"Hagerstown Commerce Center"

Live Onsite & Online Simulcast Bidding
$500,000 Opening Bid

HAGERSTOWN

6.7± ACRE
COMMERCIAL DEVELOPMENT PARCEL
Zoned Commercial General ● Exposure on I-70

Substantial Development
Work Already Complete

Known As:
ALL STAR COURT
HAGERSTOWN COMMERCE CENTER LOT E
Tax ID: 17064930
Off Dual Highway (US-40)
Hagerstown, Washington County, Maryland 21740

Online Bidding Opens
MONDAY, MAY 13, 2024

Live Onsite Auction
WEDNESDAY, MAY 15, 2024
AT 12:00 NOON

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:
The Hagerstown Commerce Center comprises a commercial multi-purpose development immediately southwest of Dual Highway in Hagerstown. The development features a hotel and self-storage facility currently, both adjacent to large-scale new car dealerships. Additional retail and hospitality oriented development is planned. Lot E is at the end of All Star Court along a cul-de-sac. The site is bound by Interstate 70 to the south, providing valuable exposure and potential signage to 70,000+ cars per day. The site is clear and fairly level with a significant amount of development and entitlement work already complete. Commercial General zoning provides a broad level of commercial uses. Access to major highways, exposure along a well-traveled interstate highway, flexible zoning and available utilities make the site exceedingly attractive for investors and users of all types.

LOCATION:
The Hagerstown Commerce Center is located along All Star Court southwest of Dual Highway (US-40), north of Interstate 70 and 2 miles south of downtown Hagerstown. Hagerstown is the county seat for Washington County, and is a hub for local, regional and national business based on its position along major US highways (US-40, I-70 & I-81). The Hagerstown Commerce Center maximizes that position with immediate access to US-40 and I-70. Interstate 81 is just 6.5 miles west. Existing businesses nearby both demonstrate and bolster the location’s value, and include a Fairfield Inn & Suites, Valley (Self) Storage, Hamilton Nissan and the Younger Auto Group. According to MDOT statistics, daily traffic (AADT) comprises 70,291 cars along I-70 immediately south of the property, and 32,650 cars along Dual Highway (US-40) at the intersection of All Star Court.

For more information about the area, please visit:
Hagerstown, MD – www.hagerstownmd.org
Washington County, MD – www.washco-md.net

SITE:
6.66 acres, more or less – Survey

The lot is clear and mostly level (10′ slope across most of the lot). The lot fronts along a cul-de-sac at the end of All Star Court. Approximately 700′ linear feet of frontage along I-70 immediately south of the property. Approximately 4.78 acres of the site has development potential, with 1.88 acres in reserve for forest conservation.

A private sewer system has been run to the site. Public water and gas service are available. Off-site storm water management is in place and adjacent to the lot.

Signage along Dual Highway (US-40) may be available by lease with the existing developer.

Drawings of the existing development are available under the additional information section.

ZONING:
CG – Commercial General

According to the City of Hagerstown zoning summaries, the commercial general zone “Allows all types of commercial uses, except big box retail (e.g, Dual Highway, Eastern Boulevard, Best Buy shopping center, South End shopping center, Railway Lane, etc.).”

In addition to the array of specifically commercial (retail, hospitality, automotive and office) permitted uses found in the code, additional permitted uses include some residential uses, a variety of public and institutional uses (ex: Day-care, community centers, religious use, fitness and recreational facilities), broadcasting, some light industrial and temporary uses.

For more information about Hagerstown Zoning, please visit:
Zoning – www.hagerstownmd.org

TITLE:
The property is in fee simple and sold free and clear of liens.

TAXES:
Published annual real estate taxes total $20,652, including Washington County taxes of approximately $9,857 and City of Hagerstown taxes of $10,794, based on a full value assessment of $1,077,300.

ADDITIONAL INFORMATION:
Please complete the Waiver and Confidentiality agreement to receive additional information about the site, ESA, surrounding development and entitlements.

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

Live Auction Bidders – a $75,000 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 $75,000 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. 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% or $5,000 buyer’s premium, whichever is greater, will be added to the final bid price.