"Charles Village Area - Old Goucher College"

 REAL ESTATE AUCTION 

$225,000 Suggested Opening Bid

Brick Freestanding
COMMERCIAL BUILDING
5,772 Sq. Ft. GBA ◆ Parking Lot
– Zoned C-1 – Commercial –

Sale On Premises
2418 SAINT PAUL STREET
Baltimore City, MD 21218

WEDNESDAY, JANUARY 17, 2018
AT 12:00 NOON

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:
2418 St. Paul Street is located in the Old Goucher College neighborhood, and is part of the Old Goucher College National Historic District. The surrounding area is referred to generally as Charles Village, the formal boundaries of which are situated a short distance north of the property. The Remington neighborhood bounds the west side of Old Goucher College, Barclay bounds the east side, Charles North and Station North Arts & Entertainment Districts bound the south side. Significant development is going on in the surrounding area, including new arts and entertainment buildings, new education buildings, mixed-use and retail projects, multi-unit development and new home construction. The central location offers excellent proximity to both Downtown Baltimore, Johns Hopkins University and the Jones Falls Expressway (I-83).

Surrounding properties include a grocery store, street retail, restaurants, apartments, single family homes and religious buildings. The building features excellent exposure along southbound St. Paul Street. According to State Highway Administration GIS Traffic Count Map, approximately 13,212 cars per weekday travel along this segment of St. Paul Street. The building may be suitable for single user occupancy, multiple tenancy or residential conversion.

For more information, please see:
https://livebaltimore.com/neighborhoods/old-goucher/
&
http://www.stationnorth.org/

For more information about traffic statistics nearby, please visit:
http://www.roads.maryland.gov/index.aspx?PageId=838

SITE:
Rectangular lot – 67′ x 90′, comprising 0.14 acre, more or less

Asphalt paved parking lot for 8-10 vehicles. Partially fenced.

Curb cut on St. Paul Street

Signs on north facing side of building, visible for southbound St. Paul Street traffic

All public utilities

Zoning: C-1, Commercial. For more information, see the Baltimore City Zoning Code.

IMPROVEMENTS:
Three Story Brick Free-Standing Building – the building was constructed in 1900, contains 4,104 square feet on the upper three floors and 1,368 square feet of basement space at grade in the rear.

Exterior
Brick exterior
Flat, built-up roof
Decorative cornice
Vinyl clad replacement windows
Oriel
Steel fire escape
Front and rear entrances

Interior
The building is currently arranged for office space. Finishes include plaster, drywall, carpet, drop ceiling with some architectural detail, including wood handrail and balustrade. The interior is arranged for several offices, 4 powder rooms, utility space, gas forced air heat and central air conditioning. The building needs updating and cosmetic repairs.

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

TAXES:
Published annual real estate taxes are $7,245.20 based on a full value assessment of $307,000.

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 on or before Friday, March 2, 2018. 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 except where otherwise mandated by local, State or Federal law. Time is of the essence.  A 5% buyer’s premium to be added to the final bid price.