"West Baltimore"

 REAL ESTATE AUCTION 

– Online Only Auction –
$250,000 Suggested Opening Bid

WEST BALTIMORE
INDUSTRIAL BUILDING
9,939± Square Feet ◆ 20-Car Fenced Parking

Known As
3121 LOHRS LANE
Off 100 S. Hilton Street
Baltimore, MD 21229

BIDDING OPEN:
FRIDAY, MARCH 20, 2020

BIDDING CLOSE:
WEDNESDAY, MARCH 25, 2020
AT 12:00 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.

LOCATION:
3121 Lohrs Lane is located in the Carroll-South Hilton Neighborhood of western Baltimore City. The property is convenient to I-95, I-695 and is approximately three miles west of Downtown. Public transportation is within walking distance. The surrounding neighborhood is a mixture of residential and industrial land uses. The Amtrak railroad bounds the rear of the site, providing a signage opportunity.

SITE:
0.385 acre of land, fronting approximately 157′ along the south side of Lohrs Lane, by a depth of approximately 88′.

The lot is level and asphalt paved for approximately 20-car parking, surrounded by a 6′ high chain link fence.

Zoning I-MU Industrial Mixed-Use District – this designation is designed to allow for reuse of older industrial buildings into mixed-use spaces that will allow artist live/work spaces, light industry, residential, and retail.

Public water, sewer, gas and electricity are in the site.

IMPROVEMENTS:
One story masonry industrial building, built in 1940, containing 9,939 square feet of gross building area, according to public tax records.

Exterior – brick and concrete block, rubber membrane roof over steel trusses, 3 overhead drive-in doors, 2 overhead loading doors

Interior – currently arranged for two tenant spaces with removable partition wall. Front portion has an open area, rest room and one drive-in door. Rear portion has two drive-in and two loading doors, a rest room and framing for an office area and loft. Florescent lighting. Security cameras. Overhead gas space heaters. 20′ interior ceiling height.

The building is well suited for automotive use, warehousing and distribution, or light manufacturing.

TITLE:
The property is in fee simple and sold free and clear of liens. Baltimore City Deed Book 16812, Page 434.

TAXES:
Published annual real estate taxes are $5,207, based on a full value assessment of $220,667.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $25,000 deposit, or ten percent (10%) of the Purchase Price (whichever is greater), in cash or cashier’s check to be delivered to the Auctioneer’s office at 6500 Falls Road, Baltimore, MD 21209, or sent by wire transfer, within 24 hours of Wednesday, March 25, 2020 at 12:00 P.M. (the bid closing). 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, 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.

Auction conducted in collaboration with Gold and Company, LLC