"Catonsville"

Office Building with On-Site Paved Parking
8129.jpg

Listing Details

Sold Price
$285,000
Auction Date
Auction Time
2:00 PM
Address
9 Newburg Avenue, Catonsville, MD, 21228
County
Baltimore County
Neighborhood
Catonsville
Additional Documents
Survey
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

Use Mobile?
8130.jpg
8130.jpg
8131.jpg
8132.jpg
8133.jpg
8129.jpg

REAL ESTATE AUCTION

CATONSVILLE

3 - MIXED-USE
COMMERCIAL BUILDINGS
Retail, Office & Residential Rental Units
On-Site Paved Parking

To be Offered Individually & As An Entirety

Excellent Cash Flow
$150,000+ Gross Annual Rentals

Sale On Premises
821-823 FREDERICK ROAD
825-827 FREDERICK ROAD
9 NEWBURG AVENUE
Baltimore County, MD 21228

WEDNESDAY, JULY 8, 2015
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.

GENERAL INFORMATION:
The auction consists of three multi-unit buildings, which will be offered individually and in groupings:

  • 821-823 Frederick Road - 2 retail stores, apartment and office - renovated in 2005
  • 825-827 Frederick Road - 3 commercial units, 3 apartments - may be the oldest building in Catonsville
  • 9 Newburg Avenue - 3 office units with 12 adjacent parking spaces
  • Additional shared parking on rear parking lot

LOCATION:
The three properties are located along Frederick Road, in the heart of Catonsville’s Main Street-type commercial district.  Catonsville is an historic residential community, located in western Baltimore County, west of Baltimore City and east of Ellicott City.  Businesses along Frederick Road are occupied by locally owned concerns and national chains. The area is designated as a Baltimore County Commercial Revitalization District, which provides interest free loans for outdoor improvements, free architectural services, commercial revitalization tax credits and grants.  A major street scape renovation along Frederick Road, including brick sidewalks and street lighting, has been completed.  Storefronts along Frederick Road are nearly 100% occupied.

Catonsville is attractive to area residents, due to its close proximity to the Baltimore Beltway (I-695), I-95, and the MARC commuter train. leading to employment centers in Washington and Baltimore.  The Social Security Administration Headquarters, in Woodlawn, along with major regional employers is a five minute drive north along the Beltway.  Homes in Catonsville are diverse, including Victorian cottages, custom mid-century residences and subdivision housing.

Links for additional information:

http://en.wikipedia.org/wiki/Catonsville,_Maryland

http://www.baltimorecountymd.gov/Agencies/planning/neighborhoodresponse/commrevitalization  

http://www.catonsville.org

SITE:
821-823 Frederick Road - 36' x 150', comprising 5,400 square feet or 0.12 acre; zoning BL-CCC, business local

825-827 Frederick Road - 57' x 150', comprising 8,550 square feet or 0.20 acre; zoning BL-CCC, business local

9 Newburg Avenue - 70' x 102', comprising 7,162 square feet or 0.60 acre; zoning ROA, residential office and a small portion appears to be zoned BL-CCC, business local.

Utilities - public utilities are in the properties

Topography - the lots are level, rectangular and mostly clear, excluding the improvements.

Parking - All three properties border a common asphalt paved parking lot.  A long-term parking lot lease was established by the property owner to provide for shared parking and designates certain parking rights for apartment tenants.  Payments under the lease are nominal.  The parking lot lease term runs for five years, expiring on December 31, 2019 and has four additional five-year options.  Limited on-street parking is available on Frederick Road and Newburg Avenue.  9 Newburg Avenue has 12 parking spaces, which adjoin the common parking lot.

A landscaped courtyard is located behind the 821-827 Frederick Road buildings, which could be paved for additional parking.

Aerial Photo
frederick821etc gisaerial

Baltimore County Zoning Map
frederick821etc zoning

Survey


IMPROVEMENTS:

821-823 Frederick Road - Two Story Building - according to public tax records, the building was constructed in 1885 and contains 2,424 square feet. The front portion abuts 819 Frederick Road.  The building has exterior walls of stone and vinyl siding, Pella vinyl-clad double-hung replacement windows and composition shingle roof.  Tenants include:

  • You Scream Ice Cream
  • Bike Shop
  • Apartment - living room, eat-in kitchen, loft bedroom, full bath
  • Office - general office area and rest room

Each tenant has a separate entrance, separate HVAC and separate meters.  All tenant spaces are occupied.

825-827 Frederick Road - 2 - Two Story Buildings - according to public records, the buildings date to 1875 and contain 5,241 square feet.  Exterior is vinyl sided, with replacement windows and composition shingle roofs. A new shingle roof was installed in 2014.

Front Building Tenants:

  • Bike Shop showroom
  • Bike Shop repair garage
  • Apartment of living room, dining room, kitchen, 2 bedrooms and bath
  • Apartment of living room, dining room, kitchen, bedroom, den and bath

Rear Building Tenants:

  • Pottery Studio
  • Apartment of kitchen/living area, 2 bedrooms and bath

Each tenant has a separate entrance, separate HVAC and separate meters.  All tenant spaces are occupied.

9 Newburg Avenue - Two Story Converted Victorian Home with one story extension - public tax records indicate the building was constructed in 1900 and contains 2,210 square feet.  The exterior is vinyl siding, has a composition shingle roof, vinyl-clad double-hung replacement windows and covered front porch.  Interior finishes are plaster, drywall, acoustical tile ceilings and carpeting.

Tenants include:

  • Attorney Suite - reception area, general office area, 3 private offices and rest room
  • Cosmetic Company - office and rest room
  • Attorney Suite - 3 offices, rest room, attic storage

Each tenant has a separate entrance.  Utility costs are split between the tenants.  The building has gas forced air heat, central air conditioning, one electric, gas and water meter, a waterproofed unfinished basement and stone foundation.

ADDITIONAL INFORMATION:
Please complete the Waiver and Confidentiality Agreement to receive:

  • Rent Roll
  • Income & Expense Information
  • Parking Lot Lease
  • Tenant Leases

TAX INFORMATION:
2015 published annual real estate taxes:

821-823 Frederick Road, Tax Account #0103000902 - $4,074.56
825-827 Frederick Road, Tax Account #0106350100 - $7,046.17
9 Newburg Avenue, Tax Account #2500005419 - $6,695.70

TITLE INFORMATION:
All three properties are in fee simple and sold free and clear of liens.  821-823 Frederick Road Deed Liber 17513/478; 825-827 Frederick Road Deed Liber 17513/247; 9 Newburg Avenue Deed Liber 35663/49.

MANNER OF SALE:
First offering - 821-823 Frederick Road; second offering - 825-827 Frederick Road; third offering - 821-823-825-827 Frederick Road together; fourth offering - 9 Newburg Avenue; fifth offering - entirety.  The bids under each offering will be reserved and the sale will be made in the manner producing the greater amount.

TERMS OF SALE:
A $25,000 deposit on each property or $75,000 if sold as an entirety, 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 a monthly or 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, and subject to the rights of the existing tenants and leases.  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. The purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law.   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.