Mixed-Use Investment Property

  AVAILABLE  

MIXED-USE
INVESTMENT PROPERTY
3 Stores & Townhouse

5313 YORK ROAD
& 500 SHERIDAN AVENUE
Corner York Road & Sheridan Avenue
“Woodbourne – McCabe”
Baltimore, MD 21212

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:
The property is located in the Woodbourne-McCabe neighborhood of north Baltimore, one block north of Homeland Avenue and one block south of Woodbourne Avenue, along the York Road community commercial district. The Woodbourne-McCabe neighborhood is bounded by Homeland, Kenilworth Park and Govans. The surrounding area is a mixture of retail stores, professional offices, automotive service facilities and housing. MTA bus service is along York Road.

SITE:
The property fronts 71′ along the east side of York Road (MD-45) by 23′ along the north side of Sheridan Avenue, comprising approximately 2,080 square feet of land. The lot is level and clear.
The site has good visibility from northbound and southbound York Road.

All public utilities are in the property.

Zoning R-7, non-conforming use.

IMPROVEMENTS AND OCCUPANCY:
Two Story Brick End-of-Group Townhome and adjoining One Story Double Storefront. According to public tax records, the building was constructed in 1920 and contains 1,786 square feet, plus basement. The property is currently leased to four tenants. Each tenant space has separate gas heat and utility meters.

500 Sheridan Avenue – two story townhome, currently rented for $850 per month. Tenant also pays 75% of the water bill for the total property. Current MDE lead rental registered. The home is believed to contain a living room, dining room, kitchen, 3 bedrooms, bath and basement.

5313 York Road – middle storefront, variety store, currently rented for $700 per month.

5313½ York Road – end storefront, eyelash and apparel shop, currently rented for $500 per month.

5313B York Road – basement, ministry, currently rented for $450 per month.

Tenants pay their own utilities. Landlord pays taxes, 25% of the water bill, annual insurance of approximately $1,150 and repairs.

Copies of leases are available. Please complete the Waiver and Confidentiality Agreement and copies of the leases will be emailed.

TAXES:
Published annual real estate taxes are $2,395.40, based on a full value assessment of $159,300. 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

TITLE:
The property is in fee simple and is sold free and clear of liens. Baltimore City Deed Book 19424, Page 22.

TERMS OF SALE:
A 10% deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. 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, rents, 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. Security deposits will be transferred to the purchaser at settlement. The property will be sold in “AS IS” condition, and subject to existing leases, 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. 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.

No buyer’s premium.