Connecticut Ave

Beach Dr

F O R S A L E

9 4 1 1 C O N N E C T I C U T A V E N U E K E N S I N G T O N , M D 2 0 8 9 5

Marc Balamaci Partner & Director, Tenant Advisory Services

D: 703.334.5603 M: 301.529.2848 mbalamaci@edgecre.com

Joshua Katz Vice President, Tenant Advisory Services

D: 703.334.5608 M: 703.725.3621 jkatz@edgecre.com3 5 , 1 9 6 S F O N 1 0 . 9 4 A C R E S

Edge Commercial | 1 | 9411 Connecticut Ave

O F F E R I N G S U M M A R YEdge is pleased to offer for sale 9411 Connecticut Avenue, Kensington, Maryland (the “Property”), on behalf of Grace Episcopal Church.

The Property is comprised of a 35,196 square foot single-story operational school building on 10.94 gross acres of land, situated just above Rock Creek, dividing the towns of Kensington and Chevy Chase, Maryland, and less than two miles from the heart of Bethesda, Maryland.

There is over 1,200 feet of frontage on Connecticut Avenue (MD 185), offering excellent visibility and direct north-bound access; a turn-around to south-bound Connecticut Avenue is 0.1 miles north of the Property entrance.

The Property is located approximately 0.3 miles from Exit 33 – Connecticut Avenue (MD 185) on the Capital Beltway (I-495).

The Kensington MARC transit station, on the Brunswick line, running from Martinsburg, West Virginia to Union Station in Washington, DC, is located ±1.2 miles NNE of the Property on Howard Avenue.

The Chevy Chase Lake station on the Purple Line light rail will be located ±1.1 miles to the south of the Property, just one stop away from the western terminus of the Purple Line at the Bethesda Metro station; the eastern terminus is the New Carrollton Metro station in Landover, Maryland. Station information can be found by clicking HERE.

There is a Montgomery County Ride On transit bus station on the L8 line located immediately in front of the Property, a few feet south of the entrance.

The central location of the Property, almost due north of the District of Columbia, and near the mid-point of the northern half of the Capital Beltway, makes accessing local and regional landmarks, centers of commerce, education, and recreation simple, either by car or by transit.

Destination Distance

National Cancer Institute 1.8 miles

Walter Reed Military Medical Center 1.9 miles

Bethesda, MD 2.7 miles

National Institutes of Health 2.9 miles

Silver Spring, MD 4.4 miles

University of Maryland 9.3 miles

Capital One Arena/ Downtown D.C. 9.7 miles

U.S. Capitol/Union Station 11.8 miles

Tysons Corner, VA 14.0 miles

Pentagon 20.1 miles

DCA/Reagan National Airport 21.5 miles

Nationals Park/Navy Yard 23.5 miles

IAD/Dulles International Airport 25.4 miles

BWI/Thurgood Marshall International Airport 32.6 miles

Baltimore, MD 36.3 miles

Frederick, MD 36.5 miles

495495

270

Rockville P

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Old G

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Con

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LYTTONSVILLE STATION

Edge Commercial | 2 | 9411 Connecticut Ave

L O CAT I O N OV E R V I E W

9411 Connecticut Ave

Medical Center Metro Station

Grosvenor Metro Station

Bethesda Metro Station

Chevy ChaseChevy Chase

KensingtonKensington

BethesdaBethesda

Alta VistaAlta Vista

Kensington

MARC - BRUNSWICK LINE

PROPOSED PURPLE LINE

1 MI. RADIUS2 MI. RADIUS

495

495

270

Old G

eorgetown R

d

Rockville P

ike

Connecticut A

ve

355

Con

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Ave

Old Georgetown Rd

National Institutes of Health

Walter Reed National Military Medical Center

Suburban Hospital

MA

RC - BRUNSW

ICK LINE

PROPOSED PURPLE LINE

Edge Commercial | 3 | 9411 Connecticut Ave

3

45

6

12

11109

13 14 15

87

L O CAT I O N OV E R V I E W

9411 Connecticut Ave

1. Giant Food

2. Balducci’s Food Lovers Market

3. Grosvenor Market

4. Safeway

5. Harris Teeter

6. CVS

7. 7-Eleven

8. Giant Food

G R O C E R Y / C O N V E N I E N C E S TO R E S

1. Bethesda Marriott

2. Navy Lodge

3. Global Luxury Suites

4. American Inn

5. The Bethesdan Hotel

6. Residence Inn by Marriott

7. Hilton Garden Inn

H OT E L S

1. Starbucks

2. Java Nation

3. Dunkin’

4. Starbucks

5. Peet’s Coffee

6. la Madeleine French Bakery & Cafe

7. Panera Bread

C A F É

1. Not Your Average Joe’s

2. Wildwood Kitchen

3. Red Ginger

4. Chipotle Mexican Grill

5. Talia’s Cuzina

6. Pacci’s Trattoria

7. Tommy Joe’s

8. Rock Bottom Restaurant & Brewery

9. Aden Pizza

10. Black’s Bar & Kitchen

11. Bethesda Blues and Jazz Supper Club

12. Q By Peter Chang

13. Mussel Bar & Grille

14. Mon Ami Gabi

15. La Ferme Restaurant

R E S TA U R A N T S

1. Anytime Fitness

2. MWR Fitness Center

3. F45 Training

4. Next Phase Fitness & Strength Training

5. Equinox

F I T N E S S

1

1

3

56

7

2

4

2

3

45

6 7

7

8

43

21 1

1

2

3

4

5

6

5

2

Edge Commercial | 4 | 9411 Connecticut Ave

L O CAT I O N OV E R V I E W

Following are tables highlighting key demographic within one-, three-, and five-mile radii of the Property.

Like most other suburbs of Washington, D.C., the Kensington, Bethesda/Chevy Chase, and Silver Spring areas are home to a highly-educated, highly compensated workforce, the majority of which is in its prime earning years.

1 mile 3 miles 5 miles

POPULATION 8,894 179,794 486,166

2010-2020 growth 4.60% 11.80% 11.10%

BY AGE

<4 4.70% 6.40% 6.30%

5-14 13.20% 12.70% 12.30%

15-19 7.50% 5.50% 5.60%

20-29 11.50% 10.90% 11.10%

30-39 7.90% 14.70% 15.00%

40-49 11.00% 14.10% 13.60%

50-59 15.30% 13.40% 13.10%

60-69 13.90% 11.40% 11.10%

70-79 8.60% 6.80% 6.70%

80+ 6.40% 4.20% 4.30%

Mean/Med age, Male 40.9/43.2 38.4/38.7 38.1/37.9

Mean/Med age, Female 43.5/46.9 40.7/41.1 40.5/40.4

BY OCCUPATION

Civilian employed 64.4 69.8 68.9

Civilian unemployed 0.9 1.9 2.3

Civilian non-labor force 33.7 27.4 28.4

Armed Forces 1.1 0.9 0.5

HOUSEHOLDS (HH) 3,107 74,167 192,636

2010-2020 growth 3.60% 12.40% 11.70%

BY EDUCATION

High School graduate 5.40% 8.50% 11.10%

Some college 10.80% 13.50% 14.40%

Associate degree 4.70% 5.80% 6.40%

Bachelor degree 30.90% 26.60% 24.1

Advanced degree 46.40% 39.70% 35.50%

1 mile 3 miles 5 miles

BY OCCUPATION

Professional & management 47.20% 42.90% 39.40%

Education & health 11.90% 10.00% 10.00%

Transportation 7.40% 11.13% 11.70%

Sales 7.10% 7.30% 7.40%

Public administration 6.90% 6.60% 6.30%

BY MARITAL STATUS

Married 2,085 34,005 87,095

Married w/ children 1,014 15,726 39,968

Owner occupied 85.00% 59.60% 58.70%

BY ANNUAL INCOME

<$100,000 20.20% 41.30% 45.10%

$100-149,999 16.60% 19.60% 19.20%

$150-199,999 14.70% 11.90% 11.10%

$200,000+ 48.50% 27.30% 24.70%

Mean HH income $208,125 $151,663 $142,909

Median HH income $195,010 $120,101 $111,520

HOUSING UNITS

SFH 90.80% 56.80% 55.00%

20+ units 6.00% 31.70% 32.10%

HOUSING VALUE

<$500,000 3.30% 35.70% 40.70%

$501,000-999,999 67.90% 42.80% 39.40%

$1,000,000+ 28.80% 21.60% 19.80%

Median value $843,871 $667,817 $617,381

D E M O G R A P H I C S T U DY 2020 PROJECTED

Edge Commercial | 5 | 9411 Connecticut Ave

L O CAT I O N OV E R V I E W

C O N S U M E R S P E N D I N G 2020 PROJECTED

1 mile 3 miles 5 miles

Total apparel $7,353,000 $140,795,000 $360,817,000

Total entertainment & hobbies $9,484,000 $183,631,000 $458,007,000

Total food & alcohol $32,021,000 $629,486,000 $1,593,536,000

Total household $24,670,000 $423,769,000 $1,046,498,000

Total transportation $31,512,000 $565,916,000 $1,416,039,000

Total health care $7,235,000 $125,446,000 $313,109,000

Total education/day care $13,068,000 $216,562,000 $538,438,000

Total specified spending $136,707,000 $2,488,614,000 $6,223,475,000

Following is a table highlighting consumer spending data within one-, three-, and five-mile radii of the Property.

Edge Commercial | 6 | 9411 Connecticut Ave

P R O P E R T Y OV E R V I E W

Account #: 13-03645238 Land area: 476,633 SF; 10.94 acres Structure Area: 35,196 SF

A topographical map of the Property can be viewed by clicking HERE.

A boundary survey of the Property can be viewed by clicking HERE.

An Existing Conditions plan of the Building can be viewed by clicking HERE.

A site plan of the Property can be viewed by clicking HERE.

Click HERE for access to a photo gallery of the Property.

Zoning: R-90; 9,000 SF minimum lot size

Primary permitted use: Residential single-family dwelling unit

Other permitted uses: residential care, up to eight people; cultural institution; family day care, up to eight people; religious assembly;

Notable conditional (C) or limited (L) uses: two-unit living (L); townhouse (L/C); independent living (C); residential care, over nine people (C); charitable/philanthropic organization (C); group day care, nine to 12 people (C); day care center, 13-30 people (C); day care center, over 30 people (C); educational institution private (C); hospital (C); private club (C); veterinary office (C); funeral home (C); medical clinic, up to four practitioners (L/C); medical clinic, more than four practitioners (L); office (C)

Please click HERE to be directed to the full Use Table (Article 59-3, Section 3.1.6 of the Montgomery County Zoning Ordinance)

Grace Episcopal Day School 9411 Connecticut Avenue Kensington, MD 20895

Edge Commercial | 7 | 9411 Connecticut Ave

P R O P E R T Y OV E R V I E W

The Deed for the Property, made April 12, 1999, contains the following conditions regarding the use and development of the Property:

A. There is an existing Conservation Easement on the 2.81 acre of the property, as shown in yellow in the map on the right:

B. Community Use of Playing Fields. Portions of the Property have historically been used as playing fields through the Montgomery County Office of Community Use of Public Facilities. The Grantee agrees to continue the use of portions of the Property for similar uses, when scheduling permits and requests are made through the Office of Community Use of Public Facilities.

C. Limitation of Land Use. The Property is subject to a condition that the Property be used for education purposes. Should the Grantee, or its successors, choose to discontinue the use of the Property for education purposes, then the Property must be offered for sale back to the Grantor at fair market value. The County Executive may accept the offer subject to approval of appropriation by the County Council. If the Council declines the appropriate, then the Property, from that day forward, may be used for any legal purpose, without restriction or other limitation created by the Deed.

To review the full Deed, please click HERE.

The Property is located in Montgomery County Planning Department Area (Area 2), which includes areas of lower Montgomery County located outside the Capital Beltway, including Kensington, North Bethesda, Rockville, North Rockville, Gaithersburg, Wheaton, White Oak, and Glenmont, among others. Click HERE to be directed to the Mid-County/Area 2 Communities section of the Montgomery Planning website.

The 2012 Kensington Sector Plan, which creates a long-term planning framework for Kensington, can be found HERE.

The 1989 Kensington/Wheaton Master Plan can be found HERE.

Edge Commercial | 8 | 9411 Connecticut Ave

S A L E C O N D I T I O N S

Seller’s preference is that the Property be sold to a purchaser wishing to use the Property for an education use; Seller will consider offers from purchasers wishing to use the Property for other uses, pursuant to applicable codes and regulations.

Time is of the essence as it pertains to the sale of the Property.

Purchaser may acquire the entire Property or approximately 5.5 acres (inclusive of the conservation easement) to the south of the building; for a conceptual subdivision plan, click HERE.

Offers will be accepted through October 2020 and seller will evaluate offers and select a purchaser by the end of November 2020.

Purchaser shall be directly responsible for compensating its licensed real estate broker.

DISCLAIMER This offering has been prepared using third-party information gathered from sources deemed reliable by Edge and Seller. Neither Edge nor Seller makes any warranties or representations as to the accuracy of any information contained herein.

Maryland (HQ)

2273 Research Blvd | Suite 150 Rockville, MD 20850

301.222.0200

Virginia

7900 Westpark Dr | Suite A340 McLean, VA 22102

703.334.5600

Pennsylvania

201 Penn Center Blvd | Suite 400 Pittsburgh, PA 15235

412.894.1818

Washington, D.C.

1828 L St, NW | Suite 260 Washington, DC 20036

202.587.9600

MAKE AN IMPACT.

www.edgecre.com