"Station North Arts & Entertainment District"

REAL ESTATE AUCTION

Three Story
MIXED-USE BUILDING
Zoned OR-1: Office Residential &
R-MU: Rowhouse Mixed-Use

Sale On Premises
215 E. NORTH AVENUE
Near Calvert Street
Baltimore City, MD 21202

WEDNESDAY, AUGUST 9, 2017
AT 12:00 NOON

– Suggested Opening Bid: $50,000 –

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:
215 E. North Avenue is located in the Greenmount West neighborhood in central Baltimore City, and is within the Station North Arts & Entertainment District. Proximity to the Maryland Institute College of Art (MICA), University of Baltimore, Penn Station and the State designation as an Arts & Entertainment District have fostered substantial changes in the area over the last several years. New education buildings, retail developments, multi-unit development and renovations of many existing buildings are all nearby. The newly redeveloped Parkway Theatre and JHU-MICA Film Center are each within a few blocks to the west. New home construction is going to the northeast. The Baltimore City School Board building is opposite the property.

For more information, please see:
https://livebaltimore.com/neighborhoods/greenmount-west/ 
&
http://www.stationnorth.org/ 

SITE:
Rectangular lot 15’10” x 80′, more or less

Zoned OR-1: Office Residential, &
R-MU: Rowhouse Mixed-Use
For more information about the Transform Baltimore Zoning Code, please visit:
Transform Zoning Code Legend http://planning.baltimorecity.gov/sites/default/files/transform%20legend_red_0.pdf
&
Transform Baltimore Homepage http://planning.baltimorecity.gov/programs/transform-baltimore
All public utilities

IMPROVEMENTS:
Three story inside-group storefront building – the building was constructed in 1890, contains 2,284 square feet of living area and 822 square feet of basement space, according to public tax records. The property features a stone facade with architectural storefront details, and is currently arranged as an office and apartment. Needs full renovation.

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

ANNUAL REAL ESTATE TAXES:
Published annual real estate taxes are $3,735.88 based on a full value assessment of $158,300. 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 

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. 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. 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 5% buyer’s premium will be added to the final bid price.