"Southwest Baltimore - I-95 Corridor"

 REAL ESTATE AUCTION 

I-95 Corridor 

2.23 ACRE± CORNER 
COMMERCIAL PROPERTY 
Currently Leased to a Used Car Dealer 

2 Buildings ◆ 3 Lots ◆ Zoned C-2 
Individual & Entirety Offerings 

Sale On Premises 
2801, 2807 & 2819-2821 
WILKENS AVENUE 
Near Caton Avenue 
Baltimore, MD 21223 

WEDNESDAY, APRIL 4, 2018 
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.

LOCATION:
2801-2821 Wilkens Avenue is located in the Wilhelm Park neighborhood, of southwestern Baltimore City, east of Caton Avenue and west of Monroe Street. The site is approximately one mile northeast of I-95 Exit 50, three miles east of Baltimore Beltway (I-695) Exit 12 and two miles west of Downtown Baltimore. The surrounding area is a mixture of commercial, industrial and residential land uses. St. Agnes Hospital is several blocks west of the property. MTA bus transportation is along Wilkens Avenue.

The property has two buildings, originally used as a fast food restaurant and diner, situated on an asphalt paved lot. The entire site is rented for $1,500 per month to Legend Motor Cars automobile sales, on a month-to-month basis. A billboard is leased to Clear Channel for $800 per year.

SITE:
The property is situated at the southwest corner of Wilkens Avenue and S. Dukeland Street and is comprised of three contiguous lots (see block plat):

2801 Wilkens Avenue (Baltimore City Block 2108, Lot 1) – 1.469 acres situated at the corner of Wilkens and Dukeland, fronting 133′ along the south side of Wilkens Avenue, 229′ along the west side of Dukeland, with a rear lot line of 503′ bounding Lots 1A and 2.

2807 Wilkens Avenue (Baltimore City Block 2108, Lot 1A) – 0.327 acre, fronting 100′ along Wilkens Avenue by a depth of 150′.

2819-2821 Wilkens Avenue (Baltimore City Block 2108, Lot 2) – 0.440 acre, fronting 167′ along Wilkens Avenue by a depth of 150′.

Zoning C-2 – Small to medium-scale commercial use, typically located along urban corridors. Mixed-use development is appropriate within this district.

All public utilities are in the site.

The lot is asphalt paved and has multiple access points from Wilkens Avenue and Dukeland Street. A traffic signal is at the intersection. Visibility of the property is good from all directions.

IMPROVEMENTS:

2801 Wilkens Avenue – one story frame former fast food restaurant building, 676 square feet of gross building area, according to public tax records, built-up roof, glass show windows, gas heat, central air, pole sign.

2807 Wilkens Avenue – lot with Clear Channel billboard.

2819-2821 Wilkens Avenue – one story brick former restaurant building, 2,397 square feet of gross building area, according to public tax records, built-up roof, rear addition, gas heat, central air, pole sign.

TITLE:
The properties are in fee simple and sold free and clear of liens.

TAXES:
2801 Wilkens Avenue – $5,673 annually, based on a full value assessment of $240,400.

2807 Wilkens Avenue – $1,008 annually, based on a full value assessment of $42,700.

2819-2821 Wilkens Avenue – $3,063 annually, based on a full value assessment of $129,800.

MANNER OF SALE:
First Offering – 2801 and 2807 (total 1.796 acres) and the bid reserved. Second Offering – 2819-2821 (0.440 acre) and the bid reserved. Third Offering – all parcels will be offered as an entirety. The sale will be made in the manner producing the greater amount.

TERMS OF SALE:
A $10,000 deposit on each offering or $20,000 if sold as an entirety, 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 12% per annum, from date of contract to date of settlement. All adjustments, including taxes, rents, 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.

In cooperation with Thornhill Properties Incorporated