"Greektown - Southeast Baltimore"

End-Of-Group Tavern Building
Suitable For Redevelopment
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Listing Details

Sold Price
$56,000
Auction Date
Auction Time
10:30 AM
Address
300 Oldham Street, Baltimore, MD, 21224
County
Baltimore City
Neighborhood
Greektown, Southeast Baltimore
Inspection
The building may be inspected 45 minutes prior to the auction.
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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REAL ESTATE AUCTION

GREEKTOWN
Southeast Baltimore

End-Of-Group
TAVERN BUILDING
- Suitable For Redevelopment -

Sale On Premises
300 OLDHAM STREET
(a/k/a 300 S. Oldham Street)
Corner 4700 Block Gough Street
Baltimore City, MD 21224

WEDNESDAY, JULY 15, 2015
AT 10:30 A.M.

- SUGGESTED OPENING BID: $35,000 -

    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:
The property is located in the Greektown neighborhood in southeast Baltimore City. Greektown is among the best known communities in Baltimore City, featuring great restaurants, festivals and multiple generations of families that have called the neighborhood home. Expansion of Johns Hopkins Bayview and other major employers is a current driving factor for the neighborhood and new residential construction in the area typifies that growth.

300 Oldham Street sits at the corner of Gough Street, with each street offering parking on both sides. Access to I-895 is less than a block away, and I-95 is immediately to the southeast. The corner position of the property offers great signage along a well trafficked route, offering an excellent opportunity for many different types of businesses. The property may also be well suited for residential conversion.

For more information about Greektown, please see:
http://livebaltimore.com/neighborhoods/greektown/
and
http://www.greektowncdc.org/index.html

SITE:
Rectangular lot: 14' front by 70' deep

Zoning: R-8, residential, last permitted use as a tavern

Public water, sewer, gas, electricity, telephone

IMPROVEMENTS:
Two story brick end-of-group formstone front building - according to public tax records the building was constructed in 1915 and contains 1,666 square feet of living area and a full, unfinished basement.

Exterior
Brick construction with formstone facade
Vinyl-clad replacement windows and commercial pane windows
Flat roof
Front and side entrances with vestibules

First Floor
Bar area - paneled walls, drop ceiling

  • 10+ person bar with laminate top
  • Additional seating area for 3-4 two person high top tables
  • Bar shelving
  • *Equipment: draft system, multiple drop-in coolers, stainless three compartment bar sink

Two powder rooms

Kitchen

  • *Equipment: 4 burner range, flat grill, side-by-side fridge/freezer, walk-in box, overhead sprinkler exhaust system

*Most equipment seems to be dated and in poor repair. Operational condition of equipment is uncertain.

Second Floor
Billiard room - drop ceiling, carpet, 3-4 seat wet bar, pool table
Powder room
Storage closet

Basement
Full unfinished basement
Storage shelving
Utility sink
Mechanical area

Mechanical
Gas forced air heat
200 amp. electric
40 gallon gas fired water heater

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

TAXES:
Published real estate taxes for 2014-2015 are $2,727.39, based on a full value assessment of $115,567. 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:
The building may be inspected 45 minutes prior to the auction.

TERMS OF SALE:
A $3,000 deposit, payable by 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, ground rent, 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 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 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 except where otherwise mandated by local, State or Federal law.  Time is of the essence.

NO BUYER'S PREMIUM!