Corner Liquor Store

PUBLIC AUCTION

Three Story Building:
CORNER LIQUOR STORE
WITH 3 SHELL APARTMENTS
&
★ 6-Day Beer, Wine & Liquor License ★

Sale On Premises
551 N. FULTON AVENUE
Corner Edmondson Avenue
Harlem Park, Baltimore City, MD 21223

TUESDAY, MAY 8, 2018
AT 11:00 A.M.

– Suggested Opening Bid: $40,000 –

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:
551 N. Fulton Avenue is located in the Harlem Park neighborhood in west Baltimore City. Surrounding neighborhoods include Poppleton, Upton, Midtown-Edmondson and Sandtown. Fulton and Edmondson Avenues are well traveled thoroughfares in and out of the area, and the property sits approximately 5 blocks from the West Baltimore MARC station, providing a strong potential customer base through the proximate corridor. According to State Highway Administration GIS Traffic Count Map, approximately 17,630 cars per weekday travel along this segment of N. Fulton Avenue, and 11,094 cars per weekday along this segment of Edmondson Avenue (annual averages). The auction represents an opportunity to buy a building and liquor license in a location with ample exposure.

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

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

SITE:
Lot – 16’8″ x 89’7″, more or less

All public utilities

Zoning:
R-8 Residential – current approved use for liquor store and one dwelling unit.

Buyer’s are encouraged to perform their own due dilligence with respect to ongoing use as a liquor store. Inquiry should be made with both Baltimore City Zoning and the Baltimore City Liquor Board. 

Baltimore City Zoning: http://www.baltimorehousing.org/zoning

IMPROVEMENTS:
Three story brick end-of-group storefront building – according to public tax records, the building was constructed in 1900. The property features a commercial entry with stair and ramp, separate exterior entrance to upper units, interior and exterior access to lower level storage room, good exposure along Fulton Avenue and Edmondson Avenue. The first floor is arranged for a liquor store, with security enclosure, several standup coolers, storage shelving and laminate floor. Lower level, inventory storage and utility space. Upper floors are arranged for three apartments. Two apartments are partially renovated, one apartment is in shell condition.

ANNUAL REAL ESTATE TAXES:
Published annual real estate taxes are $944.

TITLE:
Subject to an annual $104 ground rent (due in semi-annual installments on 2/1 & 8/1); and is being sold free and clear of all liens.

LIQUOR LICENSE:
Class “A” – Beer, Wine & Liquor License – Off Sale package goods, no on-premises consumption – 6 days, 6:00 a.m.- Midnight. No Sunday sales except Sundays between Thanksgiving Day and New Year’s Day, upon issuance of a special license for each Sunday.

The transfer of this liquor license is subject to the approval of the Board of Liquor License Commissioners for Baltimore City as in the case of an original application, and it shall be the sole responsibility of the purchaser to obtain said approval. The license is sold free and clear of liens.

Please complete the Waiver & Confidentiality Agreement to obtain a copy of liquor license.

For more information about Baltimore City Liquor Licenses, please visit:
https://llb.baltimorecity.gov/

Manner & Terms of Sale

• First Offering – Real Estate will be offered and the bid reserved. Deposit $2,500.
• Second Offering – License & Equipment will be offered and the bid reserved. Deposit $2,500.
• Third Offering – The real estate, license and equipment will be offered as an entirety. Deposit $5,000.

TERMS OF SALE (Real Estate): Deposit as stated above, payable by cashier’s check, will be required of the Purchaser at time and place of sale. The deposit shall be increased to 10% (25% if sold as an entirety with the liquor license) 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. All adjustments, including taxes, rents, 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 settlement 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. A 10% buyer’s premium will be added to the final bid price.

TERMS OF SALE (License & Equipment): Deposit as stated above, payable by cashier’s check, will be required of the Purchaser at time and place of sale. Balance to be paid in full within 24 hours at the Auctioneer’s office. Time is of the essence. A 10% buyer’s premium will be added to the final bid price.