"Bayview - At Johns Hopkins Hospital Entrance"

 REAL ESTATE AUCTION   

– $200,000 Suggested Opening Bid – 

 At Johns Hopkins Hospital Entrance 

 Income Producing 
 BUSINESS PROPERTY 

Sale On Premises – Corner 
EASTERN AVENUE 
& ANGLESEA STREET 
459 Anglesea Street, Baltimore, MD 21224 

WEDNESDAY, MARCH 28, 2018
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:
The property is situated at the northeast corner of the 5800 block of Eastern Avenue and Anglesea Street in the Bayview neighborhood of east Baltimore, at the entrance to Johns Hopkins Bayview Hospital. The site is opposite the PEMCO redevelopment project, which is planned to feature two hotels, a grocery store and 200 residences. The property is also opposite the Southeast District Police Station and adjacent Fire Station.

Bayview is located east of Canton and Greektown in a rapidly redeveloping area. The property is near entrances to I-895 and I-95. Public bus transportation is at the door. A traffic signal is located at the corner of Eastern and Anglesea. The building has excellent visibility from eastbound and westbound Eastern Avenue.

SITE:
Rectangular lot, fronting 100′ along Eastern Avenue by 16’10” along Anglesea Street
Zoning C-1, commercial
All public utilities

BUILDING:
Two Story Brick End-of-Group Building, constructed in 1926, containing 2,023 square feet of gross building area and 765 square feet of basement space, according to public tax records. The building exterior has a brick facade, commercial awnings over show windows, built-up roof, four ground-level entrances on Eastern Avenue and separate apartment entrance.

• Renovated in 2010 with new HVAC, plumbing and roof
• Liquor Store – owner occupied, storage basement, walk-in cooler, shelving, refrigerated beverage cases, cash register, service counter, rest room
• Restaurant – rented for $1,500/month (no lease), commercial kitchen, dining room
• Second Floor Apartment – rented for $950/month (no lease), 2 bedrooms and bath
• Gas forced air heat, central air conditioning, 200 amp. electric, 40-gallon electric water heater

LIQUOR LICENSE:
Class A Package Goods License, permits sales Monday through Saturday for off-premises consumption. The transfer of the 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. The license is sold free and clear of liens.

TITLE:
The property is sold free and clear of liens, subject to an annual $72 ground rent. Baltimore City Deed Book 6830, Page 427.

TAXES:
Published annual real estate taxes are $3,402, based on a full value assessment of $144,133.

TERMS OF SALE:
A $20,000 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. All adjustments, including taxes, ground rent, rents, 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 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 except where otherwise mandated by local, State or Federal law. Time is of the essence. A 5% buyers premium will be added to the final bid price.