"Gwynns Falls"

 REAL ESTATE AUCTION 

– $25,000 Suggested Opening Bid –

FORMER
INDUSTRIAL PROPERTY
2 Buildings – 18,100± Sq. Ft.
Situated on 1.296± Acres
Fenced Yard

Sale On Premises
534-546 S.
LONGWOOD STREET
Off 3000 Frederick Avenue
Baltimore, MD 21223

THURSDAY, MAY 16, 2019
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:
534-546 S. Longwood Street is located in the Gwynns Falls neighborhood of southwestern Baltimore City. The surrounding area is a mixture of residential, commercial and industrial land uses. The property is located south of Frederick Avenue (MD-144), north of Wilkens Avenue (US-1), east of Caton Avenue and west of Lower Gwynns Falls Park. The site is 10 minutes from Downtown Baltimore and within 5 minutes of I-95 Caton Avenue Exit.

The property is located in a Baltimore City HUBZone. The HUBZone (Historically Underutilized Business Zone) Empowerment Contracting Program provides federal contracting preferences to businesses in certain urban and rural areas. It is a program of the Small Business Administration (SBA). HUBZone certification enables a business to be more competitive in contracting and procurement opportunities with the Federal government.

SITE:
1.296 acres, fronting 57’6″ along S. Longwood Street, by a depth of 461′, with a central width of approximately 179′, and a rear lot line of 118’6″ along Wellesley Street. An asphalt driveway leads from Longwood Street to the central portion of the site and an asphalt parking area.

The lot is fairly level. A large portion of the site is chain link fenced.

All public utilities are believed to be available.

ZONING:
Under the Transform Baltimore re-zoning, the property was down-zoned from ME industrial to R6, residential. In checking with the Baltimore City Zoning Office, the last registered use was for the engineering and manufacturing of solar panels. The property has not been used for a few years.

IMPROVEMENTS:

• Office Building – approximately 4,900 square feet – concrete block construction, built-up roof, metal casement windows; approximately half is finished office space, the balance is warehouse; gas hot water heat; drive-in loading
• Manufacturing Building – approximately 13,200 square feet – concrete block construction, built-up roof; 4 loading docks; drive-in door; 2 pedestrian doors

According to published tax records, the buildings were constructed in 1964 and comprise 19,508 square feet of gross building area. Renovation is needed.

TAXES:
Published annual real estate taxes are $4,613, based on a full value assessment of $195,500.

TITLE:
The property is in fee simple and sold free and clear of liens. Baltimore City Deed Liber 3856, Page 424.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $5,000 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, 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, subject to existing zoning and subject to any building violation notices, 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. A 6% buyer’s premium will be added to the final bid.

Auction conducted in collaboration with Gold and Company