Buy It Now - "Liberty Center"

Buy It Now
Call for pricing

Investment Opportunity

RETAIL STRIP CENTER

95% Occupied ◆ On-Site Parking

$82,902 ANNUAL NET INCOME

“Liberty Center”
6029-6037 LIBERTY ROAD
Baltimore County, MD 21207

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:
Liberty Center is located in the Lochearn area of eastern Baltimore County, approximately 2 miles east of the Baltimore Beltway (I-695). The property is situated on the south side of Liberty Road (MD-26) at the corner of Tulsa Road, less than one-quarter mile west of Northern Parkway. The surrounding community is comprised of well-established neighborhoods, apartments, schools, community parks and area businesses.

Liberty Road is one of the major thoroughfares leading from Baltimore City to Baltimore and Carroll Counties, and is bounded by retail businesses, gas stations, automotive businesses, restaurants, professional offices and municipal buildings. Liberty Road has been recently paved and undergone a street scape redevelopment, including new curbs and sidewalks. According to TrafficMertix, average traffic at the corner of Liberty and Tulsa Road is 36,346 cars per day.

The sale presents an excellent opportunity to buy a center with excellent exposure, long standing tenant base and a history of strong income.

SITE:
0.36± acre, situated at the southwest corner of Liberty and Tulsa Roads. The lot fronts approximately 120′ on Liberty Road.

Approximately 23-car paved parking in the front of the building. Street parking on Tulsa Road.

Two pole signs

Public water, sewer, gas, electricity, telephone, internet, phone

Topography – mostly level

Not located in a flood hazard area, see FEMA FIRM Panel 2400100245F

ZONING:
BLR – Business Local Restricted
Baltimore County Zoning Code: http://www.baltimorecountymd.gov/Agencies/planning/zoning/

IMPROVEMENTS:
One story masonry building with finished lower level – the building was constructed in 1961, according to public tax records.
● 14,700 square feet of gross building area
● 11,209 square feet of leasable building area, 10,709 under lease, 500 available
● Garage with roll-up door and curb cut – under lease
● Currently configured for four retail tenant spaces on the first floor, and seven suites on the lower level
● Four front tenant entrances, lower level entrance on the side (Tulsa Road)
● Utilities are sub-metered for each tenant space

Exterior
● Brick and concrete block construction
● Built-up flat roof
● Commercial windows (plate glass in metal frames)
● Commercial aluminum doors
● Fresh exterior painting, landscaping and signage

Interior
● Drywall, drop ceiling, carpet or ceramic tile in retail spaces
● Drywall, drop ceiling and mixed flooring in lower level suites
● Separate HVAC for each tenant – central gas heat or heat pump and central air conditioning
● Glass interior doors
● 10′ ceiling heights in retail spaces and lower level suites

Income
$82,901.87 – 2016 Net Operating Income
$84,344.04 – 2017 Scheduled Net Operating Income ($42,172.83 through 6/30/17)

ADDITIONAL INFORMATION
For a copy of the Rent Roll, NOI Reports, Floor Plan, Leases, and other documents, please fill out a Waiver and Confidentiality Agreement, sign it, and return it to the office of the Auctioneer by fax to 410-296-4420 or email info@ajbillig.com. Once the completed form has been received, you will receive the confidential information via email. Requests are normally answered Monday-Friday 9 am-4 pm.

TITLE:
The property is in fee simple and sold free and clear of liens. Baltimore County Deed Book SM 21825, folio 0211.

TERMS OF SALE:
A 10% deposit, payable by certified 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, if applicable, will be transferred at settlement. 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