"Pikesville"

On-Site Bidders – a $100,000 deposit, payable by cashier’s check, will be required of the Purchaser at time and place of sale.

Online Bidders – a $100,000 deposit, by cashier’s check or wire transfer, is required at the Auctioneer’s Office, prior to the start of the live auction. The deposit will be returned within 24 hours following the auction to non-winning bidders. Deposit Escrow Agreement.

No buyer’s premium. For complete Terms Of Sale, see the Summary Terms Of Sale at the bottom of this page and see the Sample Contract.

Live Onsite & Simulcast Online Bidding
$1,500,000 Opening Bid

PIKESVILLE

Three Story Brick
OFFICE BUILDING
21,000± SF ◆ 72 Car Parking

$330,192 Gross Annual Income

Known As
104 CHURCH LANE
Baltimore County, MD 21208

CANCELED

Online Bidding Opens
MONDAY, JUNE 12, 2023

Live Onsite Auction
WEDNESDAY, JUNE 14, 2023
AT 12:00 NOON

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.

GENERAL INFORMATION:
104 Church Lane is a well maintained brick office building, which is currently 100% occupied. Tenancies are a mixture of short and multi-year terms, providing an opportunity for prospective owner-occupants and/or increased rentals. The building has good curb appeal, an elevator and abundant surface parking. Significant updates have been made during the last five years, including new HVAC, lighting and windows.

LOCATION:
The building is situated on Church Lane, one block west of the 1300 block of Reisterstown Road and one mile south of Beltway (I-695) Exit 20. The surrounding area is a mixture of office buildings, shopping centers, single family homes and townhomes. The building is within walking distance of the Maryland State Police Headquarters, a US Post Office, restaurants and shopping.

SITE:
1.03 acre L-shaped parcel, fronting approximately 160′ along the north side of Church Lane and 100′ along the west side of Bedford Avenue. Interior depths are approximately 236′ from Church Lane and 230′ from Bedford Avenue. The property is fairly level and landscaped. New rear fence (2017).

Paved macadam parking for 72 cars – resurfaced and striped in 2021

Utilities – public water, sanitary sewer, electricity, telephone, high speed internet

Zoning OR-1, office-residential

Subdivision Plat

Tax Map

Aerial Photo

IMPROVEMENTS:
Three Story Brick Freestanding Office Building, constructed in 1988 and containing approximately 21,000 square feet of gross building area.

• Building has a brick facade, gabled architectural shingle roof, casement windows (new 2019), exterior lighting, interior lighting (new 2017), multiple security cameras and is constructed on a concrete slab at grade
• Front, rear and side entrances, including central portico leading to lobby and elevator
• Otis 3,500 capacity self-service elevator and two internal stairways
• Wet fire suppression system
• Electric forced air heat and air conditioning, installed in 2020, consisting of one unit per floor, with ground level water tower, and plasma filters
• Each floor has two, five-piece ceramic tile rest rooms (plus one additional rest room on first floor) and janitorial closet with sink
• Four electric meters, one per floor and public service, four 400-ampere electrical panels
• First Floor comprises multiple office suites with at-grade entrance in the rear
• Second Floor consists of six office suites of varying sizes, each with reception area, and separate front exterior entrance
• Third Floor is a well-appointed office suite, currently occupied by a single tenant
• Interior finishes are drywall, carpeting, acoustical tile ceilings, recessed and florescent lighting

TAXES:
Published annual real estate taxes are $26,319, based on a full value tax assessment of $1,988,800.

TITLE:
The property is in fee simple and sold free and clear of liens. Baltimore County Deed Book SM 10171, Page 430.

ADDITIONAL INFORMATION:
Please complete the Waiver and Confidentiality agreement to receive:

• Current Rent Roll
• Proforma Income & Expense Statement
• Copies of Leases

SUMMARY TERMS OF SALE:
Please see the Contract of Sale for complete terms.

On-Site Bidders – a $100,000 deposit, payable by cashier’s check, will be required of the Purchaser at time and place of sale.

Online Bidders – a $100,000 deposit, by cashier’s check or wire transfer, is required at the Auctioneer’s Office, prior to the start of the live auction. The deposit will be returned within 24 hours following the auction to non-winning bidders. Deposit Escrow Agreement.

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. 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. The property will be sold in “AS IS” condition, subject to easements, agreements, restrictions or covenants of record affecting same, if any, and subject to the legal operation and effect of the existing leases and the rights of the tenants in possession. 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.