"Essex"

 REAL ESTATE AUCTION 

– $100,000 Suggested Opening Bid –

MIXED-USE
COMMERCIAL BUILDING
Office/Retail & Apartment
Zoned BL-CSI ★ On-Site Parking

Sale On Premises
217 EASTERN BOULEVARD
a/k/a 217 Eastern Avenue
Baltimore County, MD 21221

THURSDAY, OCTOBER 4, 2018
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.

LOCATION:
217 Eastern Boulevard is located in the heart of the Essex business district, on the south side of Eastern Boulevard, between the Back River Bridge and Mace Avenue. Surrounding properties are primarily occupied by offices, retail stores, automobile service facilities and restaurants. Eastern Boulevard is a heavily traveled commercial roadway, with average daily traffic of 28,421 vehicles, according to the Maryland Department of Transportation. The property is equidistant to the Baltimore Beltway (I-695) and MD-702, with good access to I-95 and I-895. Residential neighborhoods are within walking distance. The property has a pole sign with excellent visibility from eastbound and westbound Eastern Boulevard.

SITE:
Rectangular lot 50′ x 150′, comprising 7,500 square feet or 0.17 acre
Zoning BL-CSI, Local Business
All public utilities
Asphalt driveway and parking for approximately six cars with additional parking potential in the rear.
7′ high x 6′ wide electric pole sign

IMPROVEMENTS:
Two Story Converted Retail and Apartment Building. According to public tax records, the building was constructed in 1920 and contains 1,128 square feet, plus basement.

Exterior – aluminum siding, vinyl-clad double-hung windows, composition shingle roof, four front show windows, entry porch

First Floor – Office/Retail area (currently vacant) with florescent lighting, drywall and carpeting, private office, half-bath, security alarm and cameras

Second Floor – Bi-Level Apartment (lead-free, currently rented for $850/month under a one-year lease ending 8/31/2019), first level has a carpeted living room and kitchen with wood cabinets, vinyl floor, electric range/oven, refrigerator, washer and dryer, second floor has two carpeted bedrooms, full bath with vinyl floor and fiberglass tub enclosure, family room

Basement – Unfinished, outside entrance

Mechanical – two Trane gas forced air furnaces with central air conditioning (updated in 2012), two water heaters, three electric meters, two gas meters, two sump pumps

TITLE:
The property is in fee simple and sold free and clear of liens. Baltimore County Deed Book 31688, Page 297.

TAXES:
Published annual real estate taxes are $2,226.32, based on a full value assessment of $135,967.

SUMMARY TERMS OF SALE:
A $10,000 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 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, 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 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. Time is of the essence.

No buyer’s premium.