"Franklin Square - Enterprise Zone"

This Auction has been CANCELED.
Sold prior to the auction.

ONLINE REAL ESTATE AUCTION

TWO ADJOINING
COMMERCIAL BUILDINGS
~ Contains 2 Apartments and Commercial Space ~

Known As:
1402-1404 W. BALTIMORE STREET
Near N. Calhoun Street
Baltimore City, MD 21223

– CANCELED –

BIDDING OPEN:
FRIDAY, APRIL 23, 2021

BIDDING CLOSE:
TUESDAY, APRIL 27, 2021 AT 12:30 P.M.

– Starting Bid: $50,000 –

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:
1402-1404 W. Baltimore Street is located in the Franklin Square neighborhood of west Baltimore City. Surrounding neighborhoods include Hollins Market, Carrollton Ridge and Boyd-Booth. Located on Baltimore Street, one of Baltimore’s main east/west thoroughfares, the property boasts significant foot and vehicle traffic. Also on W. Baltimore Street are shops, restaurants, cafes and many other retail establishments. The surrounding area is a mixture of commercial and residential land uses. Renovation of existing properties is taking place within the neighborhood bolstered by the tax incentives and deferrals provided by the Maryland Enterprise Zone. Storefront users and tenants have access to bus routes located immediately in front of the property and the Baltimore Metro within a mile. Major employers in the area include Grace Medical Center and University of Maryland Medical Center.

For more information, please see:
Neighborhoods – livebaltimore.com

SITE:
Lot – 23’2″ x 90′, more or less. Plat

All public utilities

ZONING:
C-1 Commercial, approved office space. According to the Zoning webpages, C-1 zoning comprises “commercial clusters or pedestrian-oriented corridors of commercial uses that serve the immediate neighborhood.”

The property is within an Enterprise Zone, offering an array of incentives for business owners and developers. For more information click the link below:
Enterprise Zone – baltimoredevelopment.com

TransForm Baltimore Zoning Code – planning.baltimorecity.gov

Enterprise Zone Map

IMPROVEMENTS:
Two adjoining three-story buildings arranged for commercial space and 2 apartment units.  According to public tax records, the property was built in 1920 and contains 2,070 square feet of above grade square footage. The first floor comprises of front commercial space with two offices, restrooms and storage space. The second and third floor are interconnected and contain two apartments. The building needs cosmetic repairs.

TITLE:
In fee simple; sold free and clear of liens. Baltimore City Deed Book Liber MB 16688, folio 446.

TAXES:
Published annual real estate taxes are $1,727.52, based on a full value assessment of $73,200.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $5,000 deposit, or ten percent (10%) of the Purchase Price (whichever is greater), in cash or cashier’s check to be delivered to the Auctioneer’s office at 6500 Falls Road, Baltimore, MD 21209, or sent by wire transfer, by 4:30 P.M. on Tuesday, April 27, 2021. 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 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. The Property will be sold in “AS IS” condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any. The Property will be sold subject to Baltimore City violation notices, if any. 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. 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.