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Bidding Opens: Friday, August 21, 2020
– Separate and Entirety Offerings –
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.
2338 McElderry Street are located in the McElderry Park neighborhood in east Baltimore. The properties are positioned at the southeast corner of the Monument Street business district, a commercial corridor running east from Johns Hopkins Hospital between Madison Street and Jefferson Street through roughly Milton Avenue. The corridor is well known to generations of Baltimoreans who have called the surrounding neighborhoods home, as well as tens of thousands of employees, patients and visitors to Johns Hopkins Hospital annually. The cornerstone of the corridor is the Northeast Market, which has served Baltimore for approximately 135 years. The corridor features an array of retail businesses, restaurants, neighborhood services and social and religious organizations.
2338 McElderry Street comprise adjoining warehouse buildings at the corner of the respective streets. Surrounding property uses include churches, an American Legion, elementary school and playground, clothing store, restaurants and various retail outlets, in addition to neighborhood homes. The location provides excellent proximity to a major potential customer base combined with easy access to US-40 (Orleans Street/Pulaski Highway), I-95, I-895, I-83 and the array of major employment centers immediately west and east of the property. The position on McElderry Street and Montford Avenue provides a slightly quieter location within an otherwise exceedingly convenient location.
2338 McElderry Street:
All public utilities
The property is zoned R-8, residential, with approved use as a warehouse according to the Baltimore City zoning office.
In addition to the approved non-confirming use, additional permitted uses within an R-8 zoning district include Day-Care, Primary/Secondary Educational Facility, Place of Worship, Multi-Family Dwelling, Rowhouse Dwelling and Semi-Detached Dwelling.
For more information, please visit: Baltimore City Zoning.
The building comprises a warehouse buildings with an interconnecting door to 600 N. Montford Avenue. Both buildings are owner occupied. The doorway was recently added, and can be removed in the instance of individual sale. The properties have separate tax records and utilities. The building is arranged as follows:
2338 McElderry Street:
In fee simple; sold free and clear of all liens
Published annual real estate taxes are as stated below with the full value tax assessment in parenthesis.
2338 McElderry Street: $1,302.72 ($55,200)
MANNER OF SALE:
The properties will be offered both individually and as an entirety for a total of three separate offerings. The bid price on the entirety (third) offering will be increased to the total of the first and second offerings at the time 2338 McElderry Street bidding closes (the second offering). The properties are being sold subject to reserve, and the seller retains the discretion as to sell one of the properties, both properties individually, both properties as an entirety or withdraw the properties.
SUMMARY TERMS OF SALE – PLEASE REFER TO THE CONTRACT FOR THE COMPLETE TERMS OF SALE:
A $10,000 deposit, or ten percent (10%) of the Purchase Price (whichever is greater), for each offering, 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 Wednesday, August 26, 2020 at 12:00 P.M. 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. 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 settlement 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. Time is of the essence. A 5% buyer’s premium will be added to the final bid price