"Northwest Baltimore - Reisterstown Station"

Live Auction Bidders – a $100,000 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 $100,000 deposit, payable by cashier’s check or wire, will be required of all online bidders prior to the start of the live auction. 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

No Buyer’s Premium! For complete Terms Of Sale, see the Summary Terms Of Sale at the bottom of this page or see the Sample Contract.

This Auction has been CANCELED.

Featuring Live & Simulcast Online Bidding
$1,000,000 Opening Bid

NORTHWEST BALTIMORE
– Reisterstown Station –

INDUSTRIAL PROPERTY:
WAREHOUSE & COLD STORAGE
17,528 Sq. Ft. GBA ✦ 1.38± Acres ✦ Zoned I-1

Seller Financing Available!

Sale on Premises
4111 MENLO DRIVE
Off Reisterstown Road
Baltimore City, Maryland 21215

CANCELED

Online Bidding Opens
FRIDAY, OCTOBER 20, 2023

Live On-Site Auction
WEDNESDAY, OCTOBER 25, 2023
AT 11:00 A.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:
4111 Menlo Drive is located in Northwest Baltimore City within the “Reisterstown Station” commercial district and neighborhood. Reisterstown Station is located at the western boundary of the City, with Seton Business Park to the south, Woodmere and Glen to the east, Fallstaff to the north, and Baltimore County immediately west. The location affords excellent access to both City, County and regional locations. Positioned a few hundred yards from Reisterstown Road, and in close proximity to Northern Parkway, access to the Baltimore Beltway (I-695), the Jones Falls Expressway (I-83) and local commuter routes is good. The intersection of Menlo Drive and Reisterstown Road is signalized, providing good ingress and egress to the site for both car and truck traffic. The location also provides good potential exposure, with an annual average daily traffic count of 20,941 vehicles at the intersection, according to MDOT statistics. Surrounding businesses are mostly industrial, specifically automotive and trade businesses, with retail, government, institutional and hospitality also in the area. Ample dining and neighborhood retail is along Reisterstown Road.

The auction provides an excellent opportunity to buy a well-located industrial property with good acreage and substantial cold storage. With more than 8,000 total square feet of refrigerator and freezer space, the building provides a turn-key or value add opportunity for a wide array of food service, restaurant supply and other users with refrigeration needs. Fenced parking and loading docks provide additional value. The site may also be suitable for redevelopment.

For more information about the area, please visit:
Live Baltimore – livebaltimore.com
CityView Map – cityview.baltimorecity.gov
Community Development Map – cels.baltimorehousing.org
City Of Baltimore – www.baltimorecity.gov

SITE:
Lot size: 1.38 acres, according to public tax records, and 1.274 acres, according to deed records. Plat

According to a 2017 location drawing of the site, the lot fronts approximately 165′ on Menlo Drive with depths of roughly 360′. Public water and sewer service are on-site.

The lot is mostly fenced with asphalt and gravel paving. Unfenced parking area at the front of the building along Menlo Drive.

ZONING:
I-1 – Light Industrial

According to Baltimore City’s Zoning District Summary, the I-1 zone comprises “Light Industrial Zoning. Light manufacturing, fabricating, processing, wholesale distributing and warehousing uses.”

For more information about zoning, please visit:
Department of Planning – planning.baltimorecity.gov

IMPROVEMENTS:
Freestanding single-story masonry warehouse, cold storage and distribution building – constructed in 1952 and containing 17,528 square feet of gross building area.

Features include a new TPO roof (2017/2018), updated and replaced refrigeration systems, front facing loading dock with roll-up door, covered side loading dock with two roll-up doors (one additional sliding door), defined processing room and office areas. Freezer space comprises approximately 5,000 square feet, and another 3,000 of cooler/refrigerated space. Full building layout available via attached drawing. Ceiling heights are approximately 12’6″. Clear span area is approximately 19′.

The building has previously been USDA approved as a processing facility (current status unknown).

The property is currently occupied by two tenants on informal leases. One tenant is using a portion of the dry storage space, and paying $1,500/month. The other tenant, the former owner of the building, occupies approximately 25% of the building (including office) and is paying $5,000/month plus NNN expenses. Total annual income is $78,000.

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

TAXES:
Published annual real estate taxes are $17,281.50 based on a full value tax assessment of $732,267.

FINANCING:
Seller financing available after 24 hour financial information review. Basic terms are as follows:

• 70% Loan to Value Ratio
• 9% Annual Interest
• 20 Year Ammortization
• 3 Year Balloon

If you are interested in seller provided financing, please email charles@ajbillig.com for additional details and financial information request.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
Live Auction Bidders – a $100,000 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 $100,000 deposit, payable by cashier’s check or wire, will be required of all online bidders prior to the start of the live auction. 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. All adjustments, including taxes, rent, ground rent 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 settlement and assumed thereafter by the Purchaser. Security deposits, if any, shall be adjusted at the time of settlement. The property will be sold in “AS IS” condition, and subject to the existing leases of the tenants in place, easements, agreements, restrictions or covenants of record affecting same, if any. The Property will be sold subject to Baltimore City violation notices, if any. 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. 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!