Featuring Live & Simulcast Online Bidding
$500,000 Opening Bid
– Harford County –
Restaurant Building ✦ 90+ Car Parking
1± Acre ✦ Zoned B3 Commercial
Sale On Premises:
2101 PULASKI HIGHWAY
Near Emmorton Road (MD-24)
Edgewood, Harford County, MD 21040
– CANCELED –
Online Bidding Opens
TUESDAY, SEPTEMBER 6, 2022
Live Onsite Auction Begins
THURSDAY, SEPTEMBER 8, 2022
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.
2101 Pulaski Highway is located in the Edgewood area in Harford County. Positioned on Pulaski Highway (US-40), the site carries a very high level of exposure, with approximately 24,000 cars per day (AADT) passing by the location. Emmorton Road (MD-24, 0.3 mi. east) provides direct access to both I-95 and Aberdeen Proving Grounds. Mountain Road (MD-152) is just a short distance west, providing further convenient access throughout the immediate area.
The prime commercial corridor is home to a number of retail shopping centers and stand-alone businesses. Nearby businesses include restaurants, retail shopping, automotive businesses and a variety of service based businesses. Proximity to a very robust consumer base in the immediate area, coupled with easy access via the major commuter routes mentioned above, should make the location attractive to both business owners and investors looking to place tenants. The building is turn-key for restaurant operation, and otherwise well positioned for redevelopment for a variety of alternative uses. The auction provides an excellent opportunity for commercial real estate buyers of all types.
For more information about the area, please visit:
Harford County Government – www.harfordcountymd.gov
Harford County WebGIS – hcggis.harfordcountymd.gov
Lot size – 1.06 acres, more or less, according to public tax records. 1.057 acres according to deed records.
The property fronts 115′ on Pulaski Highway. Depths of approximately 400′. Curb cut on Pulaski Highway.
Front asphalt paved parking lot for 10+ vehicles. Rear asphalt paved parking lot for 80+ vehicles.
B3 – General Business District
According to the Harford County Zoning page, “B3, General Business District is intended to provide a wide range of retail, service and business uses serving local and county-wide areas. Such activities are generally located along arterial roads.”
According to the Harford County Zoning code, example permitted uses include:
For more information about Harford County zoning, please visit:
Planning & Zoning – www.harfordcountymd.gov
Free standing single story commercial building – constructed in 1976 and containing 6,468 square feet of gross building area, according to public tax records. The masonry-block building features a stone facade, aluminum roof fascia and flat roof. The building is arranged as a restaurant with large, fully equipped kitchen, bar area, three dining rooms, powder rooms, utility/storage spaces and office. According to seller information, the capacity is 250 patrons, and the prior tenant was paying $10,000/month NNN.
In fee simple; sold free and clear of all liens.
Current annual real estate taxes are $10,533.88, based on a full value tax assessment of $966,500.
A liquor license may be available in conjunction with the sale. More information coming soon.
FURNITURE, FIXTURES AND EQUIPMENT:
The property contains an array of furniture, fixtures and equipment, including kitchen equipment, 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. The sale will be conducted as a simulcast auction, with both online and in-person bidding available. Pre-auction offers are encouraged.
SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
Live Auction Bidders – a $50,000 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 (wire or cashier’s check).
Online Auction Bidders – a $50,000 deposit, payable by cashier’s check or wire, will be required of all online bidders by 12:00 Noon on Wednesday, September 7, 2022. The deposit will be held in escrow until the completion of the auction and will be retained from the winning bidder. Other bidder deposits will be returned within one business day. Interested parties who do not provide a deposit in advance as stated above will not be permitted to bid. The deposit shall be increased to 10% of the purchase price by cashier’s check or wire transfer by 4:30 P.M. on the day of auction. Deposit Escrow Agreement
Deposit funds shall be held by A. J. Billig & Co., LLC. Balance to be paid in cash at settlement, which shall take place within 60 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 8% 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. 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 except where otherwise mandated by local, State or Federal law. Time is of the essence.
No Buyer’s Premium!