"Fells Point Waterfront"

This Auction has been CANCELED.

$100,000 Opening Bid

FELLS POINT WATERFRONT
BAR & RESTAURANT BUSINESS

Known As:
“BAJA TAP”
901 S. Bond Street,
Baltimore, Maryland 21231

Sale Comprises:
LEASE, 7 DAY LIQUOR LICENSE,
FURNITURE, FIXTURES & EQUIPMENT

CANCELED

Offer Submission Deadline:
WEDNESDAY, OCTOBER 16, 2024
AT 3:00 P.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.

GENERAL INFORMATION:
A.J. Billig Real Estate Auctioneers and BCV Commercial Realty are pleased to offer a fully built-out turn-key bar and restaurant operation in Baltimore’s premier waterfront location in Fells Point. The sale comprises the tenant’s leasehold interest in 901 S. Bond Street, all existing furniture, fixtures, equipment and the existing 7-Day Class B Beer, Wine & Liquor License. The lease has approximately 9 years remaining with an additional two 5-year options. The premises contains 7,710 interior square feet and 2,456 square feet of patio space, according to the lease, with a full kitchen, capacity of 260 patrons in the dining areas and 22 seats at the bar. The sale is being conducted as a sealed-bid auction, with offers to be submitted by 3:00 P.M. on Wednesday, October 16, 2024. Please complete the Confidentiality Agreement below to receive a copy of the lease and additional documents.

LOCATION:
Baja Tap is located in Fells Point within the Bond Street Wharf waterfront commercial development located at 901 S. Bond Street in Baltimore. Bond Street Wharf is a 6-story Class-A building featuring both retail and office tenants in a very high foot traffic location. Fells Point is among Baltimore’s most iconic historic and cultural locations. As one of Baltimore’s oldest neighborhoods, Fells Point’s rich maritime history continues into the current era as the home of museums, retail shopping, entertainment venues, restaurants, bars, hotels, a variety of activities, long-term residents and new visitors. The restaurant itself sits at the southwestern corner of the neighborhood at the corner of cobblestoned Thames Street and S. Bond Street. Harbor Point and Harbor East are immediately west and northwest, respectively, and the Pendry Hotel is approximately one block east. A number of major employers, including T. Rowe Price and Morgan Stanley, are within a couple of blocks. World renowned Johns Hopkins Hospital is a little over one mile north.

For more information about the area, please visit:
Fells Point – livebaltimore.com
Fells Point – baltimore.org
Fells Point Main Street – www.fellspointmainstreet.org

BUSINESS INFORMATION:
Baja Tap is an operating bar and restaurant business with Baja California inspired modern fare. The waterfront business covers 7,710 square feet of interior space and 2,456 square feet of basement space. Capacity is stated to be a total of 282 patrons.

Current owners spent in excess of $2,000,000 building out the space, which features a full service kitchen, open concept dining areas and full bar. The property is occupied under a triple net lease. The initial lease term runs through January of 2033, with two 5-year renewal terms thereafter. The base rent for the current lease year is $26,985/month plus property taxes and pass-through expenses estimated to be $5,773/month. Seller provided financial data indicates gross weekly sales of $40,000. The auction includes a 7-Day Class B Beer, Wine and Liquor License, and all existing furniture, fixtures and equipment. Any leased items may be excluded, subject to vendor arrangements, and will be stated in advance of the auction.

For more information, please visit: Baltimore, MD Location – www.bajatapbar.com

ADDITIONAL INFORMATION:
Please complete the Waiver and Confidentiality agreement to receive the lease and marketing flyers.

SUMMARY TERMS OF SALE:
The following are summary terms for the offer submission process. Any offers submitted will be subject to both seller acceptance and Landlord approval. A formal assignment shall be prepared in conjunction with counsel for both buyer and seller as relating to the seller’s leasehold interest, and a bill of sale with respect to all fixtures, furniture, equipment and the existing liquor license.

A $10,000 or 10% deposit, whichever is greater, payable by cashier’s check or wire, will be required of the Purchaser within 24 hours of seller acceptance of Purchaser’s offer. The deposit shall be increased to 25% of the purchase price at the time of Landlord approval of the lease assignment. Closing to occur within 30 days thereafter. If the Landlord declines the assignment of the lease, purchaser’s deposit shall be refunded, less $2,500, within 2 business days of Landlord notification as to rejection. Said $2,500 shall be retained by Auctioneer as a fee for facilitating the transaction and disbursed among Auctioneer, Seller and BCV as agreed among those parties. The transfer of this liquor license is subject to the approval of the Board of Liquor License Commissioners of Baltimore as in the case of an original application, and it shall be the sole responsibility of the purchaser to obtain said approval.

These terms may be altered or amended in advance of the offer submission date. Please verify offer terms prior to submitting an offer. Contact listing broker with any questions.