FOR SALE

7731 & 7741 AIRPARK ROAD

FOR MORE INFORMATION:

Gary Montgomery, Vice President

301.704.8709
gmontgomery@hbwservices.com

1055 First Street, Suite 200

Rockville, MD 20850
301.424.2900
 Contents
SECTION 1: INVESTMENT SUMMARY

Investment Summary 2

SECTION 2: INCOME & EXPENSE STATEMENT

Income Expenses for Net Operating Income 4

7731 Airpark Road 5

7741 Airpark Road 6

SECTION 4: TAX MAP, AREA MAP & TAX BILLS

Tax Map 8

Area Map 9

7731 Airpark Road 10

7741 Airpark Road 11

SECTION 5: BUILDING PHOTOS & AERIALS

SECTION 6: DEMOGRAPHICS

Demographic Summary Report 17

Daytime Employment Report 18

SECTION 7: CONFIDENTIALITY & NON-DISCLOSURE AGREEMENT

 INVESTMENT
SUMMARY

SECTION 1:
INVESTMENT SUMMARY
 Investment Summary

PROPERTY: 7731 - 7740 Airpark Road, Gaithersburg, MD 20879

LOCATION AND This property, also known as 7801 - 7807 Cessna Avenue,
BACKGROUND: is a brick and masonry constructed warehouse property
located in the Montgomery Airpark. The building was
constructed in 1985 and features four (4) docks on the
southern side and four (4) drive-in doors on the north.
Ceiling height is 22 feet and the building is currently
demised into four (4) separate tenant spaces. This
building has continuous enjoyed full occupancy and is
situated on a high traffic corner in the park.

BUILDING AREA: 23,190 SF

LAND AREA: Lot 3 26,293 SF

Lot 4 27,287 SF
Total 53,580 SF or 1.23 acres

LEGAL DESCRIPTION: Lot 3 & 4, Block D

Subdivision - Montgomery County Airpark Industrial Sites
Tax Map GU121

PARKING: The site currently has 38 parking spaces or 1.6 per 1,000
SF

ZONING: IL-1.0
Maximum Height: 50 ft - Montgomery County Regulations

OCCUPANCY 100%

NOI: $229,967.16

PRICE: $3,650,000.00

7731 - 7741 AIRPARK ROAD | 2

INCOME & EXPENSE
STATEMENT

SECTION 2: INCOME &

EXPENSE STATEMENT
 Income Expenses for Net Operating Income
Tenant Income SF Lease Expiration
Royal Gutter $129,900.00 11,273 10/31/2018
Fireplace Shop $85,418.52 6,203 08/31/2020
Tex AM Construction $45,198.84 2,983 10/31/2019
Valid Electric $36,312.24 2,731 02/28/2018
Total $296,829.60 Total SF 23,190

CAM Income
RE Taxes: $11,735.27
Utilities: $1,888.86
Interest & Late Charges: $8,920.54
Actual Income: $319,374.27

ALL LEASES ARE INDUSTRIAL GROSS

Expenses
RE Taxes $37,270.05
CAM $8,511.18
Repairs & Maintenance $27,199.85
Utilities $3,793.85
Property Management $9,737.18
Insurance $2,895.00
Total Expenses: $89,407.11
Total Annual Income: $319,374.27
NOI: $229,967.16

7731 - 7741 AIRPARK ROAD | 4

7731 Airpark Road

7731 - 7741 AIRPARK ROAD | 5

7741 Airpark Road

7731 - 7741 AIRPARK ROAD | 6

TAX MAP, AREA MAP, &
TAX BILLS

SECTION 4: TAX MAP,

AREA MAP & TAX BILLS
 Tax Map

7731 - 7741 AIRPARK ROAD

7731 - 7741 AIRPARK ROAD | 8

 Area Map

7731 - 7741 AIRPARK ROAD

7731 - 7741 AIRPARK ROAD | 9

 7731 Airpark Road
Tax Year: 07/01/2017 - 06/30/2018

Department of Finance
Division of Treasury
255 Rockville Pike, L-15
(Monroe Street Entrance)
ANNUAL BILL Rockville, MD 20850
TAX PERIOD 07/01/2017-06/30/2018
FULL LEVY YEAR Hours: 8:00 a.m. - 4:30 p.m.
LEVY YEAR 2017 Mon. - Fri.

MORE ASSOCIATES LLC

C/O HBW GROUP
1055 1ST ST STE 200 NOT A PRINCIPAL RESIDENCE
ROCKVILLE, MD 20850-8400
BILL DATE

02/02/2018
PROPERTY DESCRIPTION
MONTGOMERY COUNTY
AIRPARK INDUSTRIAL SITES
LOT BLOCK DISTRICT SUB BILL # ACCOUNT #

3 D 01 009 R042 37000177 00002442

PROPERTY ADDRESS REFUSE AREA REFUSE UNITS

UNKNOWN 7731 AIRPARK RD

*PER $100 OF ASSESSMENT
TAX DESCRIPTION ASSESSMENT RATE TAX/CHARGE
STATE PROPERTY TAX 331,200 .1120 370.94 CURRENT YEAR FULL CASH VALUE
COUNTY PROPERTY TAX 331,200 1.0129 3,354.73 TAXABLE ASSESSMENT
WATER QUAL PROTECT CHG (NR) 928.73
TOTAL 4,654.40 331,200
PRIOR PAYMENTS **** 4654.40
INTEREST 0
CONSTANT YIELD RATE INFORMATION

COUNTY RATE OF 0.7484 IS LESS THAN

THE CONSTANT YIELD RATE OF 0.7541
BY 0.0057

0.00
YOU CAN VIEW AND PAY YOUR BILL ON THE INTERNET AT www.montgomerycountymd.gov/finance

PLEASE RETAIN THE TOP PORTION FOR YOUR RECORDS.

RETURN THIS PORTION WITH PAYMENT

BILL #

37000177
TAX PERIOD 07/01/2017 - 06/30/2018
FULL LEVY YEAR
Make Check Payable to:
Montgomery County, MD
Check here if your address changed
& enter change on reverse side.
ACCOUNT # LEVY YEAR AMOUNT DUE

00002442 2017 0.00

7731 - 7741 AIRPARK ROAD | 10

AMOUNT PAID
 7741 Airpark Road
Tax Year: 07/01/2017 - 06/30/2018

Department of Finance
Division of Treasury
255 Rockville Pike, L-15
(Monroe Street Entrance)
ANNUAL BILL Rockville, MD 20850
TAX PERIOD 07/01/2017-06/30/2018
FULL LEVY YEAR Hours: 8:00 a.m. - 4:30 p.m.
LEVY YEAR 2017 Mon. - Fri.

MORE ASSOCIATES LLC

C/O HBW GROUP
1055 1ST ST STE 200 NOT A PRINCIPAL RESIDENCE
ROCKVILLE, MD 20850-8400
BILL DATE

02/02/2018
PROPERTY DESCRIPTION
MONTGOMERY COUNTY
AIRPARK INDUSTRIAL SITES
LOT BLOCK DISTRICT SUB BILL # ACCOUNT #

4 D 01 009 R042 37000178 00002453

PROPERTY ADDRESS REFUSE AREA REFUSE UNITS

UNKNOWN 7741 AIRPARK RD R35 11

*PER $100 OF ASSESSMENT
TAX DESCRIPTION ASSESSMENT RATE TAX/CHARGE
STATE PROPERTY TAX 2,453,700 .1120 2,748.14 CURRENT YEAR FULL CASH VALUE
COUNTY PROPERTY TAX 2,453,700 1.0129 24,853.54 TAXABLE ASSESSMENT
SOLID WASTE CHARGE 357.6700 3,934.37
BAY RESTORATION FUND 60.00 2,453,700
WATER QUAL PROTECT CHG (NR) 1,019.60
TOTAL 32,615.65

PRIOR PAYMENTS **** 32615.65 CONSTANT YIELD RATE INFORMATION

INTEREST 0 COUNTY RATE OF 0.7484 IS LESS THAN
THE CONSTANT YIELD RATE OF 0.7541
BY 0.0057

0.00
YOU CAN VIEW AND PAY YOUR BILL ON THE INTERNET AT www.montgomerycountymd.gov/finance

PLEASE RETAIN THE TOP PORTION FOR YOUR RECORDS.

RETURN THIS PORTION WITH PAYMENT

BILL #

37000178
TAX PERIOD 07/01/2017 - 06/30/2018
FULL LEVY YEAR
Make Check Payable to:
Montgomery County, MD
Check here if your address changed
& enter change on reverse side.
ACCOUNT # LEVY YEAR AMOUNT DUE

00002453 2017 0.00

7731 - 7741 AIRPARK ROAD | 11

AMOUNT PAID
BUILDING PHOTOS &
AERIALS

SECTION 5: BUILDING
PHOTOS & AERIALS
DEMOGRAPHICS

SECTION 6:
DEMOGRAPHICS
 Demographic Summary Report

RADIUS 1 MILE 3 MILE 5 MILE

Population
2022 Projection 8,275 102,924 216,059
2017 Estimate 7,880 97,921 205,465
2010 Census 7,265 89,833 187,987
Growth 2017 - 2022 5.01% 5.11% 5.16%
Growth 2010 - 2017 8.47% 9.00% 9.30%
Household
2022 Projection 2,687 35,011 74,941
2017 Estimate 2,562 33,343 71,311
2010 Census 2,381 30,757 65,442
Growth 2017 - 2022 4.88% 5.00% 5.09%
Growth 2010 - 2017 7.60% 8.41% 8.97%
Owner Occupied 2,023 / 78.96% 22,864 / 65.57% 47,004 / 65.91%
Renter Occupied 540 / 21.08% 10,479 / 31.43% 24,307 / 34.09%
2017 Households by HH Income 2,562 33,343 71,311
Income: <$25,000 364 / 14.21% 3,121 / 9.36% 6,523 / 9.15%
Income: $25,000 - $50,000 380 / 14.83% 6,624 / 19.87% 12,808 / 17.96%
Income: $50,000 - $75,000 358 / 13.97% 5,278 / 15.83% 11,081 / 15.54%
Income: $75,000 - $100,000 323 / 12.61% 4,280 / 12.84% 9,088 / 12.74%
Income: $100,000 - $125,000 284 / 11.09% 3,954 / 11.86% 8,388 / 11.76%
Income: $125,000 - $150,000 306 / 11.94% 2,814 / 8.44% 5,957 / 8.35%
Income: $150,000 - $200,000 303 / 11.83% 3,604 / 10.81% 8,463 / 11.87%
Income: $200,000+ 244 / 9.52% 3,668 / 11.00% 9,003 / 12.62%
2017 Avg Household Income $106,334 $107,775 $113,458
2017 Med Household Income $88,854 $84,629 $89,424

7731 - 7741 AIRPARK ROAD | 17

 Daytime Employment Report
(1 Mile Radius)

BUSINESS EMPLOYMENT BY TYPE # OF BUSINESSES # EMPLOYEES #EMP/BUS

Total Business 819 8,659 11

Retail & Wholesale Trade 172 1,657 10

Hospitality & Food Service 34 398 12

Real Estate, Renting, Leasing 35 366 10

Finance & Insurance 31 137 4

Information 19 168 9

Scientific & Technology Services 58 336 6

Management of Companies 2 6 3

Health Care & Social Assistance 19 105 6

Educational Services 13 212 16

Public Administration & Sales 1 23 23

Arts, Entertainment, Recreation 15 86 6

Utilities & Waste Management 44 655 15

Construction 166 2,977 18

Manufacturing 66 860 13

Agriculture, Mining, Fishing 0 0 0

Other Services 144 673 5

7731 - 7741 AIRPARK ROAD | 18

 Daytime Employment Report
(3 Mile Radius)

BUSINESS EMPLOYMENT BY TYPE # OF BUSINESSES # EMPLOYEES #EMP/BUS

Total Business 3,433 32,044 9

Retail & Wholesale Trade 582 5,581 10

Hospitality & Food Service 177 2,764 16

Real Estate, Renting, Leasing 190 1,452 8

Finance & Insurance 221 1,230 6

Information 87 698 8

Scientific & Technology Services 406 2,087 5

Management of Companies 2 6 3

Health Care & Social Assistance 418 3,626 9

Educational Services 75 2,221 30

Public Administration & Sales 40 1,072 27

Arts, Entertainment, Recreation 54 667 12

Utilities & Waste Management 195 1,638 8

Construction 439 4,486 10

Manufacturing 111 1,126 10

Agriculture, Mining, Fishing 2 6 3

Other Services 434 3,384 8

7731 - 7741 AIRPARK ROAD | 19

 Daytime Employment Report
(5 Mile Radius)

BUSINESS EMPLOYMENT BY TYPE # OF BUSINESSES # EMPLOYEES #EMP/BUS

Total Business 8,723 111,728 13

Retail & Wholesale Trade 1,182 17,174 15

Hospitality & Food Service 418 9,026 22

Real Estate, Renting, Leasing 509 4,247 8

Finance & Insurance 678 5,478 8

Information 292 8,773 30

Scientific & Technology Services 1,253 14,303 11

Management of Companies 3 9 3

Health Care & Social Assistance 1,677 11,505 7

Educational Services 176 5,016 29

Public Administration & Sales 93 9,132 98

Arts, Entertainment, Recreation 136 1,969 14

Utilities & Waste Management 428 4,207 10

Construction 833 8,175 10

Manufacturing 236 6,154 26

Agriculture, Mining, Fishing 15 39 3

Other Services 794 6,521 8

7731 - 7741 AIRPARK ROAD | 20

CONFIDENTIALITY &
NON-DISCLOSURE
AGREEMENT
SECTION 7:
CONFIDENTIALITY
NON-DISCLOSURE &
AGREEMENT
 CONFIDENTIALITY & NON-DISCLOSURE AGREEMENT

THIS CONFIDENTIALITY AND NON-DISCLOSURE AGREEMENT (the

“Agreement”) made this ___ day of _____________, 2018 by and between HBW
Group, (“Listing Broker”) as Agent for MORE Associates, LLC, (“the Seller”)
(“Listing Broker”) and _____________________________________ the (“Buyer”).

Recitals

a. _________________________ is interested in exploring the sale of 7731 & 7741 Airpark

Road Gaithersburg, MD 20879 (“the Property”).

b. In connection with and in order to explore and evaluate the financial stability and history
involving the property, the Seller will be asked to disclose to ___________________ (“the Buyer”)
certain confidential and/or proprietary information relating to the Property.

NOW. THEREFORE, in consideration of the mutual covenants and promises set forth below
and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties agree as follows:

1. Recitals. The Recitals set forth above are hereby incorporated by reference into this
Agreement.

2. Definition of Confidential Information. For purposes of this Agreement, Confidential

Information shall mean all tangible and intangible information, in written, machine readable,
sample or any other written form supplied by the Seller to the Buyer in connection with the
Transactions that is not generally ascertainable from public or published information or
sources including all extracts, summaries or compilations of any of the foregoing. “Confidential
Information” shall not include information that is (a) is already known to the receiving party
prior to its disclosure by the disclosing party; (b) is in or has entered the public domain through
no breach of this Agreement or other wrongful act of the receiving party; (c) has been rightfully
received from a third party without confidential or proprietary restriction and without breach
of this Agreement; (d) has otherwise been disclosed to or is could be reasonably be known by
the Buyer through other sources independent of the Transactions; or (e) has been approved for
release with the written authorization of the Seller. In connection therewith, the Seller shall use
its best and diligent efforts to clearly designate in writing to the Buyer all information which
it believes to be Confidential Information; provided that such designation shall not in and of
itself be determinative of whether such information is in face Confidential Information under the
foregoing definition.
 3. Non-Disclosure and Non-Use of Confidential Information. The Confidential
Information disclosed by the Seller hereto shall be used solely for the purpose of exploring and
evaluating the possible business transactions involving the Asset.

3.2 The Buyer covenants that it and its shareholders, officers, directors, employees,
agents, representatives, contractors or other persons which it may engage, employ or control,
shall keep the Confidential Information in strict confidence and not directly or indirectly disclose,
publish, disseminate, make available, discuss or otherwise communicate in any way, to any person,
firm, association, partnership, corporation or other entity, any Confidential Information of the
Seller, without Sellers prior written consent, unless otherwise expressly permitted hereunder.
The Buyer shall make the Confidential Information available only to those employees, agents,
representatives, contractors, consultants or other persons, which it may engage, employ or
control who have a reasonable need for such Confidential Information.

3.3 The Buyer shall not make copies of the Confidential Information except as may
be necessary to evaluate the possible business transactions between the parties relating to the
Assets.

3.4 The Buyer shall not reverse engineer, disassemble or decompile any intellectual
property related to the assist.

3.5 Notwithstanding the foregoing, nothing in this Agreement shall prevent disclosure of
Confidential Information required by law (including, without limitation, any disclosures required
by any applicable Federal or state securities or tax laws, rules or regulations) or any court (“Legal
Requirements”), as reasonably determined by the Buyer. However, in the event that the Buyer
reasonably determines that it is required to disclose any Confidential Information in accordance
with the following, it shall provide Buyer with as prompt advance written notice as is reasonably
possible and shall make all reasonable efforts to confer with the Seller concerning the nature of
such Legal Requirements and the information which must be disclosed in connection therewith.

3.6 Return of Confidential Information. All Confidential Information provided and/or

disclosed by the Seller or which shall at any time come into the possession of the Buyer shall be
the sole and exclusive property of Seller. At the termination of discussions or negotiations between
the parties without the successful consummation of the business transactions contemplated
hereby, all Confidential Information upon the request of the delivering party to the other party
shall promptly be returned to such delivering party without alteration, together with all copies
thereof.

4. Non-Disclosure of Discussions. Each of the Buyer and Seller covenants to the

other that, without the prior written consent of such other party, it will not directly or indirectly
disclose, publish disseminate, discuss or otherwise communicate in any way, to any person, firm,
association, partnership, corporation or other entity, either the fact that discussions or negotiations
are taking place concerning a possible business transaction between the parties, or any of the
terms, conditions or other facts with respect to any such possible transaction, including the status
thereof and the fact that Confidential Information has been made available. The foregoing shall
not restrict disclosures (i) to those employees, agents, representatives, contractors, consultants
or other persons which a party hereto may engage, employ or control who have a reasonable need
for such information or (ii) which are required by Legal Requirements.

5. No License. Nothing in this Agreement shall be construed, by implication or

otherwise, to grant any right or license to the Buyer under patent, invention, copyright, or any
other intellectual property right, now or hereafter owned or controlled by the Seller.

6. Remedies. The parties hereto recognize and acknowledge that the Confidential
Information is of a unique, special and extraordinary character that would be difficult or impossible
to replace, and that a breach of any provision of this Agreement would cause the other party to
suffer substantial and irreparable damage. Consequently, in addition to any and all remedies
available at law, in the event of an actual or threatened breach or violation of any provision of
this Agreement, any party hereto shall be entitled to an injunction to be issued by any court of
competent jurisdiction restraining the other party hereto from committing any further breach
or violation of this Agreement, and each party hereto hereby consents to the issuance of such
an injunction without need of a bond or a showing of actual damages. In addition, each party
hereto shall be entitled to recover all attorneys’ fees and court costs incurred by it in enforcing
its rights hereunder. Such remedies shall, however, be cumulative and not exclusive, and shall be
in addition to and not in limitation of any other remedy or remedies which the parties may have
under this Agreement, at law, in equity, or otherwise. Such rights and remedies shall survive the
termination of this Agreement and shall be enforceable by each party hereto and its successors
and assigns.

7. Miscellaneous. This Agreement sets forth the entire understanding and agreement
of the parties with the respect to its subject matter and may not be modified or altered except by
the written agreement of all parties hereto.

7.1 The terms and provisions of this Agreement shall be binding upon and inure
to the benefit of the parties hereto and their successors and assigns, except that this Agreement
may not be assigned by either party without the prior written consent of the other party.

7.2 This Agreement shall be governed by and construed in accordance with the
laws of the State of Maryland.
 7.3 If any clause or provision contained in this Agreement operates or would
operate to invalidate this Agreement, in whole or in part, then such clause or provision only shall
be held ineffective, as though not herein contained, and the remainder of this Agreement shall
remain operative and in full force and effect.

7.4 The parties hereto shall do all such further actions and execute all such further
documents as are necessary and proper to effectuate the intent and purpose of this Agreement.

IN WITNESS WHEREOF, the parties hereunto have executed this Agreement as of the
day and year first written above.

ATTEST:

By:

Name:

Title:

ATTEST:

By:

Name:

Title:
7731 - 7741 AIRPARK ROAD
GAITHERSBURG, MD 20879

1055 First Street, Suite 200

Rockville, MD 20850
301-424-2900