"Franklin Square"

ONLINE REAL ESTATE AUCTION

MIXED-USE
COMMERCIAL BUILDING
2 Stores ◆ 8 Apartments

Known As
1413-1415
W. BALTIMORE STREET
Baltimore, MD 21223

Bidding Opens
MONDAY, DECEMBER 7, 2020

Bidding Closes
WEDNESDAY, DECEMBER 9, 2020
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:
1413-1415 W. Baltimore Street is located in the Franklin Square neighborhood of west Baltimore, just west of the University of Maryland Downtown Campus and BioPark and east of Bon Secours Hospital. The property is within walking distance of Mt. Clare Junction Shopping Center, Union Square and Hollins Market. The surrounding area is a mixture of commercial and residential land uses. Renovation of existing properties is taking place within the neighborhood.

SITE:
Rectangular lot, fronting 38′ along the south side of W. Baltimore Street, by a depth of 120′, comprising 4,560 square feet of land. Booth Street bounds the property in the rear.

Plat

Zoning C-1, Commercial

Public water, public sewer, gas and electricity are in the site.

A former garage/stable is located in the rear of the building and provides potential for expansion of the existing structure or off-street parking.

IMPROVEMENTS:
Three Story In-Line Storefront Commercial Building, comprising 8,168 square feet of gross building area, according to public tax records. The building is believed to exceed 100 years of age.

Exterior
New rubber roof in 2019
Aluminum double hung windows
Steel fire escapes
Two front store entrances
Separate entrance for apartments
Security gates

Interior
First Floor – Daycare Center, approximately 2,400 sf, rented for $2,600/month
First Floor – Grocery, approximately 400 sf, rented for $500/month
Second Floor – 4 one-bedroom apartments
Third Floor – 4 one-bedroom apartments

Apartments average approximately 600 sf and rentals range from $650-$750/month. On-site manager gets $300/month rent reduction. Three units are vacant. Separate gas and electric meters for each apartment. One water meter. Apartments are plaster and drywall with wood floors. Skylight in hall.

ZONING:
C-1, Commercial

TAXES:
Published annual real estate taxes are $13,090.92, based on a full value assessment of $554,700.

TITLE:
The property is sold free and clear, subject to annual ground rents of $126 and $120, total $226. Baltimore City Deed Book MB 18730, Page 34.

ADDITIONAL INFORMATION:
Please complete the Confidentiality Waiver to receive:
● 2017-2019 Income & Expense Statement
● Copies of Leases
● Copies of MDE Lead Registration Certificates
● Copy of Multiple Dwelling License

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A 10% deposit, payable by cashier’s check or wire transfer, will be required of the purchaser by 4:30 p.m. on the day of sale. 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. Security deposits, if any, will be transferred at settlement. The property will be sold in “AS IS” condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any, subject to housing violation notices, if any, and subject to existing leases. 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 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.