"South Baltimore"

REAL ESTATE AUCTION

HIGH EXPOSURE – INCOME PRODUCING
INDUSTRIAL DEVELOPMENT SITE
1.56± Acres ◆ Zoned I-2 ◆ Billboard

Sale On Premises
WATERVIEW AVENUE
Baltimore City Tax ID: 057612C006L
At Urban Lane, Facing I-295
Baltimore City, MD 21230

WEDNESDAY, OCTOBER 10, 2018
AT 11:00 A.M.

– SUGGESTED OPENING BID: $75,000 –

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 well located parcel, known as Baltimore City Block 7612C, Lot 006L, is located in South Baltimore at the edge of the Westport and Cherry Hill neighborhoods. The site has excellent visibility from the Baltimore Washington Parkway (I-295). According to the State Highway Administration GIS Traffic Count Map, approximately 80,512 cars per day (annual average daily traffic) pass along the portion of I-295 immediately west of the property. Clear Channel Outdoor leases a billboard on the property utilizing the significant exposure.

The property has convenient access throughout the area, with multiple ramps for the Baltimore Washington Parkway within one-half mile, access to I-95 within one mile, and I-895, I-695 and I-395 all also in close proximity. Major access roads near the site, in addition to Waterview Avenue, include Hollins Ferry Road, W. Patapsco Avenue and Hanover and Potee Streets. Nearby properties include the Bergers Cookies Bakery, distribution facilities, equipment storage facilities, automotive businesses, manufacturing companies and the Middle Branch Marina. The Cherry Hill Light Rail Station is approximately one-quarter mile to the south.

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

For more information, please see:
https://livebaltimore.com/neighborhoods/

SITE:
Baltimore City Tax ID: 057612C006L (Baltimore City Block 7612C, Lot 006L) – comprises 1.72 acres, more or less, according to public tax records. Actual acreage is believed to be 1.56 acres, more or less. No adjustment will be made to price for acreage smaller or larger than stated herein.

The lot fronts approximately 84’9″ along Waterview Avenue, and 387’9″ along Urban Lane.

The lot is mostly wooded, with a mild slope from west/northwest to east/southeast. The portion of the property between the billboard and the Baltimore Washington Parkway facing south/southwest is clear, allowing for billboard visibility.

LEASE:
Billboard currently leased to Clear Channel Outdoor for $1,150/month, on a month- to-month lease. Gross scheduled annual rent is $13,800.

ZONING:
Zoned: I-2, General Industrial Zoning. According to the TransForm Baltimore Zoning District Summary, I-2 districts are intended for “Manufacturing, fabricating, processing, wholesale distributing and warehousing. Commercial uses and open storage allowed.”

For more information, see the Baltimore City Zoning Code.

ADDITIONAL INFORMATION IS AVAILABLE:
Please complete the Waiver and Confidentiality Agreement form to receive the following by email:

• Clear Channel Outdoor Lease

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

TAXES:
Current annual real estate taxes are $1,826.64 based on a full value assessment of $77,400.

TERMS OF SALE:
A $7,500 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. 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 settlement 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. A 4% Buyers Premium will be added to the final bid price.