ABSOLUTE ESTATE AUCTION
To The Highest Bidder Over $2,500
TWO STORY COMMERCIAL BUILDING
Zoning C-2, Commercial
Sale On Premises
522 OLD TOWN MALL
Baltimore, MD 21202
FRIDAY, MARCH 16, 2018
AT 12:00 NOON
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.
The property is located in the Oldtown neighborhood in central Baltimore City. The Old Town Mall, or Oldtown Mall, is an outdoor pedestrian shopping mall. The mall contains 64 stores. The area has seen many periods of revival and decline in the past 200 years since its opening, and there are currently plans by developers in the area to revitalize the mall. The building sits approximately 0.5 mile west of Johns Hopkins Hospital, and 1 mile north of the Baltimore Inner Harbor, with plentiful shopping and restaurants. The area is conveniently located close to I-83, and US RT 40. Metro Light Rail and bus service are within walking distance. According to the State Highway Administration GIS Traffic Count Map, approximately 13,732 cars per weekday travel along this segment.
For additional information:
Maryland Annual Average Daily Traffic data
Rectangular lot: 16’6″ x 100′, more or less
Street parking and off-street parking lots for Oldtown Mall
All public utilities
Zoned C-2 Commercial
For more information, see the current Baltimore City Zoning Code.
Two Story Shell Commercial Building constructed in 1920, and containing 1,312 square feet of gross building area according to public tax records.
The property is in fee simple and sold free and clear of liens.
Published annual real estate taxes are $448.40, based on a full value assessment of $19,000.
A $2,500 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 12:00 Noon, Monday, March 19, 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. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of contract to date of settlement. 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 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. Time is of the essence.
No buyer’s premium
Sale by order of the Estate of Irwin Fuss