"Harford County - Bel Air - Hickory Area"

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ESTATE SALE

HARFORD COUNTY
Bel Air – Hickory Area

50+ ACRE
COMMERCIAL DEVELOPMENT SITE
Zoned CI – Commercial Industrial
Existing Cash Flow ✦ 3 Parcels

Separate & Entirety Offerings

Known As:
2001 CONOWINGO ROAD
& Tax IDs: 03302474 & 03244768
Fronts on Hickory Bypass (US-1),
Conowingo Road & Evergreen Road
Bel Air, Harford County, MD 21014

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:
2001 Conowingo Road is located in the Hickory or northern Bel Air area in Harford County. The area, known as largely agricultural historically, has seen good, sustained development over the past few decades. Consistent residential development has been underway since the early 1990’s, adding to the subdivisions that began to appear in the area in the 1950’s through the 1970’s. A number of subdivisions in immediate proximity to the site were constructed in the 1990’s and 2000’s. The community serves as a convenient place to live for those working in the immediate area, as well as those commuting throughout the I-95 corridor and surrounding employment centers.

Conowingo Road, US-1 and Fountain Green Road have been something of a local hub of commercial activity since the 1940’s, but commercial development has significantly paced-up since the late 1990’s, complimenting the increase in the overall population in the area. At the northeastern edge of the property, a Redner’s Fresh Market and retail pad sites (Burger King and First National Bank) were constructed between 1999-2000. A new retail strip, including a dental office and Dunkin’, is currently being completed near the northeast corner of the property. Significant ongoing construction is also occurring across Fountain Green Road, adding to the existing retail and industrial businesses (Taco Bell, Royal Farms, automotive, etc.). Additional retail, office, industrial and institutional buildings have been constructed towards the southern and northern boundaries of the property. Hickory Elementary School is located opposite the site on Conowingo Road, and other Harford County Government offices are in the near vicinity.

Exposure at the site is exceptional. With frontage on Fountain Green Road, Conowingo Road and US-1/Hickory Bypass, the site provides visibility along both a major highway and more localized commuter routes. According to MDOT statistics, the nearby traffic counts are 23,302 cars per day along US-1/Hickory Bypass, 12,272 along Conowingo Road and 7,680 along Fountain Green Road (all AADT).

An opportunity to purchase one of the largest commercial development sites in Harford County, in a location with sufficient demand to support a variety of development perspectives. Ongoing rental income at the site provides additional investment stabilization. That income can strategically off-set the soft costs and time attributable site design and entitlements, or otherwise provide revenue to accompany a long-term hold perspective. All-in, the offering represents a remarkable investment opportunity.

For more information about the area, please visit:
Harford County, MD – www.harfordcountymd.gov
Harford County WebGIS – hcggis.harfordcountymd.gov

SITE:
The site comprises three lots with a total lot size of 53.19 acres. There are three tenants on the property, Baker Forest Products, cell tower and one residential tenant. Total gross scheduled annual rent is $48,718.73. Further details below.

2001 Conowingo Road:

• Tax ID: 03-064387
• 48.87 Acres
• Improvements include a masonry building comprising 16,617 square feet of gross building area, used as storage by Baker Forest Products, two houses (one rented) and a collection of other temporary or small outbuildings.
• The lot has road frontage on Conowingo Road (approx. 600′) and N. Fountain Green Road (approx. 100′)
• Visibility along Hickory Bypass/US-1 for approximately 2,300′
• Access may be possible from Evergreen Road and Spruce Drive (off Conowingo Road)
• The lot is predominantly wooded with clear areas around the Baker Forest Products site
• Topography is gently sloping from north to south. Approximately 470′ of elevation along the northern side, and 430′ along the southern corner
• Two small streams and some wetlands are believed to be in the middle of the property, impacting approximately 10 acres.
• Public water and sewer are available. Public water is connected.
• Baker Forest Products:
  • $2,750/month rent
  • Current lease expires 12/31/2023
  • Tenant since 2014
• 2021 Conowingo Road – Residential Lease
  • $1,050/month rent
  • Current lease expires 8/31/2023
  • Tenant since 2007
• Cell Tower
  • $3,118.73 per year
• Harford County GIS Map
• SDAT Map

Conowingo Road and Evergreen Road Parcels:

• Tax IDs: 03-302474 (“Conowingo”) & 03-244768 (“Evergeen”)
• 4.32 total acres
• Conowingo comprises 1.03 acres. Evergreen comprises 3.29 acres.
• The Conowingo parcel fronts approx. 182′ on Conowingo Road
• Evergreen parcel has approx. 30′ frontage on Evergreen Road
• The lots are wooded, and sloping from north to south.
• Mixed zoning on Evergreen per below
• Water service is believed to be available. Septic may be required.
• Harford County GIS Map
• SDAT Map

Please complete a Waiver and Confidentiality agreement to obtain copies of the leases.

ZONING:
C I – Commercial Industrial. A portion of the Evergreen parcel is located in an R2 – residential district.

According to the Harford County Zoning Department, the Commercial Industrial district “is intended for industrial, office, and business uses of a moderate scale and intensity.” A very large variety of commercial and industrial uses are permissible within this district. A table of permitted uses is linked below.

For more information about Harford County Zoning, please visit:
Zoning Administration – www.harfordcountymd.gov

Permitted Use Table

Zoning Map

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

TAXES:
Published annual real estate taxes are:

2001 Conowingo Road: $33,936.21 based on a full value tax assessment of $3,127,933. An additional $70 per year is applicable as a user benefit assessment through 6/30/24.

Tax ID 03-302474: $561.30 based on a full value tax assessment of $51,500.

Tax ID 03-244768: $133 based on a full value tax assessment of $12,200

Total: $34,700.51 based on a full value tax assessment of $3,191,633

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

A 10% deposit will be required of the purchaser (wire or cashier’s check). 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, rent, 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 settlement and assumed thereafter by the Purchaser.  Security deposits, if any, shall be adjusted at the time of settlement. The property will be sold in “AS IS” condition, and subject to the existing leases of the tenants in place, easements, agreements, restrictions or covenants of record affecting same, if any. The Property will be sold subject to Harford County violation notices, 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 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.

The Property is being sold subject to the tenant’s right of first refusal as designated in the subject lease. Said right of first refusal must be exercised within 10 business days of being notified as to a bona fide offer. In the event that tenant exercises the right of first refusal, Purchaser shall receive a refund of their deposit as specified above, and the Contract will be deemed to be null and void and of no effect. Purchaser shall have no further claim against the Seller or Auctioneers.