Restaurant Building with On-Site Parking

$47,000+ N.O.I. IN 2013 Projected to Increase in 2014
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Listing Details

Sold Price
$600,000
Auction Date
Auction Time
11:00 AM
Address
5600 Baltimore National Pike (US-40), Catonsville, MD, 21228
County
Baltimore County
Neighborhood
Catonsville
Inspection
The property is operating during business hours and will be open for inspection one hour before the auction.
Additional Documents
Site Drawing
Reciprocal Parking Agreement
Please complete and return the Waiver and Confidentiality Agreement (click above link) to receive the 2013 Income and Expense Statement, 2014 Income and Expense Statement, Lease Abstract and Full Lease.
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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Matthew A. Mace, Attorney
Ober, Kaler, Grimes and Shriver,
A Professional Corporation
100 Light Street
Baltimore, MD 21202

TRUSTEE’S AUCTION

HIGH VISIBILITY
RESTAURANT BUILDING
0.56 Acre +/- ◆ On-Site Parking

$47,000+ N.O.I. IN 2013
Projected to Increase in 2014

Sale On Premises
5600 BALTIMORE NATIONAL PIKE (US-40)
Occupied By:
"Shirley’s Family Diner"
Corner Johnnycake Road
Baltimore County, MD 21228

TUESDAY, SEPTEMBER 9, 2014
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:
5600 Baltimore National Pike is a high-visibility site in the Catonsville area of western Baltimore County. The property is situated at the corner of Baltimore National Pike (US-40) and Johnnycake Road, a heavily traveled intersection, with traffic light, approximately one-half mile from  Baltimore Beltway (I-695) Exit 15. Surrounding property uses include a mix of office buildings, shopping centers, hotels and residential subdivisions, making the property ideal for continued use as a restaurant, or any number of alternative uses.

For more information about the area, please visit:
http://www.baltimorecountymd.gov/
http://myneighborhood.baltimorecountymd.gov/
and
http://www.catonsville.org/

SITE:

  • Level lot - corner Johnnycake Road
  • Contains 24,200 square feet, or 0.56 acre, more or less (according to tax records)
  • Fronts approximately 125' on Baltimore National Pike, and 125' on Johnnycake Road
  • Two curb-cuts - one each on Baltimore National Pike and Johnnycake Road
  • Macadam paved parking lot for up to 80 cars (see attached documentation for shared parking arrangement)
  • All public utilities

Site Drawing (pdf)

Reciprocal Parking Agreement (pdf)

Tax Map
baltimorenational5600 taxmap

Zoning:
BM CCC - Business Major; Commercial, Community Core
DR 5.5 Residential - a small portion of the rear lot along Johnnycake Road
For zoning information, please visit:
- MyNeighborhood.BaltimoreCountyMD.gov/
- Citizen's Guide to Zoning (pdf)

Zoning Map
baltimorenational5600 zoning map

IMPROVEMENTS:
One and One-Half Story Freestanding Restaurant Building (former IHOP) - according to public records, the building was constructed in 1967 and contains 3,916 square feet of gross building area.  The building is currently occupied by Shirley's Family Diner (lease information below).

Exterior
Stucco and brick facade
Shingle roof
Large pole sign and additional illuminated changeable letter sign

Interior
First Floor -
Entry vestibule - 2 sided, ceramic tile floor
Waiting area - carpet, bench seating
Seating area - 101 seats (90 booth), carpet, acoustical tile, two ceiling fans
Front kitchen - open cooking area, ceramic tile floor, equipment (owned by tenant)
Rear kitchen - prep. and cleaning area, ceramic tile floor
Storage area - walk-in box and equipment storage
Two restrooms

Second Floor -
Office
Employee area
4 storage rooms - dry storage, materials storage etc.

Mechanical
Gas forced air heat
Central air conditioning
3 phase electrical service

Shirley's Family Diner has occupied the property for more than three years, and is currently a month-to-month tenant paying $6,300/mo.

Please complete and return the Waiver and Confidentiality Agreement (pdf) to receive the 2013 Income and Expense Statement, 2014 Income and Expense Statement, Lease Abstract and Full Lease.

TITLE:
The property is in fee simple and sold free and clear of liens.

TAXES:
Baltimore County Tax Account No. 0115640241.  Published annual taxes for 2014-2015 are $13,396.39 based on a full value assessment of $728,500.

TERMS OF SALE:
A $40,000 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. All adjustments, including taxes, rents, 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 settlement 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!

Orme Trust by: Matthew A. Mace, Trustee