALE PRICE: $19,800,000 SF: 17,000 ~ PPSF: $1,165 NOTE: Cisco co-founder Sandy Lerner sold her 571-acre Virginia estate, Ayrshire Farm, for $19.8M, nearly tripling her 1996 purchase price of $7M after a multi-year restoration that preserved historic details and added modern amenities.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,056,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$70,345.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$93,862.10
Annual Debt Service$1,126,345.22