"Alexandria - River Towers"

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COMMERCIAL CONDOMINIUM UNIT
– Previously Used as a Deli –

Known As:
6631 WAKEFIELD DRIVE
Units 114, 115 & 116
Off Belle View Boulevard
Alexandria, Fairfax County, VA 22307

NOTE: The information contained herein has been obtained from sources deemed reliable and is believed to be accurate. However, no express or implied warranty is made or may be inferred from any such representation. Dimensions, square footage and acreage contained herein are more or less. Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the property.

LOCATION:
6631 Wakefield Drive Units 114, 115 and 116 are located in the River Towers Condominium community in the Alexandria area of Northern Virginia. The complex sits a short distance west of the Potomac River, with Belle Haven Park, Dyke Marsh Wildlife Preserve and Mount Vernon District Park binding the east, south and western edges of the surrounding neighborhood. A golf course, marina and countless recreational options are also nearby. The location affords excellent proximity for those living and working in the area, with Old Town Alexandria, National Harbor and Washington, D.C. all in close proximity. River Towers itself, and the surrounding community, provide a high level of density suitable for any number of business types.

RIVER TOWERS:
The River Towers condominium complex comprises three buildings totaling roughly 500 residential units. The community features a number of amenities, including pools, outdoor recreational facilities, garden plots, club room, exercise room and ample parking. The condominium fee is $858.00 monthly for all three units.

Condominium Resale Packages: Unit 114, Unit 115, Unit 116

For more information, please visit: www.rivertowerscondo.org

UNITS:
The sale comprises Units 114, 115 and 116. The adjoining ground level units are largely open floor plan with a powder room, having been operated as a deli for most of the past few decades, and comprise a total of 1,089 square feet of gross unit area. Finishes include ceramic tile floor, drop ceiling, florescent lighting, heat pump, central air conditioning, and 125 amp electrical service. The property was previously approved for a beer and wine license, food license and tobacco sales. Approved uses can be found within the condominium documents, and the property is well situated for a variety of commercial uses, including both retail and office options.

TAX INFORMATION:
Published annual real estate taxes for all three units are $2,899.05, based on full value assessments of $223,260 (total).

TITLE:
In fee simple; sold free and clear of all liens.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $15,000 deposit, or 10% of the purchase price (whichever is greater), payable by cashier’s check or wire transfer, will be required of the purchaser at the Auctioneer’s office, 6500 Falls Road, Baltimore, MD 21209. Deposit funds shall be held by A. J. Billig & Co., LLC. Balance to be paid in cash at settlement, which shall take place within 45 days. If payment of the deposit or balance does not take place within the specified time, the deposit shall be forfeited and the property may be resold at the risk and expense of the purchaser. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of contract to date of settlement. All adjustments, including taxes, ground rent, condominium fees all other public charges and assessments payable on a monthly or annual basis, and sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of contract and assumed thereafter by the purchaser. The property will be sold in “AS IS” condition, subject to easements, agreements, restrictions or covenants of record affecting same, if any, and subject to the Declaration and By-laws of The River Towers Condominium. The Purchaser agrees to waive the right of rescission under Virginia Condominium Law. Purchaser assumes the risk of loss from the date of contract forward. If the Seller is unable to convey good and marketable title, the purchaser’s sole remedy in law or equity shall be limited to the refund of the deposit. Upon refund of the deposit this sale shall be null and void and of no effect, and the purchaser shall have no further claim against the Seller or Auctioneers. Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the purchaser except where otherwise mandated by local, State or Federal law. Time is of the essence. A 5% buyer’s premium will be added to the final bid price.