"North Bethesda"

Live & Online Simulcast Bidding
To the Highest Bidder over $500,000

– North Bethesda –
COMMERCIAL CONDOMINIUM
3,015± Square Feet GBA ✦ Surface Parking

Sale On Premises:
6243 EXECUTIVE BOULEVARD
“The Executive Condominiums”
a/k/a Unit Number 12-A-6243
Near Josiah Henson Parkway
Rockville, Maryland 20852

Online Bidding Opens
TUESDAY, SEPTEMBER 20, 2022

Live Onsite Auction Begins
THURSDAY, SEPTEMBER 22, 2022
AT 2:00 P.M.

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:
6243 Executive Boulevard is located in “The Executive Condominiums” in the North Bethesda area of Montgomery County. The location is interchangeably referred to as Rockville, and is within a Rockville zip code. The location affords excellent convenience and a central location for customers and employees. Positioned between Executive Boulevard and Josiah Henson Parkway, the complex offers immediate access to both Rockville Pike (MD-355) and Old Georgetown Road (MD-187). I-270 is within approximately 1.6 miles both West and South, and the Capital Beltway (I-495) is approximately 3 miles south. A very wide variety of businesses, non-profits and governmental organizations are in close proximity.

For more information about the area, please visit:
Montgomery County, MD – www.montgomerycountymd.gov
City Of Rockville – www.rockvillemd.gov
Bethesda Urban Partnership – www.bethesda.org

CONDOMINIUM COMPLEX:
The Executive Condominiums comprise approximately 81 units originally developed in the late 1970s and early 1980s. In addition to the excellent location, the complex features ample surface parking, well-manicured landscaping and interior courtyards. Surrounding businesses are varied, and include professional services, medical use, therapy, spa and salon services and education providers. The monthly condominium fee is $504. Condominium Resale Package

UNIT:
6243 Executive Boulevard is a two level commercial condominium unit comprising 3,015 square feet of gross unit area, according to public records. Formally known as Unit No. 12-A-6243 on “Phase Two, The Executive Condominiums” on Montgomery County Condominium Plat numbers 2446-2451. Plat

The unit is attractively positioned on an interior courtyard with calm walking paths and tidy landscaping. Interior finishes are drywall, drop ceiling, carpet and vinyl flooring. The bright, open unit is arranged as an office, with entry foyer, reception area, private offices, exam rooms, file storage, powder rooms and largely open mezzanine floor. Two heat pumps and CAC.

ZONING:
Zoned EOF – Employment Office

Please see Montgomery County Planning and Zoning for more information:
Montgomery Planning – montgomeryplanning.org

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

TAXES:
Current annual real estate taxes are $11,728.80, based on a full value tax assessment of $1,029,067.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
Live Auction Bidders – a $50,000 deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. The deposit shall be increased to 10% of the purchase price within 24 hours at the Auctioneer’s office (wire or cashier’s check).

Online Auction Bidders – a $50,000 deposit, payable by cashier’s check or wire, will be required of all online bidders by 12:00 Noon on Wednesday, September 21, 2022. The deposit will be held in escrow until the completion of the auction and will be retained from the winning bidder. Other bidder deposits will be returned within one business day. Interested parties who do not provide a deposit in advance as stated above will not be permitted to bid. The deposit shall be increased to 10% of the purchase price by cashier’s check or wire transfer by 4:30 P.M. on the day of auction. Deposit Escrow Agreement

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 and 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, and subject to easements, agreements, restrictions or covenants of record affecting same, if any, and subject to the Declaration and By-Laws of The Executive Condominiums Association. Purchaser assumes the risk of loss from the date of contract forward. The Purchaser waives and releases the Seller, the Auctioneers, and their respective agents, successors and assigns from any and all claims the Purchaser and/or its successors and assigns may now have or may have in the future relating to the condition of the property, including but not limited to the environmental condition thereof. The Purchaser agrees to waive any right of rescission under Maryland Condominium Law, having reviewed the condominium resale package prior to the auction and execution of the contract of sale. 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.

No Buyer’s Premium!