"Towson - The Professional Centre"

A $7,500 deposit, or ten percent (10%) of the Purchase Price (whichever is greater) in a cashier’s check to be delivered to the Auctioneer’s office at 6500 Falls Road, Baltimore, MD 21209, or sent by wire transfer, by 4 P.M. on the day of auction. When you register for an online auction, a “ping” will be placed on your credit card and immediately voided, you will not be charged the deposit amount. A 6% or $2,500 buyer’s premium, whichever is greater, will be added to the final bid price. For complete Terms Of Sale, see the Summary Terms Of Sale at the bottom of this page and please see the Sample Contract.

Opening Bid: $50,000

TOWSON
– The Professional Centre –

MEDICAL OFFICE
CONDOMINIUM UNIT
– Next to St. Joseph’s Medical Center –

Known As:
120 SISTER PIERRE DRIVE
UNIT 406
Off York Road via St. Joseph Hospital Road
Towson, Baltimore County, Maryland 21204

BIDDING OPENS:
FRIDAY, MAY 16, 2025

BIDDING CLOSES:
TUESDAY, MAY 20, 2025
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:
The auction sale features a 1,051 square foot medical office condominium in the Professional Centre condominium in the Towson area of Baltimore County. The building sits nestled among both the University of Maryland Saint Joseph’s Medical Center Campus and Towson University. Located a short distance off York Road between Towsontown Boulevard and Stevenson Lane, the location is ideal for patients and staff located throughout the area. The unit presents an excellent opportunity for a small practice group, expansion of an existing practice within the building, remote location for a multiple location practice or investment.

LOCATION:
The Professional Centre building is located in Towson next to St. Jospeh’s Medical Center and Towson University. The center of Towson is approximately 1 mile north, and Baltimore City is approximately 1.5 miles south. Access to the Baltimore Beltway (I-695) is excellent, with multiple exits within 2.5 miles. I-83 (Jones Falls Expressway) is approximately 4 miles west via either the Ruxton Road or Northern Parkway exits. The immediate area is comprised predominantly of medical and university buildings, with traditional retail and office properties along York Road, and the neighborhoods of Rodgers Forge, Wiltondale, Stoneleigh, Anneslie and others rounding out the residential communities nearby.

THE PROFESSIONAL CENTRE:
The Professional Centre Condominium comprises a stately 5 story elevator building with brick facade constructed in 1986 and containing 43,142 square feet of gross building area. The building contains approximately 40 units and a handful of deeded parking spaces. There are approximately 80 total parking spaces between the front surface lot and adjoining garage. A number of other public parking lots are in the area.

Current condominium fee is believed to be $793.18/month, including condominium fee, parking fee and storage locker fee. The unit comes with one deeded covered parking space.

Condominium Resale Documents

IMPROVEMENTS:
Unit 406 is a fourth floor unit containing 1,051 square feet of unit area. Finishes include drywall, carpet and laminate floors. Separate heat and central air, with additional baseboard heat. The unit is arranged for reception area and waiting room, administrative office area, two exam rooms (plumbed), large private office, kitchenette and storage.

Condominium Plat

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

TAXES:
Published annual real estate taxes are $2,389.45 based on a full value tax assessment of $126,100.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $7,500 deposit, or ten percent (10%) of the Purchase Price (whichever is greater) in a cashier’s check to be delivered to the Auctioneer’s office at 6500 Falls Road, Baltimore, MD 21209, or sent by wire transfer, by 4 P.M. on the day of auction. 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. 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, condominium fees, ground rent and 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, and subject to the Declaration and By-Laws of The Professional Centre Condominium. 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 except where otherwise mandated by local, State or Federal law. Time is of the essence. A 6% or $2,500 buyer’s premium, whichever is greater, will be added to the final bid price.

Auction conducted in collaboration with
MacKenzie Commercial Real Estate.