Oldtown – HUB Zone
CORNER INDUSTRIAL SITE
0.609± Acre ◆ Zoned I-MU
33,200± SF Buildings – Raze or Rehabilitate
900-924 E. MONUMENT STREET
& 709 HARFORD AVENUE
Baltimore, MD 21202
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.
The properties are located in the Oldtown area of downtown Baltimore. The surrounding neighborhood is a mixture of residential, commercial and industrial land uses. The buildings are located across the street from the Old Town Mall site which is part of the $1 billion redevelopment of more than 200 acres in the community of East Baltimore. According to the Baltimore Business Journal, “The work would include adding 16,000 square feet of retail and 51 market-rate and affordable apartment units, wide pedestrian promenades and establishment of a small business incubator to help spark opportunity. Future phases of the Oldtown project include the addition of a hotel and grocery store.” The property is located in a HUBZone, providing lucrative tax incentives for business and property owners as well as providing access to more federal contracting opportunities. Major roadways, including I-83 and Route 40, are within a half mile of the site.
For more information:
HUB Zones – baltimoredevelopment.com
Neighborhoods – livebaltimore.com
Baltimore Business Journal Article – www.bizjournals.com
Three adjoining lots, comprising approximately 26,530 square feet or 0.609 acres. Plat
Site fronts approximately 190′ on E. Monument Street and 207′ on Harford Avenue
All public utilities are available
Industrial – Mixed Use (I-MU): Primarily for existing industrial buildings and permits both light industrial uses and a variety of nonindustrial uses, such as housing and commercial land uses, to create a mixed-use environment.
Two story brick and concrete block industrial building, built in 1920, containing 33,222 square feet of gross building area, according to public tax records. The building has concrete floors and single/three phase electrical service and had an elevator shaft and sprinkler system. The building has substantial fire damage and needs to be renovated or razed.
The property is in fee simple and sold free and clear of liens. Baltimore City Deed Liber MB 20521, folio 100.
Published annual real estate taxes for 2020-2021 are:
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SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A deposit of 10% of the purchase price, payable by cashier’s check or wire transfer, will be required of the purchaser. 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, and subject to easements, agreements, restrictions or covenants of record affecting same, if any, and subject to Baltimore City housing and/or zoning violations. 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. A 5% buyer’s premium will be added to the final bid price.