Featuring Live & Online Simulcast Bidding
– $50,000 Opening Bid –
Enterprise Zone ✦ High Traffic Count
2122 E. MONUMENT STREET
Between N Chester St. & N. Collington Ave.
Baltimore City, MD 21205
Online Bidding Opens
MONDAY, JUNE 27, 2022
Live Onsite Auction
WEDNESDAY, JUNE 29, 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.
2122 E. Monument Street is located in the Middle East neighborhood in East Baltimore. The immediate surrounding area comprises a commercial corridor along E. Monument Street extending from Johns Hopkins Hospital (East Baltimore) through roughly N. Milton Avenue. The property is also located within an Enterprise Zone, as well as the East Monument National Historic District, providing an array of tax credit opportunities.
The area is a bustling commercial thoroughfare anchored by Johns Hopkins, a number of associated entities and the Northeast Market. An eclectic variety of stores, restaurants, neighborhood services, religious and educational facilities further enhance the cumulative attraction of the area. In conjunction with those working and residing in the area, there is a very healthy traffic count of more than 11,000 cars per day (AADT) passing by the site.
The building itself has a long history in the neighborhood, having been operated as an optician for a few decades prior to becoming a retail storefront in more recent years. The combination of being located in a high traffic destination location and ongoing development in the area, along with a standing history in the community, the auction affords an opportunity for business owners and investors of all types.
Lot size – 13’6″ x 90′, more or less. Plat
One car off-street parking (accessible by 9′ rear alley)
All public utilities
According to zoning district summaries, the C-1 zone comprises “Commercial clusters or pedestrian-oriented corridors of commercial uses that serve the immediate neighborhood. Ensures compatibility between neighboring residential and commercial uses.
For more information about Baltimore City zoning, please visit:
Zoning – dhcd.baltimorecity.gov
Three story brick in-line storefront building – constructed in 1900 and containing 3,198 square feet of gross building area, according to public tax records. The building is arranged as a retail storefront on the first floor, offices on the second and third, and unfinished basement. The current owner has recently installed a ductless split system for heating and cooling. The building requires renovation.
In fee simple; sold free and clear of liens.
Published annual real estate taxes are approximately $2,538.59, based on a full value assessment of $107,567.
SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
Live Auction Bidders – a $5,000 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.
Online Auction Bidders – a 10% deposit, payable by cashier’s check or wire transfer, will be required of the purchaser by 4:00 P.M. on the day of auction, 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, ground rent, 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 Property will be sold subject to Baltimore City violation notices, if any. 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 will be added to the final bid price.