REAL ESTATE AUCTION
Suggested Opening Bid: $75,000
Commercial Condominium Unit
Sale On Premises
1232 RACE ROAD
“Rossville Professional Center”
Baltimore County, Maryland 21237
THURSDAY, FEBRUARY 15, 2018
AT 11:00 A.M.
THE INFORMATION CONTAINED HEREIN HAS BEEN OBTAINED FROM SOURCES DEEMED RELIABLE AND BELIEVED TO BE ACCURATE. HOWEVER, NO EXPRESS OR IMPLIED WARRANTY IS MADE AS TO THE ACCURACY OF THESE REPRESENTATIONS. ALL DIMENSIONS CONTAINED HEREIN ARE MORE OR LESS.
The Rossville Professional Center is located at 1232 Race Road in Rosedale, near the intersection of Rossville Boulevard and Philadelphia Road. The location offers a convenient location to prospective customers and employees, with ample access to the Baltimore Beltway (I-695), I-95, MD-702, Pulaski Highway, Philadelphia Road and Rossville Boulevard. Surrounding properties include professional offices, distribution centers, big box retail, neighborhood retail, automotive services and hospitality. According to the State Highway Administration GIS Traffic Count Map, approximately 22,754 cars per weekday travel along the segment of Rossville Boulevard running parallel with Race Road.
The Rossville Professional Center, also known as the Rossville Medical Center Office Condominium, is a four story professional building containing ten commercial condominium units. The masonry building features secured common entry, elevator and good exposure along Rossville Boulevard, which is situated parallel to Race Road. Surface parking is available on both sides of the building, including at the front and rear entrances of unit #101. Condominium fee is $340.07/mo. Condominium Resale Package.
Commercial condominium – according to tax records the unit contains 1,210 square feet of gross unit area. The unit is located on the first floor, at the rear (eastern) corner of the building.
The space was used as a medical office by the owner for the last 25 years.* The convenient location and unit orientation on the first floor make the unit well suited for continued use as a professional office or conversion to retail space.
*Pursuant to an agreement between the owner and third party, the space cannot be purchased by or rented to a business in the eye care field.
Published annual real estate taxes are $3,072.62, based on a full value assessment of $181,500. Purchasers may petition for a reduction in the assessment of their property in conjunction with a purchase price substantially less than the currently assessed value of the property. Purchasers are encouraged to contact the Maryland State Department of Assessments & Taxation concerning the appeals process, and may see the following link for helpful information:
The property is in fee simple; sold free and clear of all liens.
A $7,500 deposit, payable by certified check or 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. 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, condominium fees, utilities, 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, and subject to the Declaration and Bylaws of the Rossville Medical Center Office Condominium. 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. Purchaser waives any right of rescission under the Maryland Condominium Act, having had sufficient time to review the condominium resale package in advance of the auction. 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