"Irvington"

Live Auction Bidders – a $20,000 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 with 24 hours at the Auctioneer’s office (wire or cashier’s check).

Online Auction Bidders – a $20,000 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 price by cashier’s check or wire transfer by 4:00 P.M. on the day of auction.
Deposit Escrow Agreement

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.

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

IRVINGTON

STATELY TWO STORY
STOREFRONT BUILDING
6,450 Sq. Ft. GBA ● 0.12± Acre ● Zoned C-1
– Formerly Irvington Federal Savings & Loan –

Sale On Premises:
4106-4108
FREDERICK AVENUE
A/K/A 4102-4108 Frederick Avenue
or 4106 Frederick Avenue
Near Collins Avenue
Baltimore City, Maryland 21229

Online Bidding Opens
MONDAY, OCTOBER 7, 2024

Live Onsite Auction Begins
WEDNESDAY, OCTOBER 9, 2024
AT 11:00 A.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.

GENERAL INFORMATION:
4106-4108 Frederick Avenue comprises a stately stone front former bank building along Irvington’s commercial corridor in southwest Baltimore. Originally platted as 4102, 4104, 4106 and 4108 Frederick Avenue, the lots were merged to create the 55′ front former bank building that exists on the site currently. The building is vacant and needing renovation, providing a significant opportunity for redevelopment. C-1 zoning provides for commercial, residential and mixed-uses, giving a broad level of options for what development could be accomplished. One large storefront, multi-tenanted commercial, retail on the first floor and apartments on upper floors, or institutional use, may all be considered to optimize leasing income or owner-occupied use of the site, all in a convenient location with good exposure. The auction provides an opportunity to purchase a property with an impressive facade, good provenance within the community and significant development potential.

LOCATION:
The property is located in the Irvington neighborhood in southwest Baltimore City. Surrounding neighborhoods include Yale Heights, Beechfield, Catonsville, Paradise and Allendale. Irvington is an historic community with roots back to the early 1800s, providing a basis for the array of architectural styles and building ages in the community. Frederick Avenue is Irvington’s “Main Street,” a primary commercial corridor featuring a variety of retail and service oriented businesses. Exposure at the site is healthy, with approximately 10,000 cars per day (AADT) passing the site according to MDOT statistics, in addition to pedestrian traffic. Frederick Avenue is a significant commuter artery for those traveling between the Baltimore Beltway (I-695), Downtown Baltimore and other major employment centers nearby, including Saint Agnes Hospital, located at the southeastern corner of the neighborhood.

For more information about the area, please visit:
Neighborhoods – livebaltimore.com
City of Baltimore – www.baltimorecity.gov
CityView Map – cityview.baltimorecity.gov
Community Development Map – cels.baltimorehousing.org

SITE:
Lot size – 55′ x 98′, more or less, according to public records, comprising 5,390 square feet or 0.124 acre.

55′ front along Frederick Avenue. Rear alley access (10′).

All public utilities.

Block Plat

ZONING:
C-1 – Commercial

According to Baltimore City’s Zoning District Summary, the C-1 zone comprises “Commercial clusters or pedestrian-oriented corridors of commercial uses that serve the immediate neighborhood. Ensures compatibility between neighboring residential and commercial uses.”

Permitted uses in the C-1 zoning district include a variety of retail and office uses, places of worship, and various types of residential development.

For more information about zoning, please visit:
Department of Planning – planning.baltimorecity.gov

IMPROVEMENTS:
Two story in-line masonry storefront building – constructed in 1953 and containing 6,450 square feet of gross building area. The building was once home to the Irvington Federal Savings & Loan bank, and has more recently been used for miscellaneous retail and event oriented purposes. The building has been vacant for multiple years and needs renovation. Currently arranged for one large, open room on the first floor front, private offices, powder rooms and storage areas.

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

TAXES:
Current annual real estate taxes are $2,959.44, based on a full value tax assessment of $125,400.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
Live Auction Bidders – a $20,000 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 with 24 hours at the Auctioneer’s office (wire or cashier’s check).

Online Auction Bidders – a $20,000 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 price by cashier’s check or wire transfer by 4:00 P.M. on the day of auction.
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. 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. Time is of the essence. A 5% buyer’s premium will be added to the final bid price.