"Highlandtown"

PUBLIC AUCTION

CORNER
COMMERCIAL BUILDING
7,830± Sq. Ft. GBA – Zoned C-1
– High Traffic Count –

Sale On Premises
3735-3737 EASTERN AVENUE
Formerly Operated as “Papa John’s Pizza”
Corner S. Eaton Street
Baltimore City, MD 21224

THURSDAY, NOVEMBER 29, 2018
AT 11:00 A.M.

– Suggested Opening Bid: $175,000 –

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:
3735-3737 Eastern Avenue is located at the northern edge of Brewer’s Hill, in an area more commonly referred to as Highlandtown. The property is within the Highlandtown Arts & Entertainment District. The area has been well known for decades as a center of community life in Southeast Baltimore City, and has been experiencing a renaissance over the last few years. New entertainment spaces, galleries, restaurants and apartment buildings are being built throughout the surrounding area, complimenting many of the long- standing businesses and institutions that have traditionally characterized Highlandtown. Proximity to major employers and highways make the location attractive for businesses catering to those working nearby, in addition to the ample density of local residents. Tax incentives are available to qualifying businesses within the Highlandtown Arts & Entertainment District.

The property has exposure along both Eastern Avenue and S. Eaton Street. According to State Highway Administration GIS Traffic Count Map, the annual average daily traffic along Eastern Avenue in front of the property is 21,120 vehicles. The signalized intersection of Eastern Avenue and S. Eaton Street provides added exposure along both streets.

For more information about the area, please visit:
https://livebaltimore.com/neighborhoods/brewers-hill/
https://livebaltimore.com/neighborhoods/highlandtown/
http://www.ihearthighlandtown.com/
&
http://www.highlandtownarts.com/

For more information about traffic statistics nearby, please visit:
http://www.roads.maryland.gov/index.aspx?PageId=838

SITE:
Lot size – 30′ x 87′, more or less

All public utilities

ZONING:
C-1 – Formerly operated as a pizza carry-out

According to TransForm Baltimore Zoning District Summary, C-1 zoning comprises: “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 about Baltimore City zoning, please visit:
http://www.baltimorehousing.org/zoning
&
https://planning.baltimorecity.gov/programs/transform-baltimore

IMPROVEMENTS:
Two story semi-detached storefront building – the building was constructed in 1920, contains 5,220 square feet above grade plus basement, according to public tax records. Basement square footage is estimated to be 2,610, and is mostly finished. The building features a new roof (2018), commercial facade, decorative roof fascia, two exterior entrances, forced air heat, CAC and potential for use as multiple commercial or mixed-use units. The property was formerly tenant occupied by Papa John’s Pizza, and still retains many of the fixtures and equipment used in the operation.

Exterior
Brick, concrete and glass facade
New thermoplastic polyolefin (TPO) roof in 2018
Aluminum roof fascia
Commercial windows
Front and side entrances

Interior
The first floor is arranged as a pizza carry-out. Finishes include ceramic tile floor, drop ceiling and drywall. The space is arranged for a retail sales point and kitchen in the front, office and storage rooms towards the rear, walk-in cooler and powder room. There is a commercial pizza oven, commercial exhaust system and additional equipment currently in the property.

The second floor is unfinished shell space, suitable for conversion to an apartment, office, gallery space or any number of commercial uses.

The property was recently professionally restored due to a roof leak. The property is in good overall repair, but will require cosmetic repair or renovation based on prospective use.

More information and photos coming soon!

ANNUAL REAL ESTATE TAXES:
Published annual real estate taxes are $6,975.39, based on a full value tax assessment of $295,567.

TITLE:
The property is in fee simple; and is being sold free and clear of all liens.

SUMMARY TERMS OF SALE – PLEASE REFER TO THE CONTRACT FOR THE COMPLETE TERMS OF SALE:
A $15,000 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. 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. 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!