410-296-8440
www.ajbillig.com
6500 Falls Road, Baltimore, MD 21209
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"Ocean City, MD"

Landmark Corner Commercial Property
Occupied by English's Chicken Since 1963
0.53 +/- Acre - Zoned LC-1 - 5,730+/- Sq. Ft. Building with Parking for 50 Cars
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Listing Details

Sold Price
$1,800,000
Auction Date
Auction Time
12:00 PM
Auction Note
Coastal Highway at Corner 15th Street
Address
1500 Philadelphia Avenue, Ocean City, MD, 21842
County
Worcester County
Neighborhood
Ocean City
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OCEAN CITY, MD

LANDMARK CORNER
COMMERCIAL PROPERTY
Occupied by English's Chicken Since 1963

Outstanding Redevelopment Parcel

0.53± Acre ◆ Zoned LC-1
5,730± Square Foot Building
Paved Parking for 50 Cars

Known As:
1500 Philadelphia Avenue
COASTAL HIGHWAY 
At Corner 15th Street
Worcester County, MD 21842

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 at the northeast corner of Philadelphia Avenue (Coastal Highway - MD-528) and 15th Street, one block west of the boardwalk and Atlantic Ocean, two blocks east of Assawoman Bay.  English’s Chicken, an iconic Eastern Shore eatery established in 1937, has owned and operated a restaurant at this corner since 1963.

A traffic signal is at the intersection of Philadelphia Avenue and 15th Street.  The property has excellent visibility from north-south and east-west traffic.  Public bus service is at the site.  Maryland State Highway Administration traffic data from 2013 shows a daily traffic count exceeding 25,000 vehicles per day.

Surrounding properties are a mixture of motels, freestanding retail buildings, shopping centers, small apartment buildings, newly constructed homes and condominium units.

SITE:
The property is comprised of two, level contiguous lots:

1500 Philadelphia Avenue - Tax Account #10-040442
Corner 15th Street, rectangular lot fronts approximately 138' along Philadelphia Avenue (Coastal Highway -MD-528) by 60' along 15th Street, comprising 8,230 square feet of land or 0.19 acre.  The property is improved by the restaurant building with paved parking.  Public water, sanitary sewer, gas, electricity, telephone and Internet service are in the site.

15th Street - Tax Account #10-040450
Adjacent to 1500 Philadelphia Avenue on the east, asphalt paved, rectangular lot fronts approximately 106' along 15th Street by a depth of 138', comprising 14,634 square feet or 0.34 acre.

Both properties will be sold together.  There are two curb cuts along the north side of 15th Street.  The site is bounded on the west and south by concrete sidewalks with public street lighting.

ZONING:
LC-1, Local Commercial District, a commercial land use district allowing a variety of business and residential uses.  The site is also located in a BT-R, Beach Transfer Overlay district.   For additional information see: Ocean City, MD Code of Ordinances

IMPROVEMENTS:
One Story Restaurant Building - constructed in 1963 and containing approximately 5,730 square feet of gross building area

TITLE:
The property is in fee simple and sold free and clear of all liens.  For deed references see the Worcester County Land Records Deed Book/Pages - 168/326, 165/274 and 2856/84.

TAXES:
Published annual real estate taxes for the two parcels are $18,154.62.

TERMS OF SALE:
A 10% deposit, payable by certified check or cashier's check, will be required of the Purchaser at time and place of sale.  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 contract to date of settlement.  All adjustments, including taxes, 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 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 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.

Exclusions - Signs will be removed prior to settlement.  The trade name "English's" is not included in the sale. Additional exclusions: artwork on walls in the dining room; ice maker.

No buyer's premium.

Sale by order of The English Company

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