"BWI Business District"

Live & Online Simulcast Bidding
$1,000,000 Opening Bid

INDUSTRIAL PROPERTY
Warehouse & Office Building
16,375± S.F. ◆ Zoned W1
Situated On
4.39± ACRES

Known As
7177 RIDGE ROAD
Hanover, Anne Arundel County, MD 21076

Online Bidding Opens
MONDAY, SEPTEMBER 19, 2022

Live Onsite Auction
THURSDAY, SEPTEMBER 22, 2022
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:
7177 Ridge Road is located less than one mile west of BWI Airport and MD-170, east of the Baltimore-Washington Parkway (MD-295), north of MD-100 and south of I-195. The site has excellent highway linkage. The Parking Spot, a large self-parking facility, is opposite the site. Adjacent property is owned by the State of Maryland Aviation Administration. The property is convenient to Ft. Meade, NSA, Baltimore, Columbia and Washington, DC. Industrial, logistical and airport services comprise the majority of land uses in the surrounding area.

SITE:
4.3876 acres of land, fronting 298.40 feet along the easternmost side of Ridge Road, by a depth of approximately 868 feet. The parcel is irregularly shaped. A variable width non-exclusive access and utility easement bounds the northern property line to provide access to a cellular tower facility which is not part of the auction property.

Utilities – public water and sewer, natural gas, electricity, telephone, internet

Bituminous paved parking area

Partially fenced yard

ZONING:
W1, Light Industrial. As defined by Anne Arundel County, “this District is generally for those “clean” industrial uses with minimal nuisance characteristics in a landscaped park-like setting. Typical uses may include offices, research and development laboratories, light manufacturing including assembly. Support uses such as office supply stores, restaurants, and hotels/motels are also allowed. Minimum lot size is 40,000 square feet. Maximum lot coverage by structures and parking is 75%. Maximum height is 90 feet based on minimum setbacks and can increase indefinitely provided setbacks are increased as per formula.”

IMPROVEMENTS:
Masonry and Metal Siding Manufacturing, Office & Warehouse Building, constructed in various sections, on concrete slabs at grade, comprising approximately 16,375 square feet of gross building area.

• Main Building, circa 1987, is approximately 10,000 square feet, has 20′-25′ ceiling heights, 4-room mezzanine office, overhead air conditioning and gas space heaters, locker room
• Warehouse Buildings, circa 1940s and 1950s
• Paneled Office Space, central air, gas forced air heat, kitchenette
• Multiple Rest Rooms
• 3–Drive-in Loading Doors
• Rubber Membrane and Composition Shingle Roofs
• Heavy Single & 3-Phase Electrical Service
• The building was used for precision metal manufacturing and was occupied by a single entity. It could easily be configured for multi-tenant use.

TITLE:
The property is in fee simple and sold free and clear of liens. Anne Arundel County Deed Book RPD 27142, Page 339 and RPD 11552, Page 733; subject to an Amended and Restated Easement Agreement, recorded in Book SAP 37222, Page 305.

TAXES:
Published annual real estate taxes are $22,074, based on a full value assessment of $2,079,733.

ADDITIONAL INFORMATION:
Please complete the Waiver and Confidentiality Agreement to receive:

• As-Built Survey
• Phase I Environmental Site Assessment

SUMMARY TERMS OF SALE:
Please see the Contract of Sale for complete terms.

On-Site Bidders – a $100,000 deposit, payable by cashier’s check, will be required of the Purchaser at time and place of sale.

Online Bidders – a $100,000 deposit, by cashier’s check or wire transfer, is required at the Auctioneer’s Office, prior to the start of the live auction. The deposit will be returned within 24 hours following the auction to non-winning bidders. Deposit Escrow Agreement

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, 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.

Auction conducted in collaboration with AGM Commercial Real Estate Advisors