PUBLIC AUCTION

BOWLEYS QUARTERS
 TURNKEY 
RESTAURANT & BAR

Known As
"Bowley's Inn" and "Overboard Lounge"

Real Estate, Equipment
& 7-Day Liquor License


1.769 ± Acres With Water View75 ± Paved Vehicle Parking


Photos of auction property
FRONT VIEW      AERIAL VIEW

Sale On Premises
818 BOWLEYS QUARTERS ROAD
Corner Of Susquehanna Avenue
Baltimore County, MD 21220

MONDAY, FEBRUARY 12, 2007
AT 12:00 NOON


AUCTION:

The "Bowley's Inn" and rear bar known as the "Overboard Lounge" are located in a prime location at the gateway to Baltimore County's premier waterfront community. The restaurant and bar are currently in operation. The sale includes a newly renovated main building (restaurant/bar) and separate rear bar building all situated on 1.769 acres, complete with furnishings, fixtures and equipment, and a 7-day beer, wine and liquor license. The auction presents a turnkey opportunity to purchase an established restaurant with a loyal following, in one of Baltimore County's hottest waterfront communities.

LOCATION:

The "Bowley's Inn" and the "Overboard Lounge" are located in the rapidly redeveloping area of Bowleys Quarters. Bowleys Quarters is a well known peninsula located in easternmost Baltimore County, surrounded by Middle River, Seneca Creek and Chesapeake Bay. Bowleys Quarters consists of scenic woodland, beautiful waterfront homes and breathtaking waterfront vistas. The area has undergone a building boom of both new construction and rebuilding since hurricane Isabelle. There are few commercial properties in the area other than boatyards and marinas. This is a unique opportunity to purchase a turnkey restaurant and bar on a great parcel of land.

LOCATION MAP

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

SITE:

818 Bowleys Quarters Road - 2 contiguous pie shaped parcels comprising a total of 1.769 acres (according to tax and Deed records), as follows:

Lot 274, Parcel 203, Grid 22, Tax Map 98 (actually on Tax Map 91) - 1.16 acres fronting 469.44' along Susquehanna Avenue and 160' along Bowleys Quarters Road, all more or less

Parcel 146, Grid 22, Tax Map 91 - 0.609 acre fronting 307' along Bowleys Quarters Road

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Macadam paved parking area for 75 +/- vehicles
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Public water and public sewer are in the site. All new sewer lines were installed from the building to the public hookup.

MAIN BUILDING:

Attractive two story building features -

First Floor
Newly renovated restaurant area with pergo flooring, recessed lighting, natural wood accent trim (seats approximately 75 patrons)
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Attractive bar area with fully equipped bar and back bar, ceramic tile flooring, tvs and sound system, bar and table seating
Photos of auction property
RESTAURANT BAR      BAR SERVICE AREA
Commercial Kitchen fully equipped with grill area, work areas, dishwashing area, 3 - walk-in boxes (refrigerator, freezer and beverage) and storage room
Photos of auction property
STEAM TABLE      GRILL/FRY AREA      DISHWASHER AREA
2 - Rest Rooms (for bar and restaurant area)
Oil hot water baseboard heating system, 2 zoned new central air conditioning system
Second Floor - Owner's Apartment
Living room/dining room L-shaped combination, kitchen, laundry room, bedroom and two full bathrooms; separate heatpump and central air conditioning system
Basement
Unfinished storage areas under a large portion of the building
Rooftop Deck (over the kitchen)

Photos of auction property
ROOFTOP DECK      VIEW OF WATER

REAR
BUILDING:

Separate outside entry to a very attractive second floor bar (in the rear of the restaurant) known as the Overboard Lounge. The space features ceramic tile flooring, exposed wood beam ceiling, large horseshoe fully equipped bar, game and seating areas, brick wood burning fireplace, pellet stove. Separate heatpump and central air conditioning system for the bar.

Photos of auction property
ENTRANCE     FRONT DOOR     BAR AREA     BAR CLOSE-UP
BAR SERVICE AREA     GAME AREA     FIREPLACE

DETACHED GARAGE
BUILDING:

Used for crab steaming and storage

EQUIPMENT LIST:

There is a newly installed surveillance camera system with 3 cameras and 2 monitors - digital w/internet monitoring capability for the entire premises. Two separate security systems, each for fire and theft break-ins. Push button panic alarms to the Baltimore County police station at each bar.

The following is a basic equipment list:
KITCHEN
Jackson Auto dishwasher (large) with an InSInkErator disposal
Oasis-Ecolab cleaning system
Imperial stainless deep fryers
Star Max grill
Blodgett oven
Imperial 6 burner stove & oven
Garland 6 burner stove & oven
Perlick automatic CO2 maker
2 - Range Guard fire suppression systems
Stainless center island with double refrigerator, 5 unit salad bar & storage
Stainless prep table
Univex large mixer
2 - microwave ovens
Hobart mixer
Globe meat slicer
2 - stainless prep tables
Traulsen stainless 2 door refrigerator with racks
Patton air circulator - floor model
Walk-in refrigerator with walk-in freezer with racks
Stainless ice maker - large
Turbo-Air refrigerator on wheels with salad bar top
Triple stainless sink
Stainless storage racks
Floor janitor tub
Hand washing sink
Assorted pots, pans, bowls, utensils, etc
"BOWLEY'S INN" DINING ROOM & BAR AREA
Casio cash register & cash storage box
Victor adding machine
Traulsen double glass door refrigerator with counter top
Beverage-Air 4 door beer cooler
Ice storage unit
Stainless long sink
2 - TV wall mounts
Bunn-Pour-Omatic double coffeemaker
TV
Large floor safe
Tables, chairs and bar stools
6 - First Alert heavy duty fire extinguishers - new in box
"OVERBOARD LOUNGE"
Stainless refrigerator - rolling
Perlick refrigerator beer tapper - 2 dispenser with refrigerated storage
Casio cash register
Beer floor refrigerator
Fooz-Ball Game
Shoot out basketball game
3 TV's
Tables, chairs and bar stools
Items on Premises - Not incuded in the sale
All electronic video games, pool tables and internet juke boxes

LIQUOR LICENSE:

7-Day "Class B" Beer, Wine and Liquor License permits sales for consumption on the premises. The transfer of this liquor license is subject to the approval of the Board of Liquor License Commissioners of Baltimore County as in the case of an original application, and it shall be the sole responsibility of the Purchaser to obtain said approval.

INVENTORY:

Remaining liquor inventory is not included in the sale and is available to the buyer on a dollar-for-dollar basis.

ZONING:

BL - for the improvements and a portion of the rear parking area

DR 3.5 - a portion of the rear parking area and rear of the property

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Visit the Baltimore County Web Site for additional zoning info.

ANNUAL REAL
ESTATE TAXES:


Lot 274, Parcel 203, Grid 22, Tax Map 98 (actually on Tax Map 91) - $6,719

Parcel 146, Grid 22, Tax Map 91 - $1,164

TITLE:

Both parcels are In fee simple. The assets will be sold free and clear of liens.

INSPECTION:

10:30 a.m. on the day of the auction or by appointment.

TERMS OF SALE:

A $50,000 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, 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 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, transfer taxes and all costs incidental to settlement to be paid by the purchaser. Time is of the essence. The transfer of the liquor license is subject to the approval of the Baltimore County Liquor Board, as in the case of an original application and it shall be the sole responsibility of the purchaser to obtain said approval. Personal property is subject to 5% Maryland Retail Sales Tax.

NO BUYER'S PREMIUM!

Broker participation is invited.
BROKER REGISTRATION FORM

       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.