REAL ESTATE AUCTION
- Randallstown, MD -


PRIME OFFICE
DEVELOPMENT SITE

Opposite Northwest Hospital

2 - HOUSES 0.55± AC.
Zoned O-3 (Office Park)


Photos of auction property
AERIAL PHOTO      CONCEPT DRAWING      VIEW OF PROPERTY
STREET TO NORTH      VIEW OF NORTHWEST HOSPITAL      STREET TO SOUTH

Sale On Premises
5330 & 5332
OLD COURT ROAD

BALTIMORE COUNTY, MD 21133

THURSDAY, AUGUST 3, 2006
AT 11:00 A.M.


       NOTE: The information contained herein has been obtained from sources deemed reliable and believed to be accurate. However, no express or implied warranty is made as to the accuracy of these representations. Prospective purchasers are encouraged to consult with the appropriate government authorities regarding the permitted uses of the property and perform their own due diligence in advance of the auction. All dimensions and acreage contained herein are more or less.

GENERAL INFORMATION

LOCATION:

Great location, just one block south of 8600 Liberty Rd., surrounded by commercial properties and directly opposite Northwest Hospital. Public transportation is within walking distance. The properties are located in a Commercial Revitalization Zone affording substantial tax credits, below market financing, etc. (see the information below). Baltimore County has significant support for the development of this site and has granted variances on building setbacks for the construction of a new three story office building. The Liberty Road Business Association has given their approval for development for an office building. The area has been undergoing a substantial real estate boom in investment with major retailers coming into the area within blocks of the subject site including WalMart and Home Depot. Northwest Hospital is also continuing to expand.

For more information about the Liberty Road Corridor, see this INFORMATION SHEET (pdf).

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LOCATION MAP

For directions from your location, visit:
http://www.mapquest.com/directions/main.adp

COMMERCIAL
REVITALIZATION
ZONE:

  • Provides for long term support for continued development of the area
  • Exemption available for 5 year tax credit on all improvements
  • Baltimore County will finance 50% at market (-1.5%)
  • Partnerships with 6 area banks at market (-0.25%)
  • Free architectural assistance
  • State benefits for employers with 25 or more employees
  • Baltimore County benefits for Economic Revitalization Zone
For information on the Commercial Revitalization Zone, visit: Baltimore County's Web Site

Detailed Liberty Road Revitalization Plan (pdf)

Liberty Road Commercial Revitalization Map (pdf)
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GENERAL SITE
INFORMATION:

The total site is predominantly pie shaped with a total frontage of 182', more or less along Old Court Road.

Photo of

According to tax records:
5330 Old Court Road comprises 13,503 square feet
5332 Old Court Road comprises 10,305 square feet
or a total of 23,808 square feet or 0.546 acre, all more or less.

TAX MAP

The property survey indicates that both properties are slightly larger in size. Note: Both properties are being sold "AS IS", with no warranties as to the exact lot sizes.

PROPERTY SURVEY

ZONING:

Both properties are zoned O-3. Since both properties have been used as residential homes for a number of years, their current residential use is Grandfathered in, as well as home/office use.

For additional information, see:
Office Zoning Classifications (pdf)
Zoning Variance (pdf) for the construction of a new 60' x 60' three story office building on the site

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For additional zoning information, visit:
Baltimore County Zoning Regulations


5330 OLD COURT ROAD
Photos of auction property
FRONT VIEW      SIDE VIEW      REAR VIEW

IMPROVEMENT
DESCRIPTION:

Aluminum sided covered porchfront cape cod home contains: living room, dining room and kitchen, on the first floor; 3 bedrooms and bathroom, on the second floor; full basement with laundry area. The home has gas forced hot air heat and central air conditioning. Two car parking pad (former garage). The property was rented for $1,000 per month. The tenant recently vacated and the property is currently vacant.

ANNUAL REAL
ESTATE TAXES:


$1,484

TITLE:

In fee simple; sold free and clear of all liens

DEPOSIT:

$15,000


5332 OLD COURT ROAD
Photos of auction property
FRONT VIEW      GARAGE      REAR VIEW

IMPROVEMENT
DESCRIPTION:

Shingle sided covered porchfront cape cod home contains: living room, dining room and kitchen, on the first floor; 3 bedrooms and bathroom, on the second floor; full basement with laundry area. The home has gas hot water heat. Detached two car garage. The property is currently rented for $1,000 per month, on a month-to-month basis. The tenant currently has no lease.

ANNUAL REAL
ESTATE TAXES:


$1,499

TITLE:

In fee simple; sold free and clear of all liens

DEPOSIT:

$15,000


MANNER OF SALE

       Each property will be offered individually, then as an entirety and sold in the manner producing the greater amount.

TERMS OF SALE

       Deposit payable by certified or cashier's check of $15,000 on each property or $30,000 as an entirety will be required of the purchaser at time and place of sale. The deposit is to be increased to 10% of the purchase price within 24 hours at the office of the Auctioneers. Balance to be paid in cash within 45 days. If payment of the balance does not take place within the specified time, the deposit will be forfeited and the property may be resold at the risk and expense of the defaulting 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. Taxes and all other public charges and assessments, payable on an annual basis, including 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 properties will be sold in "AS IS" condition, without express or implied warranty as to the existing zoning or permitted uses, without express or implied warranty as to the nature and description of the improvements as contained herein; and subject to the rights of the existing tenants, if any, and subject to easements, agreements, restrictions or covenants of record affecting same, if any. All dimensions contained herein are "more or less." Purchaser assumes 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 Auctioneer. The purchaser agrees to waive the right of inspection for lead paint as provided under current Federal and State Law. Cost of all recordation and transfer taxes to be paid by the purchaser. TIME IS OF THE ESSENCE.

NO BUYER'S PREMIUM

Broker Participation is invited.
BROKER REGISTRATION FORM