"South Baltimore"

INDUSTRIAL FACILITY
94,350+/- SF on 3.505+/- Acres
Zoned M-3, Heavy Industrial
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Listing Details

Sold Price
$1,923,000
Auction Date
Auction Time
11:00 AM
Address
1026 E. Patapsco Avenue, Baltimore, MD, 21225
County
Baltimore City
Neighborhood
South Baltimore
Inspection
The property is available to inspect by appointment only. Please email info@ajbillig.com or call 410-296-8440 to request an appointment.
Additional Documents
Floor Plan
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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This Auction has been CANCELED.
Sold Prior To The Auction

Corporate Dissolution:
REAL ESTATE AUCTION

SOUTH BALTIMORE
INDUSTRIAL FACILITY
94,350± SF ◆ 3.505± Acres
Zoned M-3, Heavy Industrial

Known As
Ansam Metals Property
1026 E. PATAPSCO AVENUE
Brooklyn, Maryland 21225

Sale On Premises
CANCELED
Sold Prior To The Auction
THURSDAY, SEPTEMBER 22, 2016
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.

LOCATION:
1026 E. Patapsco Avenue is located in the Brooklyn/Fairfield area of southernmost Baltimore City, south of the Port of Baltimore, Port Covington and the Patapsco River, and west of Curtis Bay.  The surrounding area is a mixture of industrial, commercial and residential land uses, located about two miles south of Downtown Baltimore.  There is a strong workforce within the community.  

Interstate Highway linkage to the area is excellent, via I-95, I-895 and the Baltimore Beltway (I-695).  Regularly scheduled public bus transportation is along Patapsco Avenue.  The property is 15 minutes from BWI Marshall Airport and Penn Station (Amtrak).  The area is served by railroad and is near a deep-water port.

The property is located in a Baltimore City "Enterprise Zone," providing an opportunity for:

Real Property Tax Credits

  • 10-year tax credit on incremental increase in property taxes resulting from real property improvements
  • 80 percent tax credit years 1-5
  • Decreases 10 percent annually years 6-10
  • Tax credit goes to the property owner

Income Tax Credits

  • $1,000 tax credit per new employee
  • $6,000 tax credit over 3 years for hiring economically disadvantaged employee
  • Credit may be carried forward for 5 years
  • Credit may be claimed by any firm located within Enterprise Zone eligible property that adds new employment meeting certain requirements

For additional information visit http://baltimoredevelopment.com/incentives/enterprise-zone

A $5.5 billion project is planned by Sagamore Development for the 260-acre Port Covington site, just north of Brooklyn.  The Port Covington development is projected to bring thousands of jobs and housing units to the area and rejuvenate communities surrounding Baltimore's port and industrial hub.

SITE:
3.505 acres fronting on a 50' wide private road leading from the north side of Patapsco Avenue.  The site is fairly level, bounded by the CSX railroad on the north and similar industrial facilities on the east, south and west.

Three, asphalt paved, fenced yards

Truck scale

All public utilities - public water, sewer, gas, electricity, telephone, internet

Zoning M-3, heavy industrial, permitting a wide variety of storage, processing and manufacturing uses.  Please refer to the Baltimore City Zoning Code for additional details.
For more information, see the Baltimore City Zoning Code.

According to FEMA Flood Map Panel #240087-0016D, the site is believed to be in Zone X, beyond the 100-year flood hazard area.

IMPROVEMENTS:
The property is improved by a one story masonry industrial building with a two story office addition.  The building was constructed in sections, dating from 1925 (according to Baltimore City tax records), with major additions in the 1960's, 1970's and 1980's.  Ansam Metals, the property occupant, was a recycler and trader of non-ferrous metals, operating in the property from 1968 to 2015.

The building is believed to contain approximately 94,350 square feet of gross building area, of which approximately 8,300 square feet is finished office space.

Industrial Portions

  • Concrete block foundations and footers
  • Concrete block walls, some brick trim
  • Ceiling heights 14' to 18'
  • Built-up roofs over steel joists, timber joists in older sections, one pitched roof, standing seam metal roofs on outdoor sheds
  • Heavy concrete floors
  • Dry sprinkler system
  • Heavy floor scale, cranes
  • 4 - Loading Docks with levelers (2 docks are covered)
  • Drive-in loading doors
  • Shop Office, 4 - Rest Rooms, Break Room
  • Heavy single and three-phase electrical power
  • Spot heaters, assorted lighting

Office

  • Acoustical tile ceilings with florescent lighting, carpeting, drywall, contemporary finishes
  • General Office area
  • 2 - Conference Rooms
  • Executive Office with shower bath
  • Second General Office area - used as trading floor
  • 2 - additional Executive Offices
  • Reference Room
  • IT Office
  • 2 - Rest Rooms
  • Break Room
  • Central heat and air conditioning

TITLE:
The property is in fee simple and sold free and clear of liens.  Baltimore City Deed Liber 0673, Folio 211.

TAX INFORMATION:
Published annual real estate taxes for 2016-2017 are $37,600.30, based on a full value assessment of $1,593,233.  The property is identified as Lot 17A on Baltimore City Block 7274.

ADDITIONAL INFORMATION:Phase I and II Environmental Reports are available to review. Please complete this Waiver and Confidentiality Agreement, sign it and return it to the office of the Auctioneer by fax: 410-296-4420 or email: info@ajbillig.com.

TERMS OF SALE:
A $100,000 deposit, 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. 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 a monthly or annual basis, and sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of contract 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 contract 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.

No buyer's premium.

Auction conducted in cooperation with Gold and Company, LLC