To The Highest Bidder Over $75,000
990± Square Feet – Zoned RO
54 Scott Adam Road – Suite 104
Baltimore County, MD 21030
FRIDAY, SEPTEMBER 25, 2020
TUESDAY, SEPTEMBER 29, 2020 AT 2:00 P.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.
Aspen Mill Professional Building is a three story brick office building, located two blocks east of York Road (MD-45), south of Warren Road and north of Cranbrook Road, in the Cockeysville area of north-central Baltimore County. The site is about 3 miles north of the Baltimore Beltway (I-695) Exit 26 – York Road and less than one mile east of I-83 Exit 18 – Warren Road. MTA light rail service is also one mile west of the site. MTA bus service is within one block of the property.
Cockeysville has excellent proximity to both a strong consumer base and work force. Situated in Baltimore County, north of Towson-Timonium-Lutherville and south of Hunt Valley, te surrounding area is a mixture of shopping centers, freestanding retail buildings, automobile dealerships, professional office buildings, garden apartments and single family homes. York Road is the primary commercial artery in the area. There is a traffic signal with turn lanes at the intersection of York and Scott Adam Roads.
Aspen Mill Professional Building was constructed in 1983, contains approximately 24,000 square feet of gross building area and consists of 18 office condominium units. The all-brick building has an elevator, ample surface parking with exterior lighting, built-up roof, and front and rear entrances. Professionally managed by Pinkard Properties. Monthly condominium fees are $437.
Unit 104 is a ground level professional office suite containing 990 square feet, according to public tax records. Interior finishes include drywall, carpet (reception and office areas), laminate (exam rooms, kitchenette and powder room), and drop ceiling. The unit is arranged for a lobby and reception area with desk and file storage, two private offices, 2 exam rooms, kitchenette and powder room.
In fee simple; sold free and clear of all liens
Published annual real estate taxes are $2,557.07, based on a full value assessment of $148,500.
Purchasers may petition for a reduction in the assessment of their property in conjunction with a purchase price substantially less than the currently assessed value of the property. Purchasers are encouraged to contact the Maryland State Department of Assessments & Taxation concerning the appeals process, and may see the following link for helpful information: Assessment Appeal Process.
SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $7,500 deposit, or ten percent (10%) of the Purchase Price (whichever is greater), in cash or cashier’s check to be delivered to the Auctioneer’s office at 6500 Falls Road, Baltimore, MD 21209, or sent by wire transfer, by Wednesday, September 30, 2020 at 12:00 Noon. 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, condominium fees, 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 the Declaration and By-Laws of the Aspen Mill Professional Condominiums, and 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 rescission under Maryland Condominium law, having received the condominium resale package prior to the auction. 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.
No Buyer’s Premium!
Sale in Cooperation with MacKenzie Commercial Real Estate