"Annapolis"

$500,000 Suggested Opening Bid

– ANNAPOLIS –
MIXED-USE
COMMERCIAL BUILDING
3,200± SF ◆ Zoned BCE/R3
With Large Paved Lot

Sale On Premises
1989 WEST STREET
Anne Arundel County, MD 21401

WEDNESDAY, SEPTEMBER 16, 2020
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:
1989 West Street (MD-450) is situated one mile west of Downtown Annapolis, between Cinquapin Round Road and Solomons Island Road. The property is less than one-half mile south of US-50/301. The surrounding area is a mixture of retail stores, shopping centers, automotive repair facilities, car dealerships, office buildings and small residential properties. The building has good visibility from eastbound and westbound West Street.

SITE:
The property is comprised of two lots, comprising 8,080 square feet or 0.185 acre. The property divided by a small alleyway. The front portion, approximately 40′ x 106.03′, contains the retail building, and is zoned BCE – business corridor enhancement. The rear paved lot is approximately 40′ x 101.46′ and zoned R3, general residence. For complete details regarding zoning and permitted uses: Annapolis, MD Code of Ordinances – library.municode.com

All public utilities are in the site.

West Street is four lanes at the property with concrete curbing, sidewalks and public street lighting. There are three parking spaces in front of the building, with potential for additional spaces in the rear.

Site Plan

IMPROVEMENTS:
One story brick and block retail building with two story block and vinyl siding addition. According to public tax records, the original structure was built in 1962. The current building comprises approximately 2,128 square feet of first floor retail space and approximately 1,064 square feet on the second floor.

The building has a front glass show window, a built-up roof on the front portion and a composition shingle roof on the rear extension. The first floor is an open, clear-span shell with two rest rooms, gas forced air heat and central air conditioning. The second floor is arranged for an apartment, comprising four rooms and a bath rough-in.

TITLE:
The property is in fee simple and sold free and clear of liens. Anne Arundel County Deed Book RPD 28599, Page 333.

TAX INFORMATION:
Published annual real estate taxes are $8,674, based on a full value assessment of $617,000. Anne Arundel County Tax Account No. 06-000-06930520. Tax Map 51B, Grid 8, Parcel 44.

SUMMARY TERMS OF SALE:
Please refer to the contract of sale for complete terms.
A $50,000 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. 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 agrees to waive the right of inspection for lead paint, as provided under current Federal and State law. 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.

Auction conducted in collaboration with Douglas Commercial