"Fells Point" Commercial Buildings

6,700 Sq. Ft. - Zoned B-2-2
Redevelopment Concept Plan for Retail Space & 5 Apartments
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Listing Details

Sold Price
$340,000
Auction Date
Auction Time
2:00 PM
Address
1719 Eastern Avenue, Baltimore, MD, 21231
County
Baltimore City
Neighborhood
Fells Point
Inspection
The property may be inspected by appointment, email info@ajbillig.com or call 410-296-8440. The building will also be open for inspection one hour before the auction.
Additional Documents
Concept Floor Plans
Financing
See our Financing Page for a list of auction-oriented lenders.
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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REAL ESTATE AUCTION

FELLS POINT

COMMERCIAL BUILDINGS
6,700 Sq. Ft. ◆ Zoned B-2-2

Redevelopment Concept Plan
for Retail Space & 5 Apartments

Sale On Premises

1719 EASTERN AVENUE
f/k/a 1717-1719-1721 Eastern Avenue
Corner S. Regester Street
Baltimore, MD 21231

THURSDAY, NOVEMBER 20, 2014
AT 2:00 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:
1719 Eastern Avenue is situated at the southeast corner of Eastern Avenue and Regester Street in the Fells Point area of southeastern Baltimore City.  The site is one block east of the 500 block of S. Broadway, the central north-south commercial street of Fells Point.

The historic Fells Point waterfront neighborhood dates to 1763 and was established as a seaport.  Beginning in the early 1970s, Fells Point was rejuvenated with new and rehabilitated housing, shops, pubs, upscale restaurants, marinas and a renovated city market.  The neighborhood is designated as a historic district by the National Register of Historic Places.  Development of new luxury housing in Fells Point is still underway, as the neighborhood is one of Baltimore City's most desirable urban communities.

Fells Point is convenient to downtown employment centers, Johns Hopkins Hospital, I-83, I-95, I-895, and public transportation.  

Wikipedia link for Fells Point:
http://en.wikipedia.org/wiki/Fell's_Point,_Baltimore

LiveBaltimore link for Fells Point:
http://livebaltimore.com/neighborhoods/fells-point

SITE:
Level rectangular lot - fronting 43' along the south side of Eastern Avenue by 67' along S. Regester Street.  A small alley bounds the rear.

Zoning B-2-2, commercial

All public utilities are in the site

On-street parking at the door

Aerial Photo
eastern1719 aerial close

Block Plat

IMPROVEMENTS:
Three Interconnected Storefront Buildings - according to Baltimore City tax records, the buildings date to 1920 and contain 6,702 square feet of gross building area.  The buildings could potentially be much older and were most recently operated as the Prime Steakhouse.  It is currently vacant and suitable for renovation.

Exterior
Brick construction
Built-up roof with decorative cornice
Wood double hung windows on upper levels
Two front show windows
Three front commercial entrances
Side entrance on Regester Street
Rear exit to small alley

Interior
Exposed brick, plaster and drywall
Decorative arched windows and doors
Wood floors
Front and rear interior stairways

First Floor - bar area with granite counter, open retail areas, commercial kitchen with ceramic tile floor, walk-in cooler, updraft, 2 public rest rooms, employee rest room

Second Floor - 6 large rooms, 2 rest rooms

Third Floor - 5 rooms and rest room

Crawl space

The building is suitable for a variety of uses, including one large or three smaller retail stores, offices or apartments.  Please see the Concept Floor Plans for some preliminary ideas.

TITLE:
The property is in fee simple and sold free and clear of liens.  Baltimore City Deed Liber 16481, folio 349.

TAXES:
Published annual real estate taxes for 2014 are $20,803, based on a full value assessment of $881,500.  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://www.dat.state.md.us/sdatweb/appeal.html

INSPECTION:
The property may be inspected by appointment, email info@ajbillig.com or call 410-296-8440.  The building will also be open for inspection one hour before the auction.

TERMS OF SALE:
A $25,000 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.  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 sale to date of settlement.  All adjustments, including taxes, all other public charges and assessments payable on an annual basis, and 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, and subject to easements, agreements, restrictions or covenants of record affecting same, if any.  Purchaser assumes the risk of loss from the date of sale 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.