Real Estate Auction

DOWNTOWN BALTIMORE
"Market Center"

BRICK COMMERCIAL BUILDING
Storefront Café & 3 Apartments

And Carry-out Restaurant Equipment

Photos of auction property
FRONT VIEW      CORNER VIEW      ADJACENT BLOCK

Sale On Premises
Clay Street Café
102-104 CLAY STREET

Off 100 block of N. Liberty Street
Baltimore, MD 21201

THURSDAY, JUNE 29, 2006
AT 2:00 P.M.


LOCATION:

102-104 Clay Street is situated one block east of Baltimore's "Super Block", in the Market Center National Historic District. Its location on the National Register of Historic Places provides an opportunity for historic tax credits. A major renovation of Charles Center Plaza is taking place one-half block to the east, while Market Center is undergoing complete rehabilitation.

The auction presents an opportunity for investors, speculators and owner-operators to purchase a uniquely designed Downtown building, in an up-and-coming area, with tremendous upside potential.

LOCATION MAP & DIRECTIONS

SITE:

Triangular lot, fronting 59' on Clay Street with a depth of 23'10", more or less

BLOCK PLAT

BUILDING:

Turn-of-the-century, four-story in-line building comprises approximately 700 square feet per floor or 2,800 square feet of gross building area, plus basement. Exterior has flat built-up roof, steel fire escape, wooden double hung windows, metal awning, entrance for first floor café and separate entrance for apartments.

First Floor - Clay Street Café
The former café has drywall, ceramic tile floors, laminate service counters, large window and two wall-mounted air conditioning units. The space contains a customer service/dining area, commercial kitchen and modern rest room.

Equipment Included in Sale:

Vulcan convection oven, 20 qt. floor mixer, 6' sandwich unit, refrigerator, freezer, grill, deep fryer, cash register, tables and chairs.
Photo of

Upper Levels
The second, third and fourth floors each have an apartment consisting of 3 rooms and bath. The units on the second and third are rented for $390/month each - month-to-month tenants. The fourth floor was recently vacated.

Mechanical
Gas hot water heat with radiators
2 - gas fired water heaters
150-ampere electrical service
Separate gas and electric meters for each unit

ZONING:

B-4-2, Central Business District

For more information, see the:
Baltimore City Zoning Ordinance (pdf)

(Requires Acrobat Reader to view)
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UTILITIES:

Public water, sanitary sewer, gas, electricity and telephone service are in the site.

TITLE:

In fee simple. The property is sold free and clear of liens. Deed reference - Liber 0393, Page 194.

TERMS OF SALE:

A $10,000 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 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. 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 and transfer taxes to be paid by the purchaser. Time is of the essence. A 5% buyers premium shall be added to the final bid price.

Broker Participation is invited.
BROKER REGISTRATION FORM