Featuring Live & Online Simulcast Bidding
– $500,000 Opening Bid –
100% Occupied ✦ On-Site Parking
a/k/a 5614 Newbury Street
Corner Sulgrave Avenue
Baltimore City, MD 21209
Online Bidding Opens
WEDNESDAY, MAY 11, 2022
Live Onsite Auction
FRIDAY, MAY 13, 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.
5614-5618 Newbury Street is located in the heart of Mount Washington Village in North Baltimore. The Mount Washington neighborhood is an historic community with roots predating the Civil War. Mount Washington Village is at the heart of the neighborhood, comprising the commercial and shopping district for the larger surrounding area. With easy access to the Jones Falls Expressway (I-83), Northern Parkway, Smith Avenue and Falls Road, as well as having a light rail stop within two blocks, the location is among the most convenient in the area.
Mount Washington is well known for its collection of restaurants, retail shopping, service businesses and an array of major employers. Well-known businesses in close proximity include DLA Piper, Johns Hopkins (Mount Washington Campus), Mount Washington Pediatric Hospital, Mount Washington Tavern and Baltimore Clayworks. The Village offers a warm, inviting community feel providing a variety of conveniences to those both living and working in the area, as well as to those visiting the district from throughout the metropolitan area.
The auction affords an excellent opportunity to buy a freestanding building with parking on a prime corner with full occupancy and a long rental history.
For more information about the area, please visit:
Mount Washington – livebaltimore.com
Mount Washington Village – www.mountwashingtonvillage.com
CityView Map – cityview.baltimorecity.gov
Lot size – 90′ x 50′, comprising 4,500 square feet, more or less. Plat
The property fronts 90′ on Newbury Street and 50′ on Sulgrave Avenue
Curb cuts on both Newbury Street and Sulgrave Avenue. 4+ vehicle surface parking on Sulgrave Avenue side, and 2 vehicle parking on Newbury Street side.
All public utilities
C-1 Commercial – According to Baltimore City Zoning District Summary, the C-1 District comprises “Commercial clusters or pedestrian-oriented corridors of commercial uses that serve the immediate neighborhood. Ensures compatibility between neighboring residential and commercial uses.
A list of permitted uses can be found here: Table 10-301 – planning.baltimorecity.gov
For more information about Baltimore City zoning, please visit:
Zoning – dhcd.baltimorecity.gov
Single story freestanding building – constructed in 1971 and containing 2,400 square feet of gross building area, according to public tax records.
Features include new Firestone TPO roof (2021) with a stated 20 year useful life and 10 year warranty, new commercial grade air conditioning unit (1 of 3), three commercial entrances (fronting on Newbury Street) and a well-exposed corner location.
The building is arranged for three suites, all of which are occupied. Tenants include a salon, nail spa and dance studio. Gross scheduled annual rent for all three units is $76,200, including tenant contribution for water. Tenants pay their own utilities. Please see our confidential information section below for copies of the leases and a proforma income and expense statement.
Please complete a Waiver and Confidentiality Agreement form to view copies of the leases and a proforma income and expense statement
In fee simple; sold free and clear of liens.
Published annual real estate taxes are approximately $5,357.20, based on a full value assessment of $227,000.
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 by 11:00 A.M., Monday, May 16, 2022, 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 Thursday, May 12, 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 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, 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. 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 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. A 5% buyer’s premium will be added to the final bid price.