Absolute Above $150,000 - "Station North Arts & Entertainment District"

Commercial Building
6,238 +/- Sq. Ft., On-Site Parking, Zoned B-2-3
5 Commercial Units - $49,800 Gross Annual Rent
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Listing Details

Sold Price
$224,000
Auction Date
Auction Time
12:15 PM
Address
2116 N. Charles Street, Baltimore, MD, 21218
County
Baltimore City
Neighborhood
Station North, Old Goucher
Inspection
Available for inspection by 11:30 a.m. the day of the auction only. Call 410-296-8440, or email info@ajbillig.com for additional information.
Additional Documents
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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★ ABSOLUTE AUCTION ★
To The Highest Bidder Above $150,000

"Station North - Old Goucher"
COMMERCIAL BUILDING
6,238± Sq. Ft. On-Site ParkingZoned B-2-3

 $49,800 Gross Annual Rent 

Sale On Premises
2116 N. CHARLES STREET
(5 - Commercial Units)
Off 21ST Street
Baltimore, Maryland 21218

WEDNESDAY, APRIL 22, 2015
AT 12:15 P.M.

LOCATION:
The property is located in the up and coming newly designated Station North Arts and Entertainment District, just south of the Charles Village area of central Baltimore City, officially in the "Old Goucher" neighborhood.  The neighborhood is among the best known and in demand neighborhoods in the Baltimore area. A major reason for the popularity is the proximity to Johns Hopkins University's Homewood Campus, which is just minutes to the north. Other major employers are also nearby, including Union Memorial Hospital and Downtown Baltimore about 5-10 minutes to the south. The neighborhood features eclectically styled homes, substantially comprised of townhomes, many of which feature Victorian Era and Classic Revival architectural details. Area commercial properties comprise mostly apartment buildings, office buildings, boutique stores and restaurants.  A newly constructed Safeway grocery store is several blocks to the north.  Nearby museums include the Baltimore Museum of Art and Walters Art Gallery.  Penn Station and the Jones Falls Expressway (I-83) are located several blocks to the south.

For more information on the Station North Arts and Entertainment District, visit:
http://www.stationnorth.org/about

The soon to open $18.5 million Centre Theatre project is situated several blocks to the north:
Baltimore Sun story on Centre Theatre

For more information on Old Goucher, visit:
LiveBaltimore - Old Goucher

SITE:
Rectangularly shaped parcel fronting 29' along N. Charles Street with depths of 150', more or less.

On-site paved rear 6-vehicle parking

IMPROVEMENTS:
The improvements consist of a 4 level brick commercial building comprising 6,238 square feet above grade, more or less (according to SDAT tax records).  The building has vinyl replacement windows and individually metered rental units.  There are hallway rest rooms on all three upper floors.  The interior is arranged as follows:

Street Level
Currently leased to a non-profit known as Soccer Without Borders Corp. for $1,000/month.  The lease increases to $1,100/month 8/1/2015, $1,200/month 8/1/2016, $1,250/month 8/1/2016 and $1,295/month 8/1/2018 (ending 7/31/2019).  Large front room, private office, conference room, 2 rest rooms and furnace/utility room. The space has self contained gas hot water heat and central air conditioning.

 

 

Upper First Floor - Front
Currently leased to a barbershop for $900/month on a month-to-month basis.  Space comprises two large rooms.  Oil steam heat (central) and self-contained central air conditioning.

 

 

Upper First Floor - Duplex
Was leased for $600/month on a month-to-month basis (tenant is moving out).  Space comprises three rooms on the first floor and an interior stairway walk-up to a large room on the second floor rear.  Oil steam heat (central).

Second Floor - Duplex
Currently leased to a sound/record studio known as Street Legal Entertainment, Inc. for $950/month on a month-to-month basis.  Area comprises 5 rooms and one additional large room in the rear of the third floor.  Oil steam heat (central).

 

 

Third Floor - Front
Currently leased to a videography studio for $700/month on a month-to-month basis.  Area comprises 5 rooms.  Oil steam heat (central).

 

 

Mechanical

  • Modern Burnham hot water boiler
    charles2116 INT-Boiler-Furnace
  • Separate central air conditioning units for street level unit and for the barbershop
  • 50 gallon gas fired water heater

ZONING:
B-2-3, commercial.   The last permitted use according to the Baltimore City Office of Planning and Zoning is for a barbershop.

For additional zoning information, please check with the Baltimore City Office of Planning and Zoning for complete potential and permitted uses for the property (410-396-4126) or visit: http://www.baltimorecity.gov/Government/CityCharterCodes.aspx

TITLE:
In fee simple.  The property is being sold free and clear of all liens and encumbrances.

REAL ESTATE TAXES:
Annual 2014-2015 Real Estate Taxes - $7,514 (based on a full value tax assessment of $318,400).  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 SDAT concerning the appeals process and may see the following link for helpful information: http://www.dat.state.md.us/sdatweb/appeal.html

INSPECTION:
Available for inspection by 11:30 a.m. the day of the auction only.  Call 410-296-8440, or email info@ajbillig.com for additional information.

TERMS OF SALE:
Deposit payable by certified or cashier's check of $15,000 will be required of the purchaser at time and place of sale.  The deposit shall be increased to 10% of the purchase price within 24 hours at the office of the Auctioneers.  Balance to be paid in cash at settlement, which shall take place within 45 days. If payment of the balance of the deposit or balance of the purchase price 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. Taxes, rents 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 settlement and assumed thereafter by the purchaser. The property will be sold subject to the rights of the existing tenants, and is being sold in "AS IS" condition, without express or implied warranty as to the nature and description of the improvements as contained herein; and subject to easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser assumes risk of loss from the date of sale forward.  The purchaser waives and releases the Owners, 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 Owners 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 Owners or Auctioneer.  Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the purchaser, except where otherwise mandated by local, State or Federal law.  Time is of the essence. NO BUYER'S PREMIUM!