REAL ESTATE AUCTION
Suggested Opening Bid: $500,000
CLASS A OFFICE
First Floor Unit – 5,806 Square Feet
Sale On Premises
9114 PHILADELPHIA ROAD UNIT #108
Seven Square Corporate Park
Baltimore County, MD 21237
THURSDAY, MARCH 5, 2020
AT 2:00 P.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.
The Seven Square Corporate Park comprises a 7 acre well-landscaped corporate park located in the Rosedale area of eastern Baltimore County. The Park is situated approximately one-half mile from Franklin Square Hospital and Medical Center, and one-quarter mile from a Social Security Administration office. The Baltimore Beltway (I-695, Exit 34) is approximately one mile southwest, with the I-95 interchange a short distance north. Rossville Boulevard and Pulaski Highway (US-40) are also easily accessible. The exceedingly convenient location provides proximity to substantial medical and business hubs in eastern Baltimore County, in addition to the extensive consumer base nearby. The average daily traffic count at the site, according to Maryland State Highway Administration statistics, is 20,860.
For more information about the area, please visit:
Baltimore County Government – www.baltimorecountymd.gov
GIS Traffic Count Data – www.roads.maryland.gov
9114 Philadelphia Road comprises an attractive three story red brick building containing 11 office condominiums. The building features an elevator, common interior entry with reception area and a number of different office users. Ample parking is available on-site. Monthly condominium fee is $1,391.01. Condominium Resale Documents
The unit comprises a first floor unit containing 5,806 square feet, according to public tax and deed records. Total square footage including core factor is believed to be 6,290 square feet. Signage may be available within the first floor windows. The unit is currently arranged as a medical office with lobby entrances, rear staff entrance, reception desk, waiting room, private offices, examination rooms, communial staff work spaces, file and materials storage. Interior finishes unclude drywall, drop ceiling, carpet and tile flooring. Full details of finishes and layout are available via building plans at the site. The unit is suitable for continued medical use or redesign for alternative use.
In fee simple; sold free and clear of all liens.
Published annual real estate taxes are $15,288.69, based on a full value assessment of $1,161,200. 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: Assessment Appeal Process.
Please refer to the contracts of sale for complete terms.
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 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 8% per annum, from date of contract to date of settlement. All adjustments, including taxes, condominium fees, 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 9114 Philadelphia Road Condominium Association. 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, and waives any right of rescission under Maryland Condominium Law, having reviewed the condominium documents prior to 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!
Sale in Cooperation with MacKenzie Commercial Real Estate