REAL ESTATE AUCTION
Three Story Brick
– Zoned C-2 Commercial –
Sale On Premises
1126 W. BALTIMORE STREET
Near Carrollton Avenue
Baltimore City, MD 21223
THURSDAY, MAY 24, 2018
AT 1:00 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.
1126 W. Baltimore Street is located in the Poppleton neighborhood in southwest Baltimore, and is within the Union Square – Hollins Market National Historic District. Hollins Market, located one block south, and the surrounding area are in the midst of significant development. War Horse CDC recently released renderings for renovation of Hollins Market, with a proposed renovation start date as soon as this Fall. New residential homes and renovation projects surrounding the market have also been announced. The University of Maryland Biopark is within two blocks, and features large, new commercial and mixed-use projects. The University of Maryland Baltimore campus is within one-half mile. The site offers ample exposure in a well located area. According to State Highway Administration GIS Traffic Count Map, approximately 9,884 cars per weekday travel along this segment of W. Baltimore Street.
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Lot size: 16′ x 155′, more or less
All public utilities
Zoned C-2, commercial. According to the TransForm Baltimore Zoning district summary: “Small to medium scale commercial use, typically located along urban corridors. Designed to accommodate pedestrians, and, in some instances, the automobile, Mixed-use development is appropriate within this district”
Baltimore City Zoning:
Three story inside-group commercial storefront building – built in 1900 and containing 3,264 square feet of gross building area, according to public tax records. The building has a formstone facade, two entrances in the front and steel fire escape in the rear. The rear portion of the lot is covered by a one-story brick structure in disrepair. This portion would be suitable for off-street parking for several vehicles, or additional building area.
Current annual real estate taxes are $1,014.80 based on a full value assessment of $43,000.
In fee simple; sold free and clear of liens.
A $2,500 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, 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 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 agrees to waive the right of inspection for lead paint, as provided under current Federal and State law. 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.
No Buyer’s Premium!