Buy It Now: $600,000
Friday, June 2, 2023 at 11:00 AM
Please email firstname.lastname@example.org or call 410-296-8440 if you would like to attend the open house for the property.
A 10% deposit, payable by cashier’s check or wire, will be required of the purchaser. 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.
Federal Opportunity Zone
– US-40 –
19 Approved Units ✦ 0.75± Acre ✦ Zoned B3
– $64,200 Annual Gross Scheduled Rent –
404 S. PHILADELPHIA BOULEVARD (US-40)
Known as “The Aberdeen in Town Motel”
Corner Warren Street
Aberdeen, Harford County, MD 21001
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.
The property, historically known as the Aberdeen in Town Motel, is located at the corner of Philadelphia Boulevard (US-40) and Warren Street in the heart of Aberdeen. Philadelphia Boulevard, known as Pulaski Highway through most of the span between Baltimore and Wilmington, is a major artery across the United States. The high exposure throughway generates approximately 30,000 cars per day (AADT) passing the site, according to MDOT statistics. Aberdeen Proving Ground, the largest employer in Harford County and source of thousands of residents and visitors to the area, is located approximately 3 miles south. The Amtrak Aberdeen Station is less than one-half mile north. A number of national and local retailers are located throughout the immediate area. A deceleration and turn lane for Warren Street is along northbound Philadelphia Boulevard.
The site is comprised of three buildings in varying conditions with on-site parking. The front building, arranged for 5 apartments, and rear manager’s cottage are rented on a long-term basis. The central building has been fire damaged, partially gutted and provides ample opportunity for value-add or full redevelopment. The auction provides an opportunity to purchase a site with a long business history, existing cash flow and with a location and zoning that provides substantial investment potential. The property’s location within a Federally designated Opportunity Zone, providing an array of financial incentives for development, further enhances the potential for the site.
For more information about the area, please visit:
Aberdeen, MD – www.aberdeenmd.gov
Harford County, MD – www.harfordcountymd.gov
Maryland Opportunity Zones – dhcd.maryland.gov
Opportunity Zones FAQs – www.irs.gov
Lot size – 0.747 acre, more or less
The site features approximately 150′ of frontage along Philadelphia Boulevard, and depths of a little over 200′ along Warren Street.
The 20+ car parking area is at grade with Warren Street, providing an extended curb cut on the north side of the property. A wide, vehicle accessible alley bounds the west side of the property.
All public utilities
B-3 Highway Commercial District (City of Aberdeen Zoning) – Approved use for Motel
According to the Aberdeen Zoning Code, “The purpose of this district is to provide for a number of retail and office establishments and commercial services for use by the traveling public on or near major roads or streets in the City and at the same time is intended to maintain the appearance of the highways and their access points by limiting outdoor advertising and establishing high standards for development. Commercial development in this district shall be in the form of well-planned and heavily buffered commercial concentrations as opposed to traditional forms of highway strip commercial.”
A variety of permitted uses are available within the B-3 district, including: hotel and motels; garden, mid and high rise apartments; office; retail stores; automotive businesses; restaurants; medical services; and, a variety of institutional uses.
For more information about City of Aberdeen Zoning, please visit:
Planning and Community Development – www.aberdeenmd.gov
The property is improved by a brick building arranged for 5 dwelling units, masonry and brick building arranged for 13 motel units, and a ranch home with attached garage. Existing gross scheduled rentals are $64,200/year.
Front building – One and one-half story brick building arranged for 5 apartment units, all of which are occupied on a long-term basis. Believed to comprise approximately 3,200 finished square feet plus basement. Units are a mix of one bedroom and efficiency units. Total rent is $4,350/month, or $52,200/year. Finishes include vinyl tile floors, carpet, some quartz counter tops and mixed appliances. Exterior features include asphalt shingle roof, vinyl-clad replacement windows and aluminum downspouts and rain gutters. Each unit has an exterior entry.
Main building – Two story masonry and brick building comprising 7,493 square feet, and originally arranged for 12 motel units and office. The building is fire damaged, and has been partially gutted. Renovation permits are in process.
Manager’s cottage – frame ranch home with attached garage, featuring asphalt shingle roof, vinyl siding, vinyl-clad replacement windows and arranged for one bedroom, living room, kitchen and bath. Currently rented for $1,000/month, or $12,000/year.
Please complete the Waiver and Confidentiality agreement to obtain copies of the permit application, drawings and Harford County Plan Review Comments.
In fee simple; sold free and clear of liens.
Published annual real estate taxes are believed to be $9,948 including both City of Aberdeen ($3,939) and Harford County ($6,009) taxes, based on a full value tax assessment of $630,300.
SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A 10% deposit, payable by cashier’s check or wire, will be required of the purchaser. 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.
NO BUYER’S PREMIUM!
Buy It Now: $600,000