Dissolution of Partnership:
REAL ESTATE AUCTION
- Anne Arundel County, MD -


2 - MODERN
OFFICE BUILDINGS

- To Be Offered Individually -

Immediate Cash FlowRedevelopment Potential




"Hammonds Lane Medical Center"
606 & 615 HAMMONDS LANE

Baltimore, Maryland 21225

Sale On Premises
WEDNESDAY, NOVEMBER 16, 2005
AT 11:00 A.M.


LOCATION:

Situated in the well established North Linthicum area of northern Anne Arundel County, west of the 6000 block of Ritchie Highway (MD-2) and east of Baltimore-Annapolis Boulevard (MD-648). MTA Light Rail and bus service are within one-half mile of the site. The project is about 2.5 miles northeast of BWI Airport and 3 miles south of Downtown Baltimore, within a short commute of Washington, DC and Annapolis.

LOCATION MAP

Directions: From Beltway (I-695) Exit 5 follow MD-648 north one block to Hammonds Lane. Turn right on Hammonds Lane to property.

Hammonds Lane Medical Center consists of two buildings located on the north and south sides of Hammonds Lane. Each building has good visibility from east or westbound Hammonds Lane.

STREET VIEW #1      STREET VIEW #2


606 HAMMONDS LANE

PHOTO #1      PHOTO #2      SIGN

IMPROVEMENTS:

Two story brick office building constructed in 1977. The building has separate exterior tenant entrances and is at grade in the front and rear. Originally configured for six tenant spaces on each level, the entire upper level is currently under lease until 2014 with annual rent increases. One of six first level units is occupied under a month-to-month agreement - tenant wants to sign a lease but current owner, anticipating a sale, did not want to commit. The lower level faces front and may present an opportunity for offices or other permitted business uses. Gross leasable area is 15,200 square feet.

The building has a flat built-up roof that was recoated in 2004 by Advance Moisture and Waterproofing, with a 10 year warranty. Each tenant space has separate heat pump and central air conditioning system(s) and is separately metered. Interior spaces are typical drywall, suspended ceilings with florescent lighting and carpeted or vinyl floors. Tenant spaces have at least one rest room.

FLOOR PLANS

Interior Photos:

PHOTO #1      PHOTO #2      PHOTO #3      PHOTO #4

SITE:

The property fronts 252' along the north side of Hammonds Lane, with depths of 407' and 444' and a rear lot line of 254' comprising 2.465 acres. The site is landscaped and asphalt paved for approximately 84 cars on both sides of the building.

METES AND BOUNDS DESCRIPTION

UTILITIES:

Public water, public sewer and electric service

ZONING:

C2 - Commercial Office, permitting offices, banks and other business uses. Prospective purchasers are encouraged to perform their own due diligence with regard to the permitted uses of the site.

For more zoning information, see the Anne Arundel County Zoning Code:
http://www.aacounty.org/CountyCode/Resources/Article27CleanCopy.pdf

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TAX
INFORMATION:


Anne Arundel County Tax Map 4, Grid 6, Parcel 30
2006 Real Estate Taxes $9,851.17

TITLE:

In fee simple. Deed Liber 11568, folio 596. The property will be sold free and clear of all liens.

ADDITIONAL
INFORMATION:

Please print and return the Waiver & Confidentiality Agreement for copies of the current rent roll, income and expense data and lease for upper level space.

WAIVER & CONFIDENTIALITY AGREEMENT

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REQUIRED
DEPOSIT:


$100,000


615 HAMMONDS LANE

PHOTO #1      PHOTO #2      PHOTO #3      SIGN

IMPROVEMENTS:

One story brick medical office building, constructed in 1967. The building contains approximately 9,856 square feet of gross leasable area, of which 2,340 square feet are tenant occupied under lease until 2010 and approximately 723 square feet are vacant but leased with rent being paid until 2007. The building has separate exterior tenant entrances and is currently configured into nine tenant spaces.

The structure has a flat built-up roof, replaced in 2003. Interior spaces are typical drywall, suspended ceilings with florescent lighting and carpeted or vinyl floors. Tenant spaces have at least one rest room. Heat is provided by a gas fired hot water heating system. Cooling is provided by a Carrier 30 ton system installed in approximately 1994.

FLOOR PLANS

Interior Photos:

PHOTO #1      PHOTO #2      PHOTO #3

SITE:

Triangular lot, opposite 606 Hammonds Lane, comprising 0.883 acre. The property is asphalt paved for approximately 41 cars.

METES AND BOUNDS DESCRIPTION

UTILITIES:

Public water, public sewer, electric and natural gas service

ZONING:

R5 - Residential, permitted non-conforming use for medial offices. Prospective purchasers are encouraged to perform their own due diligence with regard to the permitted uses of the site.

For more zoning information, see the Anne Arundel County Zoning Code:
http://www.aacounty.org/CountyCode/Resources/Article27CleanCopy.pdf

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TAX INFORMATION:


Anne Arundel County Tax Map 4, Grid 6, Parcel 43
2006 Real Estate Taxes $6,599.46

TITLE:

In fee simple. Deed Liber 11568, folio 749. The property will be sold free and clear of all liens.

ADDITIONAL
INFORMATION:

Please print and return the Waver & Confidentiality Agreement for copies of the Current Rent Roll, Income and Expense Data and Leases.

WAIVER & CONFIDENTIALITY AGREEMENT

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REQUIRED
DEPOSIT:


$50,000


TERMS OF SALE

       Deposits as stated above, 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 within 45 days. If payment of the 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 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, and subject to the rights of the existing tenants. Dimensions, square footage and acreage contained herein are more or less. Purchaser assumes the risk of loss from the date of sale forward. The purchaser waives and releases the Sellers and 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 and transfer taxes to be paid by the purchaser. Time is of the essence.

       NO BUYER'S PREMIUM.

       MANNER OF SALE: The properties will be offered individually and as an entirety.

       Broker participation is invited. Click here for the Broker Registration Form.