Buy It Now: $35,000 - "New Southwest - Mount Clare"

Buy It Now: $35,000

THREE STORY
STOREFRONT BUILDING

237 S. GILMOR STREET
Corner McHenry Street
Baltimore City, MD 21223

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:
237 S. Gilmor Street is located in the New Southwest – Mount Clare neighborhood in southwest Baltimore City. Many well known City attractions are within close proximity, including the B & O Railroad Museum, H. L. Mencken House and Carroll Park. Downtown Baltimore and the University of Maryland Baltimore Campus and BioPark are within about one mile. The Mt. Clare junction shopping center is within a short distance west. Surrounding properties are comprised predominantly of two and three story brick townhomes and storefronts.

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

SITE:
Lot – 14’3″ x 70′, more or less

Zoning – R-8, residential, approved non-conforming use as a grocery store

All public utilities

IMPROVEMENTS:
Three story end-of-group brick storefront building – according to public tax records, the building was constructed in 1920. Estimated to contain 1,800 square feet. The building is arranged as follows:

First Floor:

• Convenience store – Tile floors, Safety glass
• Back room – Tile floor, Utility sinks, Central AC unit
• Storage room – Tile floor

Second Floor:

• Living room – Laminate floor
• Bedroom 1 – Laminate floor
• Bedroom 2 – Laminate floor

Third Floor:

• Bedroom 3 – Subfloor
• Bedroom 4 – Subfloor
• Full Bathroom – Roughed in

Basement: Unfinished

TITLE:
Subject to a $44 annual ground rent (unregistered); sold free and clear of liens.

TAXES:
Published annual real estate taxes are $896.80, based on a full value assessment of $38,000. Purchasers may petition for a reduction in the assessment of their property in conjunction with a purchase price substantially less than the currently assessed value of the property. Purchasers are encouraged to contact the Maryland State Department of Assessments & Taxation concerning the appeals process, and may see the following link for helpful information:
http://dat.maryland.gov/realproperty/Pages/Assessment-Appeal-Process.aspx

SUMMARY TERMS OF SALE – PLEASE REFER TO THE CONTRACT FOR THE COMPLETE TERMS OF SALE:
A 10% deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. 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 agrees to waive the right of inspection for lead paint, as provided under current Federal and State law. 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. A 5% buyer’s premium will be added to the final bid price.