"Monument Street Business District"

 ESTATE AUCTION 

2 – Income Producing
STOREFRONT
BUILDINGS

& PARKING LOT

Sale On Premises
2110 & 2112-2114
E. MONUMENT STREET
Corner Duncan Street
& 701 N. DUNCAN STREET
Baltimore, MD 21205

WEDNESDAY, JULY 31, 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:
The properties are located two blocks east of Johns Hopkins Hospital, along the Monument Street business district, opposite the Northeast Market. The surrounding neighborhood is designated by Baltimore City as “Middle East/Eager Park”. The community business district is located along E. Monument Street, comprising retail stores, restaurants, community services and the Northeast city market. Johns Hopkins employees work and live in the area. The neighborhood is less than two miles northeast of the Inner Harbor, Harbor East and Baltimore’s central business district.

The buildings are located on the north side of Monument Street and comprise the northwest and northeast corners of Monument and Duncan Streets.

2110 E. MONUMENT STREET:
Three story brick end-of-group storefront building with rear parking. First floor and basement are leased to the Sunnyside Café for $21,600 per year, under a three-year lease with rent escalations and a five-year renewal option. Second and third floors are vacant. Building comprises 2,065 square feet of gross building area, according to public tax records. Lot size 14′ x 90′; Plat. Zoning C-1, commercial. All public utilities. Subject to two annual $60 ground rents (not registered). Published annual real estate taxes are $2,254.

Deposit $10,000

2112-2114 E. MONUMENT STREET:
Three story brick end-of-group storefront building with rear loading dock and elevator (1,500 lb. cap.). First floor is leased to H & J Kim, Inc. Beauty Supply for $50,400 per year, under a three year lease extension agreement with rent escalations. The second floor is vacant warehouse space. Third floor is warehouse and owner-occupied office space. Basement has additional storage area and two safes. Steel fire escape. Building comprises 11,070 square feet of gross building area, according to public tax records. Lot size 40’7″ x 90′; Plat. Zoning C-1, commercial. All public utilities. Subject to an annual $40.50 ground rent (not registered). Published annual real estate taxes are $4,838.

Deposit $20,000

701 N. DUNCAN STREET:
Vacant lot used for parking, situated in the rear of 2112-2114 E. Monument Street. Lot size 12′ x 43′, corner of an alley for easy access. Zoning R-8, residential. In fee simple. Published annual real estate taxes are $165.

Deposit $2,500

ADDITIONAL INFORMATION:
Leases are available to view. Please complete the Waiver and Confidentiality Agreement form.

SUMMARY TERMS OF SALE:
Please see the contracts of sale for complete terms.

Deposits as stated above, 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.

Rented Properties – All adjustments, including taxes, rents, ground rent, 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. The properties will be sold in “AS IS” condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any. The properties will be sold subject to the existing leases. Security deposits, if any, will be transferred at settlement.

701 N. Duncan Street – All adjustments will be made as of the date of contract. Interest shall be charged on the unpaid purchase money, at the rate of 12% per annum, from date of sale to date of settlement.

All Properties – 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.

No buyer’s premium.

Auction by order of the Personal Representatives and Trustee of:
Estate of Albert M. Potts, Estate of Efrem M. Potts and the Residuary Trust under the will of Sheba P. Scher