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24186297
24186296

6179 Executive Blvd, North Bethesda, MD 20852

Paradise Realty Advisors Inc.
Listed by Paradise Realty Advisors Inc.
$395,995
353 days on market
Updated 29 days ago

6179 Executive Blvd

Details
Property Type Office
Sub Type Executive Office
Square Footage 913
Net Rentable (SqFt) 913
Cap Rate 6.37%
NOI $25,239
Occupancy 100%
Tenancy Single
Lease Type NN+
Lease Expiration 02/28/2029
Remaining Term 2.7
Price per SqFt $434
Broker Co-Op Yes
Class B
Year Built 1981
Year Renovated 2020
Stories 1
Parking Spaces 15 spaces
Parking Per SqFt 16.43
Investment Type Net Lease
Ownership Executive Realty Inc
Sale Condition 1031 exchange

Office | 6.37% CAP | 913 SqFt

Marketing description

Current Medical Tenant has occupied this Unit since YR 2020 and current Lease now runs

through on 2/28/29 and this is their second renewal early!

Features of 6179 Executive:

Beautiful One Level First Floor Walk-in Entrance Office Condo with many upgrades

Spacious Furnished Reception Area with Medical glass enclosed Receptionist Workstation

Private Bathroom

4 Exam Room Offices (All Main Level)

Upgraded energy efficient lighting and ceiling tiles

Lots of Natural Light with Oversized Windows that can open for fresh air

HVAC Systems for ideal temperature environment

$41,000 in Renovation Upgrades has already been invested in this property

Carpet and Tile

Easy Street Level Park and Walk-in Entrance

Free Parking

Walking distance to Pike and Rose Retail Center and Metro

Approx 913 SF

Current Lease Term 3/1/20-2/28/29. 2% increases annually 3/1. Tenant has renewed early

twice.

Current Rent $2,603.91/mo plus any increases in Base Condo fees or Base Taxes

Landlord Responsible for Base YR Real Estate Taxes, Base YR Condo Fees, Capital Expenditures

Tenant Responsible for any increases from Base YR Real Estate Taxes and Base YR Condo Fees

Tenant Responsible for all Repairs, HVAC Maintenance, Utilities, Janitorial etc.

Tenant Responsible for Utilities/Water/Sewer/Electric are all billed with separate meter.

RE Taxes (7/1/24-6/30/25) $3,611.33 (For YR 2024 Tenant was responsible for $445.57 when

billed)

Tenant Reimburses RE Taxes in excess of Base Yr Rate (For 2024 YR Tenant Reimb was $445.57)

Condo Fee $171.00/mo (Tenant pays $23/mo portion as included in Current Rent)

Tenant Reimburses Condo Fees in excess of Base Yr Rate and are added to Rent

(For YR 2024 The Condo Fees in excess of Base Yr paid by Tenant as additional Rent was $276)

Condo Fees includes Professional Management, Exterior Maintenance, Roof, Structure,

Landscaping, Trash Dumpsters, Recycle Bins, Snow Plowing, External Insurance

Owner willing to Sell 6179 Unit in combination with Units and/or 6177, 6181, 6183

Investment highlights

Long Term Medical Tenant who Has renewed twice early

Stable Investment centrally located in North Bethesda MD

Free Parking very attractive for Medical Clients

Listing Contacts

Paradise Realty Advisors Inc.
Listed by Paradise Realty Advisors Inc.

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$25,239.00
$2,103.25/mo

Valuation Metrics

0
DSCR
6.37%
Cap Rate
6.37%
ROI

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