"Federal Hill Area"

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MIXED-USE CORNER PROPERTY
Tavern, Warehouse & Apartment
7 Day Liquor License & FFE

Sale On Premises:
1741 LIGHT STREET
a/k/a 1739-1741 Light Street
Corner E. Barney Street
Baltimore City, MD 21230

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. Some interior photos have been digitally staged for marketing purposes. Fireplaces are not known to be operational.

LOCATION:
1741 Light Street is located in the Riverside neighborhood in South Baltimore. The property is roughly equidistant from Federal Hill proper and the rapidly rising Port Covington development. Formerly known as the “Lighthouse Inn” for a number of years, and the “Homeslyce Pizza Bar” for about 10 years, the property is nestled among the orderly Federalist style rowhomes for which the neighborhood is known. In addition to the immediately surrounding rowhomes, a number of large apartment complexes are nearby along Wells Street and Hanover Street, in addition to the vast number of additional units that have been and are being constructed throughout the South Baltimore area. Riverside Park is about three blocks east. Access to major highways, including I-95, MD-295 and I-895 is excellent.

The vibrant and expanding community would be an excellent home to tavern or restaurant users of all types. The overall investment potential from three prospective income streams makes the site an attractive acquisition for investors of varied perspectives. That a buyer can occupy one space and lease the balance of the building further enhances the overall attraction of the assemblage. The auction provides an opportunity to purchase a site with ever-growing potential.

For more information about the area, please visit:
Neighborhoods – livebaltimore.com
Federal Hill Neighborhood Guide – baltimore.org
Federal Hill Main Street – fedhill.org
Port Covington – www.pc.city

SITE:
Lot size – 0.083 acre, more or less, according to public tax records

The property fronts 29′ along Light Street, 30′ on Westphal Place and roughly 120′ along E. Barney Street.

Plat

Roll-up door with access from Westphal Place. Ample opportunities for signage.

ZONING:
R-8 Residential – Nonconforming Use

For more information about Baltimore City zoning, please visit:
Zoning – dhcd.baltimorecity.gov

IMPROVEMENTS:
The property is improved by two buildings, a two story freestanding tavern building with second floor apartment, and a two story warehouse building. According to public tax records, the structures were built in 1900 and contain 7,338 square feet of gross building area. Actual square footage is believed to be larger, as further described below.

Tavern & Apartment –

• Two story brick free-standing building arranged as a bar and restaurant on the first floor and basement, and a two bedroom apartment on the second floor. Flat built-up roof. Vinyl-clad replacement windows. Two electric meters, and one gas line (no meter).
• The tavern area is estimated to contain 2,400 square feet of gross area on the first floor, and 1,450 square feet of basement space. Arranged for a large, open bar and seating area, two powder rooms, large kitchen area, prep/expediting area and storage space. Two electric heat pumps and CAC. Most equipment has been removed. Basement is unfinished, and used predominantly for storage and utilities.
• The apartment is estimated to contain about 1,900 interior square feet and an approximately 400 square foot patio. Second story apartment unit contains large open living room, dining area with island, kitchen, full bathroom, two bedrooms and utility/laundry room. The tenant is currently paying $1,500/month on a lease through 5/31/23. Lead Cert

Warehouse –

• Estimated to contain approximately 2,500 square feet of gross building area. Flat built-up roof. Roll-up door and separate exterior entrance. Overhead heater, window AC. Electric meter.
• The building is arranged for a production and storage area on the first floor, with a large walk-in (refrigerator/freezer) box, and office space on the second floor.

ADDITIONAL INFORMATION:
Please complete a Waiver and Confidentiality Agreement form to view the lease.

TITLE:
In fee simple; sold free and clear of all liens.

TAXES:
Current annual real estate taxes are $8,577.01, based on a full value tax assessment of $363,433.

LIQUOR LICENSE:
LBD-7 – 7 day beer, wine and liquor license. 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.

FURNITURE, FIXTURES AND EQUIPMENT:
The property contains an array of furniture, fixtures and equipment, including beverage refrigerators (stand-up and under counter), stools, tables, shelves and other miscellaneous items.

MANNER OF SALE:
The real estate, license, furniture, fixtures and equipment will be sold as an entirety only.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $50,000 deposit or 10% deposit, whichever is greater, payable by cashier’s check or wire, 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, rent and 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. Security deposits, if any, shall be adjusted at the time of settlement. The property will be sold in “AS IS” condition, and subject to the existing leases of the tenants in place, easements, agreements, restrictions or covenants of record affecting same, if any. The Property will be sold subject to Baltimore City violation notices, if any. The purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law. Purchaser assumes the risk of loss from the date of contract forward. 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.

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