"West Baltimore"

 REAL ESTATE AUCTION 

$75,000 Suggested Opening Bid

– West Baltimore –
INDUSTRIAL BUILDING
18,720± Sq. Ft. ◆ 0.28± Acre ◆ Loading Dock
– Zoned I-MU: Industrial – Mixed-Use –

Sale On Premises
1314 LAURENS STREET
a/k/a 1304-1314 Laurens Street
Corner N. Woodyear Street
Baltimore City, MD 21217

THURSDAY, SEPTEMBER 27, 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:
1314 Laurens Street is located in the Sandtown-Winchester neighborhood in west Baltimore City, and is within the Old West Baltimore National Historic District. The property is about 1.5 miles west of Downtown Baltimore, 0.5 miles south of North Avenue/US-1 and 0.7 miles north of US-40. I-395, providing access to I-95, and I-295 are a little more than 2 miles to the south. Surrounding properties are a mix of commercial, residential, educational and community use. Many of the surrounding homes were newly constructed in the 1990’s.

For more information about the area, please visit:
https://livebaltimore.com/neighborhoods/

SITE:
Lot size – 12,066 square feet, or 0.28 acre, more or less

The lot fronts 100′ on Laurens Street

Fenced loading dock along Woodyear Street, with curb cut on Laurens Street

Additional fenced parking to the rear of the loading dock

Zoning I-MU, Industrial Mixed-Use – described as “Primarily for existing industrial buildings and permits both light industrial uses and a variety of nonindustrial uses, such as dwellings, commercial, creating a mixed-use environment.

For more information about Baltimore City Zoning, please visit:
https://planning.baltimorecity.gov/

IMPROVEMENTS:
Stately, freestanding brick industrial building – the building was constructed in 1922 and contains 18,720 square feet of gross building area, according to public tax records. The building features multiple front and side entrances, two roll-up doors, mezzanine and three-phase electrical service. The building was operated as the Capitol Cake Company for approximately 90 years prior to being sold a couple of years ago. The building is arranged predominantly as an open manufacturing building with approximately 18′ ceilings. The clear span area is 16′ minimum, with spans of 25′ or more between some columns.There is an office area arranged for reception and two private offices. Two powder rooms are located adjoining the office at the southeast corner of the building.

TITLE:
In fee simple; the property is sold free and clear of liens. Baltimore City Deed Book 18595, folio 353.

TAXES:
Published annual real estate taxes are $2,666.80, based on a full value assessment of $113,000. 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:
http://dat.maryland.gov/realproperty/Pages/Assessment-Appeal-Process.aspx

SUMMARY TERMS OF SALE – PLEASE REFER TO THE CONTRACT FOR THE COMPLETE TERMS OF SALE:
A $10,000 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 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 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.