$75,000 Suggested Opening Bid
“Chatham Executive Office Park”
1,187 Sq. Ft. ◆ Subdivision Potential
Sale On Premises
Units 7B & 8B
1410 CRAIN HIGHWAY N.
Off Ritchie Highway near MVA
Anne Arundel County, MD 21061
THURSDAY, AUGUST 6, 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.
Chatham Executive Office Park is located at 1410-1412 Crain Highway North (MD-3), just south of Ritchie Highway (MD 2) and Wellham Avenue. The site is about one-half mile south of the Maryland Motor Vehicle Administration, within walking distance of shopping, dining, banking and automotive services. The site is approximately one mile south of Beltway (I-695) Exit 3 and less than one mile west of MD-10.
The office park is a series of two story vinyl siding buildings, constructed in 1984, with casement windows, composition shingle roofs and separate exterior entrances. Each unit is self-contained. Parking is ample.
The subject office space consists of two, interconnected, second floor condominium units. Unit 7B comprises 703 square feet. Unit 8B comprises 484 square feet. Total 1,187 square feet. The units are accessed by a central stairway with exterior door, but could potentially be subdivided by installing a small partition wall. They are currently arranged as one office suite and will be sold together.
Unit 7B contains a reception area, break room, 3 offices, restroom and utility closet. Unit 8B contains two offices, restroom and utility room. Each side has a separate heat pump/central air conditioning unit (one was replaced in 2019). Interior finishes are drywall, carpeting, vinyl flooring, and recessed lighting. Security alarm.
Monthly condominium fee is $236.90 per unit. The office suite appears clean and well maintained.
Condominium Bylaws & Amendments
Condo Resale Documents
The units are sold free and clear of liens. Anne Arundel County Deed Book RPD No. 29056, Page 001.
Published annual real estate taxes are –
|Unit 7B||$ 678.56|
SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $7,500 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, condominium fees, 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, as well as the Master Deed and By-Laws of Manor House Joint Venture, Chatham Development Corporation and Divinity Cove Service Corporation, dated July 6, 1984 and recorded among the Land Records of Anne Arundel County in Book EAC No. 3756, Page 373. 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. Purchaser waives the right of rescission under Maryland Condominium Law, having received and reviewed the Condominium resale package prior to the auction. 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.