"Downtown Baltimore" 2 Blocks from Inner Harbor Office Building - 18,500± Sq. Ft. - Zoned B-5-2

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Listing Details

Sold Price
$900,000
Auction Date
Auction Time
11:00 AM
Address
6-14 S. Gay Street, Baltimore, MD, 21202
County
Baltimore City
Neighborhood
Downtown Baltimore
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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Allan J. Gibber, Attorney
Neuberger, Quinn, Gielen, Rubin & Gibber, P.A.
1 South Street - 27th Floor
Baltimore, MD 21202

ESTATE AUCTION
$750,000 Suggested Opening Bid

- DOWNTOWN  BALTIMORE -
2 Blocks from the Inner Harbor

 

★ OFFICE BUILDING ★
18,500± Sq. Ft. ◆ Zoned B-5-2
(Former Historic Firehouse)

Attractive Seller Financing Available

Sale On Premises
6-14 S. GAY STREET
Baltimore, MD 21202

WEDNESDAY, FEBRUARY 8 ◆ AT 11:00 A.M.


         NOTE:  The information contained herein has been obtained from sources deemed reliable and believed to be accurate.  However, no express or implied warranty is made as to the accuracy of these representations. Prospective purchasers are encouraged to consult with the appropriate government authorities regarding the permitted uses of the property and perform their own due diligence in advance of the auction. All dimensions and acreage contained herein are more or less.

LOCATION & DIRECTIONS:

Prime location in the heart of Downtown Baltimore City, in the Downtown Baltimore Business District.  Located one block west of "Power Plant Live", two blocks north of Baltimore's famous "Inner Harbor" and the "National Aquarium", adjacent to a newly constructed highrise condominium project and parking garage known as "414 Water Street" and one block south of the Baltimore Police headquarters.  Highway access to I-83 is only three blocks to the north off Gay Street, and I-95 is only minutes to the southwest.


Reportedly, prior to the Great Baltimore Fire of 1904, the property was the home of the Carrie A. Nation Woman Suffrage movement and also part of the Underground Railroad.

For directions from your location, visit: maps.google.com


For information on Power Plant Live, visit:
http://www.powerplantlive.com/


For information on the Baltimore Inner Harbor, visit:
http://www.baltimore.to/baltimore.html 


For information on Harborplace, visit:

http://www.harborplace.com

http://www.baltimore.to/Harborplace/index.html


For information on 414 Water Street, visit:
http://www.414waterstreet.com/

 

SITE AREA

The property fronts 99' along S. Gay Street, a rear lot line of 99', with depths of 112'6" and 97'3", comprising 0.244 acre, more or less.


BLOCK PLAT (pdf)


Gated side alley is part of the subject property site.


Serviced by public water, public sewer and natural gas.


NOTE: The building has air rights to be expanded upward for future development.

 

IMPROVEMENTS

 Beautiful two story office building with an historic facade.  The building was originally constructed as a firehouse, just after the Great Baltimore Fire of 1904.  The interior was completely renovated in 1984 to an office building, and in 1997 to house Baltimore City College. 


Now vacant, comprising 18,468 sq. ft. (according to tax records), featuring a two story atrium reception area, 10'10" ceiling height on each floor, drywall interior with some exposed original firehouse imported Italian mosaic tile, elevator, CAT-5 computer wiring throughout, acoustical tile ceilings with florescent lighting, gas hot water heat and central air.  The building has approved air rights.


BUILDING FLOOR PLANS (pdf)

DEVELOPMENT AGREEMENT WITH BALTIMORE CITY (pdf)
Note: This 3.0 MB file may take a moment to download.

Photos of auction property
RECEPTION ATRIUM - PHOTO #1    PHOTO #2
INTERIOR PHOTO #1    PHOTO #2    PHOTO #3   
PHOTO #4    PHOTO #5    PHOTO #6

 

ZONING

B-5-2, commercial.  The building is zoned for numerous additional uses including it's current configuration for offices. 


For more zoning information:
http://www.baltimorecity.gov/Government/CityCharterCodes.aspx

 

REAL ESTATE TAXES

2011-2012 published annual real estate taxes are $7,045.59

 

TITLE

In fee simple;  sold free and clear of all liens.


Levering Associates Limited Partnership is the current owner.  This is the only entity owned by the partnership and the property is being sold by the Estate for the sole owner of the partnership.  NOTE:  The partnership can be transferred with the sale of the real estate as an entity, saving on transfer costs, taxes, etc.

 

INSPECTION TIME

By appointment with the Auctioneers or at 10:00 a.m. on the day of the auction.

 

TERMS OF SALE

 Deposit payable by certified or cashier's check of $25,000 will be required of the purchaser at time and place of sale.  The deposit shall be increased to 10% of the purchase price within 48 hours at the office of the Auctioneers.  Balance to be paid in cash within 60 days. If payment of the balance does not take place within the specified time, the deposit will be forfeited and the property may be resold at the risk and expense of the defaulting purchaser. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of sale to date of settlement.  Taxes and all other public charges and assessments, payable on an annual basis, including sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of sale and assumed thereafter by the purchaser. The property will be sold in "AS IS" condition, without express or implied warranty as to the existing zoning or the nature and description of the improvements as contained herein; and subject to easements, agreements, restrictions or covenants of record affecting same, if any. All dimensions contained herein are more or less.  Purchaser assumes risk of loss from the date of sale forward.  The purchaser waives and releases the Estate, Personal Representative for the Estate, 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 Sellers are 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 Sellers or Auctioneer.  Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the purchaser. TIME IS OF THE ESSENCE.  NO BUYERS PREMIUM!


FINANCING:

ATTRACTIVE SELLER FINANCING AVAILABLE

  • 70% Loan to Value
  • 7% Interest
  • 25-year amortization schedule - 5 year balloon

Purchasers are under no obligation to accept this financing. Please contact the auctioneers for additional terms and requirements for the seller financing. 

For alternative financing information: See our Financing Page for a list of auction-oriented lenders.


Broker participation is invited.
BROKER REGISTRATION FORM (pdf)


BIDDER PRE-REGISTRATION

Online pre-registration is now closed. Please register with the Auctioneer at the auction site.


Auction by order of:
Randolf C. Metcalfe, Personal Representative for the Estate of Blair L. Barton