"Rosedale"

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 4:00 P.M. on the day of auction.
Deposit Escrow Agreement

A 5% buyer’s premium will be added to the final bid price. For complete Terms Of Sale, see the Summary Terms Of Sale at the bottom of this page and see the Sample Contract.

Baltimore County, MD

Live Onsite & Online Simulcast Bidding
$750,000 Opening Bid

NNN INCOME OPPORTUNITY

CVS PHARMACY
9519 Philadelphia Road
Rosedale, MD 21237

$88,578 Net Annual Income

Online Bidding Opens
MONDAY, JANUARY 29, 2024

Live Onsite Auction
THURSDAY, FEBRUARY 1, 2024
AT 1:15 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.

GENERAL INFORMATION:
Triple net ground lease to SK Properties, LTD, dated November 3, 1996, assigned to Philadelphia Road CVS, Inc., then to Middle River CVS, Inc. and subsequently to Maryland CVS Pharmacy, LLC via merger in 2010. The current lease is in the second five-year extension period, running through November 2027, at an annual rent of $88,578 (NNN). There are 4 five-year renewal options at substantially increased rentals remaining. Tenant pays for all maintenance, taxes and insurance.

LOCATION:
The property is situated at the southeast corner of Philadelphia Road (MD-7) and Middle River Road in the Rosedale area of eastern Baltimore County. Daily traffic counts (AADT) are 18,711 along Philadelphia Road and 16,134 along Middle River Road, according to MDOT online mapping. The immediate area is mixed commercial and residential use. The property sits opposite the Kings Court Shopping Center, a retail center anchored by Tractor Supply. A 7-11 and King’s Court Townhomes are along the other two corners of the intersection. The intersection of the Baltimore Beltway (I-695) and I-95 is approximately 2 miles south.

IMPROVEMENTS:
Freestanding one story masonry retail building, constructed in 1998, comprises approximately 10,107 square feet of gross building area, according to public tax records. The building has a drive-thru window, pole sign and approximately 33-car asphalt paved parking lot.

SITE:
1± Acre

See due diligence documents for stormwater easement information.

Zoning BL – Business Local – Provides for a wide range of commercial uses, such as retail sales, personal services, restaurant, bank, office, tavern, food store, medical clinic. An array of additional uses are available by special exception. See the Baltimore County Zoning Code for more information.

All public utilities

Drawing from Stormwater Management Easement

Zoning Map

TITLE:
The property is in fee simple and sold free and clear of liens. Baltimore County Deed Book SM 14743, page 177.

TAXES:
Published annual real estate taxes are $22,548.24, based on a full value assessment of $1,837,700, and are paid by the tenant.

ADDITIONAL INFORMATION:
Please complete the Waiver and Confidentiality agreement to receive: the ground lease and assignment.

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 4:00 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, 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 deposit, if any, shall be adjusted at the time of settlement. The property will be sold in “AS IS” condition, and subject to the existing lease of the tenant in place, easements, agreements, restrictions or covenants of record affecting same, if any. The Property will be sold subject to Baltimore County 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. Time is of the essence. A 5% buyer’s premium will be added to the final bid price.