"Brooklyn Park - Anne Arundel County"

 REAL ESTATE AUCTION 

Suggested Starting Bid: $50,000

FREESTANDING
COMMERCIAL BUILDING
Zoned C-2: Commercial

Sale On Premises
4703 RITCHIE HIGHWAY
Near Audrey Avenue
Anne Arundel County, MD 21225

TUESDAY, MARCH 10, 2020
AT 11:00 A.M.

NOTE: The information contained herein has been obtained from sources deemed reliable and is believed to be substantially 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:
4703 Ritchie Highway is located in the Brooklyn Park area of northern Anne Arundel County. The surrounding subdivision is known as Brooklyn Heights. Ritchie Highway (MD-2) between I-895 and the Baltimore Beltway (I-695) is a major business and commuter corridor through this portion of Anne Arundel County. The high exposure site provides great opportunity for customer access and signage. According to Maryland State Highway Administration statistics, the annual average daily traffic count is 23,661 along the corridor of Ritchie Highway in front of the property. Surrounding businesses include restaurants, medical and neighborhood services, automotive businesses and an array of retail strips and individual storefronts.

For more information about the area, please visit:
Anne Arundel County – www.aacounty.org

For more information about traffic statistics nearby, please visit:
GIS Traffic Count Data – www.roads.maryland.gov

SITE:
Lot size: 50′ x 130′, comprising 6,500 square feet or 0.149 acre, more or less. Plat

Front concrete parking area for 4+ vehicles. Rear gravel parking area for 4 vehicles. Additional potential parking inside building, in rear garage structure and along sides of building.

50′ frontage on Ritchie Highway

Large curb cut on Ritchie Highway

ZONING:
Zoned C-2: Commercial Office District. According to Anne Arundel County Summary of Zoning Districts, “This District is generally intended for office buildings. 50% of the floor area may be for a limited number of auxiliary commercial uses that typically support the office use. Restaurants are permitted as a stand-alone use. Minimum lot size is 20,000 square feet. Maximum lot coverage by structures and parking is 80%. Maximum Floor Area Ratio is 1.0 to 2.0 based on mix of uses. Maximum height is 60 feet based on minimum setbacks and can increase indefinitely provided setbacks are increased as per formula.”

For more information about zoning, please visit: Zoning Division – www.aacounty.orgwww.aacounty.org

Zoning Map

IMPROVEMENTS:
Freestanding masonry building – constructed in 1930 and containing 2,100 square feet of gross building area, according to public tax records. Gross square footage believed to be approximately 2,500 square feet including rear, frame garage structure. Features include storefront facade, two rear facing drive-in bays with roll-up doors, flat built up roof and 200 amp. electrical service. Ceiling heights 8-11′. Clear span area 12-14′. Needs full renovation.

TITLE:
In fee simple; being sold free and clear of all liens.

TAXES:
Published current annual real estate taxes are $3,378.32 based on a full value assessment of $276,700.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $7,500 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 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