"Remington"

REAL ESTATE AUCTION

CORNER
MIXED-USE BUILDING
Zoned C-1 ◆ 2,360 Sq. Ft.

Sale On Premises
2743 – 2745 MILES AVENUE
– Corner W. 28th Street –
Baltimore City, MD 21211

TUESDAY, FEBRUARY 27, 2018
AT 2:00 P.M.

Suggested Opening Bid: $75,000

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:
2743 Miles Avenue is located in the Remington neighborhood in central Baltimore City. Remington is situated in the middle of the City, bounded by I-83, Hampden, Wyman Park, Johns Hopkins University, Old Goucher College and Charles North. The well located neighborhood has been undergoing significant change in recent years, with projects including the recently completed Remington Row mixed-use development, R. House and Miller’s Court. Long-standing businesses are being coupled with new businesses relocating within the community. Proximity to major employers, entertainment, arts and dining venues has made the neighborhood attractive to both long-time residents and those new to the neighborhood.

The property is situated at the corner of Miles Avenue and W. 28th Street, with excellent exposure from eastbound traffic on W. 28th Street. According to State Highway Administration GIS Traffic Count Map, approximately 13,512 cars per weekday travel along this segment of 28th Street. The building may be suitable for single user occupancy, multiple tenancy or residential conversion.

SITE:
Lot – 26’6″ x 50′, more or less

Baltimore City Block 3644, Lot 70

All public utilities

Zoning: C-1 Commercial. For more information, see the Baltimore City Zoning Code.

IMPROVEMENTS:
Two story end-of-group storefront building – constructed in 1900, containing 2,360 square feet of living area on the upper floors and 780 square feet of basement space, according to public tax records. The building has a formstone facade, awning and wrap-around sign. The interior is arranged as a grocery store and apartment. Needs renovation.

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

TAXES:
Annual real estate taxes are $3,154.54 based on a full value assessment of $133,667

TERMS OF SALE:
A $5,000 deposit, payable by certified check or 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, covenants of record affecting same or housing code violations, 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 10% buyer’s premium to be added to the final bid price.