"Remington"

Landmark Corner Commercial Building
Sterling's Crab & Oyster House
Real Estate, Equipment, Liquor License
& Adjacent Two Story Home
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Listing Details

Sold Price
$280,000
Auction Date
Auction Time
11:00 AM
Address
401 W. 29th Street & 2830 Miles Avenue, Baltimore, MD, 21211
County
Baltimore City
Neighborhood
Remington
Inspection
The properties will be open for inspection 1 hour before 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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PUBLIC AUCTION SALE

"Remington"

LANDMARK CORNER
COMMERCIAL BUILDING
Operated as
Sterling's Crab & Oyster House
Established 1949
Real Estate ◆ Equipment ◆ Liquor License
Known As
401 W. 29TH STREET
(a/k/a 2832 Miles Avenue)

And Adjacent
Two Story Home
2830 MILES AVENUE
Baltimore City, MD 21211

Sale on Premises
TUESDAY, JULY 7, 2015
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.

GENERAL INFORMATION:
The auction consists of two adjacent properties:

401 W. 29th Street, also known as 2832 Miles Avenue, operated as Sterling's Crab and Oyster House, a seafood carry-out restaurant for 66 years.  The property is located on the southwest corner of W. 29th Street and Miles Avenue in the Remington Area of Baltimore.  Other assets include a 6-Day Beer, Wine & Liquor Class A Off-Sale Package Goods License and the restaurant fixtures and equipment.

2830 Miles Avenue is a freestanding two story porchfront home.  The property is currently tenant occupied at $800/month (month-to-month tenant, no lease).

The auction will be conducted as follows:

  • First Offering - 401 W. 29th Street - real estate, fixtures and equipment
  • Second Offering - 401 W. 29th Street - 6-day liquor license
  • Third Offering - Entirety of real estate, equipment and liquor license
  • Fourth Offering - 2830 Miles Avenue - real estate
  • Fifth Offering - All properties and assets as an entirety

Determination of the final sale disposition will be announced at time of sale.

LOCATION:
Remington is located in north Baltimore, east of the Jones Falls, west of Charles Village, south of Johns Hopkins University, Hampden and Wyman Park and north of the Station North Arts and Entertainment District.  According to Wikipedia, "Remington shared its early history with other nearby communities that grew up alongside the mills built along the Jones Falls, whose 260-foot (79 m) drop powered grist mills, iron foundries and textile mills. In addition to the water-powered factories along the Jones Falls, quarries in the Remington area operated for over 100 years and provided an enormous amount of stone for the building of Baltimore, furnishing material for thousands of foundations, walls and steps.

"The neighborhood was named after William Remington, an early landowner who held property in the center of the area. As the population grew with the mills and quarries, America's first electric railway, built in 1885, brought new residents. Remington became an attractive suburb and was annexed into the city in 1888. Extensive building occurred from 1914 through the 1920s, with daylight and marble row houses being the dominant types. Marble row houses were characterized by their flat or slightly bowed fronts and featured decorative marble and stained glass. The more elaborate daylight row houses became popular in the 1920s and featured a window in each room, often including a skylight in interior rooms.

"Remington is part of the Baltimore's Healthy Neighborhoods initiative, a ground-breaking effort to stabilize "strong yet undervalued" neighborhoods in the city. Homeowners and home buyers are eligible for special financing for renovating and/or improving existing homes. Several dozen properties in Remington have benefitted from the Healthy Neighborhoods program, often turning dilapidated and vacant houses into productive, modern occupied residences.  Remington is home to an eclectic mix of dozens of commercial and light industrial enterprises representing hundreds of jobs. Businesses include several restaurants, corner markets and convenience stores, auto repair shops, daycare centers, taverns, supply warehouses and churches."

In recent years, former industrial and commercial properties in Remington have been or are planned to be repurposed.  A former loft building at 2601 N. Howard Street, now known as Millers Court, was recently converted to apartments for Baltimore City teachers and 30,000 square feet of office space dedicated to non-profit use.  25th Street Station, an eleven acre site formerly occupied by an automobile dealer, is planned to be a community retail center.  Smaller projects are currently taking place in Remington.

The auction properties are located at 29th Street and Miles Avenue, about five blocks east of the Jones Falls Expressway.  29th Street is the major east to west traffic artery in the community and a traffic signal is located at the corner of 29th and Miles.  Sterling's Crab and Oyster House has been a community anchor since 1949 and is well known to Remington residents and passers by.

Link for LiveBaltimore's description of Remington:
http://livebaltimore.com/neighborhoods/remington/#.VWYchtKjPaA

SITE:
401 W. 29th Street (a/k/a 2832 Miles Avenue) - rectangular lot fronting 55' along W. 29th Street and 22' along Miles Avenue, comprising 1,210 square feet of land.  Known as Lot 69 on Baltimore City  Block 3652

2830 Miles Avenue - rectangular lot fronting 22' along Miles Avenue with a depth of 55', comprising 1,210 square feet of land.  Known as Lot 68 on Baltimore City Block 3652

Public water, sanitary sewer, natural gas, electricity and telephone are in the properties.  The lots are improved by the buildings and concrete paved.  A 10' alley runs along the west side of both lots.

Zoning - both properties are located in a B-3-2, community commercial district.

IMPROVEMENTS:
Sterling's Building - 401 W. 29th Street (a/k/a 2832 Miles Avenue) - two story freestanding vinyl sided building with a one story masonry addition, comprising a carry-out restaurant and a two story masonry warehouse addition with loading dock.  The two story original structure has a pitched composition shingle roof.  The additions have built-up roofs.  According to published tax records, the structure dates to 1910, contains 1,701 square feet of gross building area and 798 square feet of basement space.

The carry-out portion contains a service counter with refrigerated showcases, ceramic tile floor, two aluminum commercial entrance doors, two show windows, commercial kitchen, crab steaming area, walk-in refrigerator and walk-in freezer.  The second floor has an office, steam boiler and dumbwaiter.  The customer portion of the building has an electric heat pump and central air conditioning.  The balance of the building has gas forced air heat.

2830 Miles Avenue - two story vinyl sided covered porchfront freestanding townhome.  According to published tax records, the home was built in 1920, contains1,064 square feet of gross living area and 532 square feet of basement space.  The house has aluminum double hung replacement windows and a pitched composition shingle roof.  The interior contains a living room, dining room and kitchen, on the first floor; 3 bedrooms and bath, on the second; 220 volt electrical service, gas forced air heat and central air conditioning.  The tenant has occupied the home for many years and is paying $800/month on a month-to-month basis.  The rent could be substantially increased.

The walk-in cooler at 401 W. 29th Street extends behind the home at 2830 Miles Avenue.  If the properties are sold separately, the purchaser of 401 W. 29th Street will have the option to pay the purchaser of 2830 Miles Avenue a monthly rental of $100 for the continued use of the rear of the property under a ten year lease to be created at settlement, or remove the walk-in cooler.

TITLE:
The properties are in fee simple and sold free and clear of liens.  Baltimore City Deed Liber 6864, Page 744.

TAXES:
401 W. 29th Street (a/k/a 2832 Miles Avenue) - published annual real estate taxes are $4,635.81, based on a full value assessment of $201,900.

2830 Miles Avenue - published annual real estate taxes are $2,786.39, based on a full value assessment of $124,200.

LIQUOR LICENSE:
6-Day Class A Beer, Wine and Liquor License - permits sales for off-premises consumption only.  The transfer of this liquor license is subject to the approval of the Board of Liquor License Commissioners of Baltimore as in the case of an original application, and it shall be the sole responsibility of the purchaser to obtain said approval.  The license is sold free and clear of liens.

TERMS OF SALE:
Real Estate - A $10,000 deposit on each property, payable by cashier's check, will be required of the Purchaser at time and place of sale.  If sold as an entirety with the liquor license, the deposit shall be $22,500 at the time of sale.  Deposit(s) 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, 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 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.   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.

Liquor License - A $2,500 deposit by cashier's check is required of the purchaser at the time and place of sale.  If sold separately, balance to be paid within 48 hours. If sold with the real estate at 401 W. 29th Street, balance due at the real estate settlement.  Time is of the essence.

No buyer's premium.