"Downtown Baltimore"

 REAL ESTATE AUCTION 

DOWNTOWN BALTIMORE
OFFICE BUILDING
6,592 S.F. Plus Basement ◆ Elevator
Zoned C5-HT, Commercial

Sale On Premises
320 N. CHARLES STREET
Between Saratoga & Mulberry Streets
Baltimore, MD 21201

WEDNESDAY, DECEMBER 13, 2017
AT 11:00 A.M.

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 AND GENERAL INFORMATION:
320 N. Charles Street is in the heart of Baltimore’s original downtown business district, amid large office towers and apartment buildings, smaller office and retail buildings, restaurants, financial service companies and law firms. The property is a short walking distance to the Baltimore City courthouses, City Hall, city and state office buildings, MTA light rail and subway. MTA bus service is along Charles Street, as is street parking and multiple parking lots. The Peabody Institute of The Johns Hopkins University, Walters Art Gallery, Center Stage and the Inner Harbor are all nearby.

The building was extensively renovated in 2008 and occupied by Meringer, Zois & Quigg, a law firm. The four story building has been entirely used by the firm and is also suitable for configuration as multiple tenant spaces.

SITE:
The property is located on the west side of Charles Street, south of Mulberry Street and north of Saratoga Street. The lot is rectangular, 23’4″ x 75’9″ comprising approximately 1,767 square feet of land.

Zoning C5-HT, Downtown Commercial Zoning District

Public water, sewer, gas, electricity, telephone and Comcast internet are in the property.

Charles Street is a one-way northbound roadway with on-street parking. The building has good visibility for vehicle and pedestrian traffic.

BUILDING:
Four-Story Brick In-Line Storefront Office Building – built in 1920, containing 6,592 square feet of gross building area and 1,648 square feet of basement space, according to public tax records.

Exterior
All brick construction
Rubber membrane roof
Wood double-hung windows
Brick basement foundation
Two exterior front entrances
Sun deck

Interior
Quality finishes
High ceilings
Tastefully decorated
Steel fire stairway

First Floor

• Reception Area – marble foyer, reception desk, show window
• Large Conference Room – carpeting
• Rest Room – marble tile
• Mail/Copier Room – vinyl tile
• Break Room/Kitchen – marble tile
• Vault – from former jewelry store

Second Floor – carpeting

• Large Office or Conference Room
• 3 – Private Offices
• File Room
• Rest Room

Third Floor – wood floors

• Large Office
• Break Room
• 2 – Private Offices
• File Room
• Rest Room

Fourth Floor

• Large Office – wood floor
• 2 – Private Offices – carpeting
• Shower Bath – marble tile
• File Room
• Skylight

Basement
The basement comprises dry, storage area, a rest room and the mechanical room.

Mechanical, Etc.
HVAC – gas forced air heat and central air conditioning – 4 zones
Electric – two 200 amp. panels
Comcast Internet
Water heaters – electric, 2 units
Fire alarm
Elevator – self-service elevator needs repairs

TITLE:
The property is in fee simple and sold free and clear of liens. Baltimore City Deed Book 10954, Page 561.

TAXES:
Published annual real estate taxes are $17,344, based on a full value assessment of $745,567.

TERMS OF SALE:
A $50,000 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. 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.

Auction conducted in collaboration with