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This Auction has been CANCELED.
ONLINE REAL ESTATE AUCTION
– Zoned C-1 for Storefront and 3 Apartments –
701 – 703 POPLAR GROVE STREET
Corner of Poplar Grove Street and N. Franklintown Road
Baltimore City, MD 21216
– CANCELED –
MONDAY, MARCH 1, 2021
THURSDAY, MARCH 4, 2021 AT 12:00 P.M.
– Starting Bid: $60,000 –
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.
701 – 703 Poplar Grove Street is located in the Mosher neighborhood of West Baltimore City. Surrounding neighborhoods include Franklintown and Penrose. The property is located on the busy intersection of N. Franklintown Road and Poplar Grove Street – daily traffic count of over 7,800 cars. Pharmacies, religious institutions, grocery stores, barbershops and more are located within close proximity on Poplar Grove Street and N. Franklintown Road. Storefront users and tenants have access to bus routes located immediately in front of the property and the Baltimore Metro within a mile. Major employers in the area include Coppin State University, Grace Medical Center and Saint Agnes Hospital.
Lot – 30′ x 96′, more or less. Plat
All public utilities
C-1 Commercial, approved use for restaurant and three dwelling units. According to the Zoning webpages, C-1 zoning comprises “commercial clusters or pedestrian-oriented corridors of commercial uses that serve the immediate neighborhood.”
The property is within an Enterprise Zone, offering an array of incentives for business owners and developers. For more information see: Enterprise Zone – baltimoredevelopment.com
Three story building arranged for storefront and 3 apartment units. According to public tax records, the property was built in 1920 and contains 5,250 square feet of living area. The storefront contains a shopping area, enclosed employee area, commercial kitchen, storage, restroom and office. Storefront is currently rented for $2,000/ month on a month-to-month lease.
In fee simple; sold free and clear of liens. Baltimore City Deed Book Liber MB 22488, folio 131.
Published annual real estate taxes are $1,104.48, based on a full value assessment of $46,800.
SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $7,500 deposit, or ten percent (10%) of the Purchase Price (whichever is greater), 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 4:00 P.M. on Thursday, March 4, 2021. 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, rent, 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 settlement and assumed thereafter by the purchaser. Security deposits, if any, shall be adjusted at the time of settlement. The property will be sold in “AS IS” condition, and subject to the existing leases of the tenants in place, easements, agreements, restrictions or covenants of record affecting same, if any. The Property will be sold subject to Baltimore City violation notices, if any. Purchaser assumes the risk of loss from the date of settlement forward. The purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law. 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. A 5% buyer’s premium will be added to the final bid price.