"Annapolis"

 REAL ESTATE AUCTION 

– $500,000 Suggested Opening Bid –

COMMERCIAL PROPERTY
Redevelopment Potential

Comprising
AUTOMOTIVE SHOP BUILDING
Former AAMCO Transmission Shop
5,103± Square Feet ◆ 6 Service Bays

Sale On Premises
906 WEST STREET
MD-450, West of Spa Road/Taylor Avenue
Anne Arundel County, MD 21401

WEDNESDAY, JUNE 12, 2019
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.

LOCATION:
906 West Street is located in the heart of Annapolis, less than one mile west of Church Circle. West Street (MD-450) is the main east-west access into the historic State Capital and the community’s commercial district. Surrounding land uses include office buildings, restaurants, shopping centers and retail stores, bounded by residential development.

SITE:
The lot comprises 14,288 square feet of land, fronting 80′ along the north side of West Street, by a depth of 171′ (see plat). The property is level and asphalt paved.

All public utilities are in the site.

ZONING:
PM-Professional Mixed Office District, permitted non-conforming use for automotive repair.

IMPROVEMENTS:
Concrete block automotive shop building, comprising 5,103 square feet of gross building area, according to public tax records.

Exterior
Painted concrete block
Built-up roof
Drive-in door
2-pedestrian doors

Interior
Reception area
Shop – 6 bays with lifts
Office
2-rest rooms
Loft with storage room

Mechanical
Single and three-phase electrical service
Gas forced air heat and central air in office and reception area
Overhead gas space heaters in shop

TITLE:
The property is in fee simple and sold free and clear of liens. Anne Arundel County Deed Book 21902, Page 53.

TAXES:
Published annual real estate taxes are $9,237, based on a full value assessment of $664,067.

ATTRACTIVE FINANCING IS AVAILABLE:
$150,000 down, 4.99% interest, 25 year amortization, 3 year maturity. Purchasers are under no obligation to use the financing and may get their own or pay cash.

SUMMARY TERMS OF SALE:
Please see 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 8% 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.

No buyer’s premium.