Buy It Now: $390,000 - "Butcher's Hill"

BUY IT NOW: $390,000

FREESTANDING
RESTAURANT BUILDING
– Adjoining Castle Street Park –

2031 E. FAIRMOUNT AVENUE
Known As: “The Life of Reilly”
Baltimore City, MD 21231

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:
2031 E. Fairmount Avenue comprises a fully equipped, free-standing building with liquor license nestled in the Butchers Hill neighborhood in Southeast Baltimore City. The building is tucked into Castle Street Park, a quaint neighborhood oasis with a walking trail, mature trees and a playground. Johns Hopkins Hospital is within approximately two blocks, and the recently constructed Jefferson Square at Washington Hill apartment complex is within one block.

Butchers Hill is an eclectic neighborhood, reflecting a variety of home sizes, robust architectural details and excellent proximity to many of the City’s major employers and attractions. Patterson Park is about four blocks southeast, the Baltimore waterfront promenade in fells point is approximately one mile south and Downtown is to the west.

The location provides ample opportunity for regular neighborhood based business, in addition to the potential customer base derived from the high volume of people working and visiting the nearby area. The surrounding green space provides a unique opportunity to take advantage of an environment not typical for restaurants in this part of the City, including some opportunity for outdoor seating.

For more information about the area, please visit:
https://livebaltimore.com/neighborhoods/butchers-hill/

SITE:
Lot size – 15′ x 88’9″, more or less

Frontage on E. Fairmount Avenue, N. Castle Street and Castle Street Park

All public utilities

ZONING:
R-8 – Conditional use for restaurant and tavern

For more information about Baltimore City zoning, please visit:
http://www.baltimorehousing.org/zoning
&
https://planning.baltimorecity.gov/programs/transform-baltimore

IMPROVEMENTS:
Three story freestanding building – constructed in 1949 and containing 3,172 square feet of gross building area, according to public records. The building is arranged as a restaurant and tavern, with two bar areas, three separate dining areas and an office/apartment on the third floor. Features include a fully equipped kitchen, prep station on the second floor, new roof (2017), storefront facade, roof architectural detail and a hand painted mural.

ANNUAL REAL ESTATE TAXES:
Published annual real estate taxes are $8,547.92, based on a full value tax assessment of $362,200.

TITLE:
The property is in fee simple; and is being sold free and clear of all liens.

FIXTURES & EQUIPMENT:
Remaining bar and kitchen equipment are included. Excluded items will be announced on the day of the auction.

LIQUOR LICENSE:
7-Day Beer, Wine & Liquor License (LB)

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.

SUMMARY TERMS OF SALE:
Please refer to the contract of sale for complete terms and conditions. A 10% deposit, payable by cashier’s check, will be required of the Purchaser at time and place of sale. Deposit funds shall be held by A. J. Billig & Co., LLC. Balance to be paid in cash at settlement, which shall take place on or before Tuesday, October 29, 2019. 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.