"East Baltimore Midway"

Live Auction Bidders – a $10,000 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 $10,000 or 10% deposit, whichever is greater, payable by cashier’s check or wire, will be required of the purchaser by 4:00 P.M. on the day of auction. 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.

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.

Featuring Live & Simulcast Online Bidding
$75,000 Opening Bid

EAST BALTIMORE MIDWAY

ONE STORY INLINE
STOREFRONT BUILDING
1,800± Sq. Ft. GBA – Opportunity Zone

Known As:
“ROMAN’S FOOD MARKET”

Sale On Premises:
931 E. 22ND STREET
Near Kirk Avenue
Baltimore City, MD 21218

Online Bidding Opens
MONDAY, MAY 6, 2024

Live Onsite Auction Begins
TUESDAY, MAY 7, 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.

LOCATION:
931 E. 22nd Street is located in the East Baltimore Midway neighborhood in East Baltimore. Positioned between Greenmount Avenue and Harford Road, North Avenue and 25th Street, East Baltimore Midway is in the heart of Baltimore City. The surrounding area is a mix of educational facilities, recreation buildings and townhomes, with a number of commercial and industrial businesses in close proximity. The make up of the surrounding community provides a significant consumer base for businesses of all types. The property is also located within a Federal Opportunity Zone, providing substantial tax incentives for buyers looking to allocate investment funds.

The property has been operated as Roman’s Food Market for a number of decades. The business is well-known to those who live and work nearby. Seller provided information indicates that the business is grossing approximately $500,000 per year. The auction provides a great opportunity for a user to purchase an ongoing business with the real estate. The asset also has ample potential for redevelopment or leasing.

For more information about the area, please visit:
East-Baltimore-Midway – livebaltimore.com
City of Baltimore – www.baltimorecity.gov
CityView Map – cityview.baltimorecity.gov
Community Development Map – cels.baltimorehousing.org
Opportunity Zone Information – www.baltimoredevelopment.com

SITE:
Lot size – 31’10” x 59’10”, according to public tax records. Plat

All public utilities

ZONING:
R-8 Residential – Approved use for Store & Carryout

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

IMPROVEMENTS:
Single story in-line storefront building arranged as a convenience store and carryout. The building is estimated to contain 1,800 square feet of gross building area above grade. The building also contains a full basement and rear mezzanine, comprising roughly 2,000 additional square feet. Torch down roof.

The interior is arranged as follows: secured front service area; full service kitchen with grill, fryer and hood; open retail area with refrigerators and freezers, shelving and standard convenience store fixtures; rear walk-in cooler (condition unknown); powder room; dry storage and unfinished basement. Gas forced air heat, CAC, electric water heater.

Currently being operated as “Roman’s Food Market.” The sellers, who have been operating the business for approximately 10 years, have stated that gross revenue is roughly $10,000 per week.

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

TAXES:
Current annual real estate taxes are $2,961.80, based on a full value tax assessment of $125,500.

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. 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 $10,000 or 10% deposit, whichever is greater, payable by cashier’s check or wire, will be required of the purchaser by 4:00 P.M. on the day of auction.

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, 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. 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.

NO BUYER’S PREMIUM!