"Towson"

This Auction has been CANCELED.
Sold prior to the auction.

Live Auction Bidders – a $25,000 deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. The deposit shall be increased to 10% of the purchase price within 24 hours at the Auctioneer’s office (wire or cashier’s check).

Online Auction Bidders – a $25,000 deposit, payable by cashier’s check or wire, will be required of all online bidders prior to the start of the live auction. The deposit will be held in escrow until the completion of the auction and will be retained from the winning bidder. Other bidder deposits will be returned within one business day. Interested parties who do not provide a deposit in advance as stated above will not be permitted to bid. The deposit shall be increased to 10% of the purchase within 24 hours at the Auctioneer’s office (wire or cashier’s check). Deposit Escrow Agreement.

 A 6% 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 or see the Sample Contract.

Featuring Live & Simulcast Online Bidding
$200,000 Opening Bid

TOWSON

FREESTANDING OFFICE BUILDING
Zoned ROA ● 0.18± Acre ● 12+ Car Parking

– Possible Residential Conversion –

Sale on Premises
403 W. PENNSYLVANIA AVENUE
Towson, Baltimore County, Maryland 21204

CANCELED

Online Bidding Opens
MONDAY, NOVEMBER 27, 2023

Live On-Site Auction
WEDNESDAY, NOVEMBER 29, 2023
AT 1:00 P.M.

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:
403 W. Pennsylvania Avenue is located in the West Towson area of Baltimore County. Towson has experienced extensive and impressive development over the past couple of decades, amplifying over the past five years. New entertainment facilities, restaurants, hotels, academic buildings and a grocery store have been constructed within just a few blocks. The property sits one block from Bosley Avenue (Towson Bypass), two blocks from the Baltimore County Circuit Court (currently being renovated) and just five blocks from the Towson Circle. Access to major commuter routes is excellent. The Baltimore Beltway is about one mile north via either York Road or Dulaney Valley Road. Joppa Road, Goucher Boulevard, Towsontown Boulevard and Charles Street are also nearby. According to the Baltimore County Public Schools locator app, nearby schools are West Towson Elementary, Dumbarton Middle and Towson High.

The property is ideally located for both businesses and residents looking to maximize proximity to all of Towson’s amenities. The property has been a home for successful businesses over the past few decades. The site also makes an extremely convenient residential location with dining, entertainment, groceries and shopping within a very short distance. So, whether looking for a place to site your business, a place to live, or both, the auction provides an exceptional opportunity to purchase a property with substantial appeal.

For more information about the area, please visit:
Baltimore County, MD – www.baltimorecountymd.gov
Baltimore County Public Schools – www.bcps.org

SITE:
Lot size: 0.18 acre, more or less, according to tax records

The lot fronts 60′ on W. Pennsylvania Avenue with depths of approximately 130′

Curb cut on W. Pennsylvania Avenue. Asphalt driveway and paved parking area for 12-13 vehicles. Mature landscaping around the building and small front yard.

All public utilities are believed to be in the property

ZONING:
ROA – Residential Office, Class A

According to Baltimore County’s Citizen’s Guide to Zoning, the intent of the ROA zone is “To accommodate single-family, duplex and two-family detached houses converted to office buildings in predominantly residential areas on sites that, because of adjacent nonresidential activity, heavy commercial traffic or other similar factors, can no longer reasonably be limited to uses allowable in moderate-density residential zones.”

For more information about zoning, please visit:
Zoning Review – www.baltimorecountymd.gov

IMPROVEMENTS:
Two story building – constructed in 1925, containing 1,433 square feet above grade plus basement space, according to public tax records. Actual above grade square footage is believed to be approximately 1,700 square feet and 1,000 square feet of basement space.

Exterior:

• Frame construction
• Stucco facade
• Wood windows
• Covered front porch
• Wood fire escape from second floor

Interior:

First floor –

• Lobby and reception area – gas fireplace with brick mantle, carpet
• Office – carpet
• Powder room
• Kitchenette – vinyl floor

Second floor –

• Large, open floor-plan office area – carpet

Walk-up Storage Attic

Basement/Mechanical –

• Unfinished
• Storage and utility areas
• Forced air heat and CAC – 2 units
• Water heater
• Sump pump

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

TAXES:
Published annual real estate taxes are $4,565.68 based on a full value tax assessment of $340,400.

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

Live Auction Bidders – a $25,000 deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. The deposit shall be increased to 10% of the purchase price within 24 hours at the Auctioneer’s office (wire or cashier’s check).

Online Auction Bidders – a $25,000 deposit, payable by cashier’s check or wire, will be required of all online bidders prior to the start of the live auction. The deposit will be held in escrow until the completion of the auction and will be retained from the winning bidder. Other bidder deposits will be returned within one business day. Interested parties who do not provide a deposit in advance as stated above will not be permitted to bid. The deposit shall be increased to 10% of the purchase within 24 hours at the Auctioneer’s office (wire or cashier’s check). Deposit Escrow Agreement.

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, 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. The Purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law. 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 6% buyer’s premium will be added to the final bid price.

Sale Conducted in Collaboration With:
MacKenzie Commercial Real Estate