"Anchor Loan Company"

ESTATE SALE

COMMERCIAL BUILDING
Zoned C-1 ✦ 2,426 Sq. Ft.

Known As:
“ANCHOR LOAN COMPANY”

Known As
3419 BELAIR ROAD
Near Lake Avenue
“Belair-Edison,” Baltimore City, MD 21213

NOTE: The information contained herein has been obtained from sources deemed reliable and is believed to be substantially 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:
The Anchor Loan Company building is located in the Belair – Edison neighborhood in northeast Baltimore City. Belair Road operates as the primary commercial corridor in the area. In addition to the customers living and working nearby, Belair Road also provides commuter traffic for those traveling between Downtown Baltimore out to Overlea and the Baltimore Beltway (I-695). The average daily traffic for the Belair Road corridor in front of the property is 21,863 cars per day, providing a healthy level of exposure at the site.

The property is along the Belair – Edison “Main Street,” which provides opportunities for grants and other incentives for facade improvements, marketing, event promotion and general assistance. The Belair Erdman Urban Renewal Plan, Belair Road TAP report and Belair Road Comprehensive Real Estate and Economic Development Assessment reports each provide further information and analysis with respect to nearby development.

The Anchor Loan Company has been a well-known business in the area for approximately 30 years. The auction presents an opportunity to buy a building with a successful business track record in a visible location, and with an ample variety of potential uses.

For more information about the area, please visit:
Belair – Edison – livebaltimore.com
Belair – Edison – www.belairedison.city
Belair – Edison – livebaltimore.com
GIS Traffic Count Data – www.roads.maryland.gov
CityView – cityview.baltimorecity.gov

SITE:
Lot size: 0.071 acre, according to public tax records

20′ frontage on Belair Road

Rear alley access from Lake Avenue

All public utilities

ZONING:
The property is zoned C-1: Commercial. According to the Baltimore City Transform Zoning District Summary, C-1 zoning applies to “Commercial clusters or pedestrian-oriented corridors of commercial uses that serve the immediate neighborhood. Ensures compatibility between neighboring residential and commercial uses.”

For more information, see Baltimore City Zoning

IMPROVEMENTS:
One story inside-group commercial building – containing 2,426 square feet above grade plus full basement. The property is arranged as a retail storefront, having been operated as the Anchor Loan Company Pawnshop for the last several years. Finishes include carpet, paneling and drop ceiling. Features include electric security lock, security enclosures and split HVAC system. The interior is currently configured for a showroom, office area, powder room and unfinished storage basement.

The pawnbrokers license is currently expired. The second hand precious metal objects license is active. For those buyers considering use of the property as a pawnshop, please visit the Maryland Department of Labor website for more information.

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

TAXES:
Published current annual real estate taxes are $2,489.80 based on a full value assessment of $105,500.

TERMS OF SALE:
A ten percent (10%) deposit, in cash or cashier’s check to be delivered to the Auctioneer’s office at 6500 Falls Road, Baltimore, MD 21209, or sent by wire transfer. 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. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of contract to date of settlement. All adjustments, including taxes, 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 contract and assumed thereafter by the Purchaser. The property will be sold in “AS IS” condition, and subject to easements, agreements, restrictions or covenants of record affecting same, 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. No buyer’s premium.

Sale by Order of The Estate of Christopher Donahoo