"Dundalk"

Live Auction Bidders – A $10,000 deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. If necessitated by price, the deposit shall be increased to 10% of the purchase price within 24 hours at the Auctioneer’s office. Personal or business checks will be accepted for the increased deposit at the sale site. Otherwise, wiring instructions will be provided or a cashier’s check can be delivered to the Auctioneer’s office.

Online Auction Bidders – A 10% deposit, payable by wire transfer or cashier’s check is required by 4:00 p.m. on the day of auction. No exceptions. 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 5% buyer’s premium 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 see the Sample Contract.

Live Onsite & Simulcast Online Bidding
$100,000 Opening Bid

DUNDALK

One Story, Brick
STOREFRONT BUILDING
2,500± SF ◆ Zoned BL-CCC

Attractive Financing Available

Known As
18 N. DUNDALK AVENUE
Opposite Dundalk Town Center
Baltimore County, MD 21222

Online Bidding Opens
MONDAY, MARCH 25, 2024

Live Onsite Auction
TUESDAY, MARCH 26, 2024
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.

LOCATION:
18 N. Dundalk Avenue is located in the Dundalk area of southeastern Baltimore County, opposite Dundalk’s Historic Shopping District and one block north of Center Place. The property is adjacent to a free public parking lot at the southwest corner of Dundalk Avenue and Baltimore Avenue. The surrounding area is a mixture of residential and commercial land uses.

SITE:
Lot size 25′ x 135′

Situated on the west side of Dundalk Avenue, 50′ south of Baltimore Avenue.

Zoning BL-CCC, Business Local, permitting retail, service, bank, tavern food store, medical clinic, etc.

Public utilities – water, sewer, gas, electricity

Parking pad in rear

IMPROVEMENTS:
One Story Brick and Concrete Block Commercial Building, built in 1962, containing 2,500 square feet of gross building area, according to public tax records. The building has an aluminum storefront with show windows, built-up roof and front and rear entrances. An attractive mural of Dundalk is painted on the side of the building, facing a large public parking lot.

The building is in shell condition and comprises open span space with unfinished concrete floors. The current occupant was in the process of remodeling the space into a nail salon. Plumbing has been installed along the south wall of the building. There is new electric wiring, aluminum studding and three new 2.5 ton roof-mounted electric HVAC units. The work is not complete and the roof is leaking. The location is excellent and the building has good potential for a variety of retail or service uses.

FINANCING IS AVAILABLE: An existing Deed of Trust in the approximate principal amount of $130,000 is available for assumption. The loan runs through November 22, 2028, with interest only payments due until that time (principal to be repaid at maturity). Interest is calculated at 3.5% above the Wall St. Journal Prime Interest Rate (currently 8.5%) for a total current interest rate of approximately 12%. Current monthly interest only payments would be approximately $1,300.

Purchasers are under no obligation to assume the financing, may obtain their own financing or pay cash.

TITLE:
The property is in fee simple and sold free and clear of liens. Baltimore County Deed Book JLE 39708, Page 469.

TAXES:
Published annual real estate taxes are $1,502, based on a full value assessment of $123,900.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.

Live Auction Bidders – A $10,000 deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. If necessitated by price, the deposit shall be increased to 10% of the purchase price within 24 hours at the Auctioneer’s office. Personal or business checks will be accepted for the increased deposit at the sale site. Otherwise, wiring instructions will be provided or a cashier’s check can be delivered to the Auctioneer’s office.

Online Auction Bidders – A 10% deposit, payable by wire transfer or cashier’s check is required by 4:00 p.m. on the day of auction. No exceptions.

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, ground rent, 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, WHERE IS” condition, subject to easements, agreements, restrictions or covenants of record affecting same, if any. 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. Purchaser assumes the risk of loss from the date of contract forward. 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 5% buyer’s premium will be added to the final bid price.