"Hamilton"

REAL ESTATE AUCTION

MIXED-USE BUILDING
Zoned C-1 ◆ 3,384 Sq. Ft.
Barbershop & Apartment

Sale On Premises
2923 HAMILTON AVENUE
a/k/a 2923-2925 Hamilton Avenue
Off Harford Road
Baltimore City, MD 21214

THURSDAY, JANUARY 25, 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 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:
2923 Hamilton Avenue is located in the Hamilton Hills neighborhood in northeast Baltimore City. The property is situated one-half block west of Harford Road in the heart of the Hamilton-Lauraville Main Street corridor. Surrounding properties are predominantly commercial or mixed use, and include a grocery store, restaurants, retail businesses, neighborhood services, galleries and religious buildings. According to the State Highway Administration GIS Traffic Count Map, approximately 8,682 cars per weekday travel along this segment of Hamilton Avenue, and more than 24,000 cars per weekday along nearby Harford Road, providing significant exposure and consumer access. The building is well situated for continued operation as first floor retail and apartment above, or for further development by an owner-occupant or investor to their desired use.

For more information about the area, please visit:
https://livebaltimore.com/neighborhoods/hamilton-hills/
http://bmoremainstreet.com/

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

SITE:
Lot – 0.044 acre, more or less

The lot fronts 25’3″ on Hamilton Avenue

10′ rear alley

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

IMPROVEMENTS:
Two story inside-group brick building – the building was constructed in 1920, contains 3,384 square feet plus basement, according to public tax records. The building is currently arranged for a barbershop and salon, on the first floor, with an apartment above.

Barbershop – Finishes include show windows, laminate floors, paneled walls and drop ceiling. Arranged for large open work area, rear work/dryer area, office and storage space.

Apartment – Finishes include vinyl-clad replacement windows, wood floors, laminate floors, drywall and plaster. Arranged for 5 rooms (3-4 BR) and full bath. Currently rented for $580/mo. On a month to month lease.

Unfinished basement, with shower, flush and ample storage space.

Mechanical – Oil fired radiant heat. Two electric meters.

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

TAXES:
Annual real estate taxes are $3,097.90

TERMS OF SALE:
A $7,500 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 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!