REAL ESTATE AUCTION

2 - NORTHWEST BALTIMORE
INDUSTRIAL PROPERTIES


Located at Wabash Avenue
& W. Garrison Avenue 21215

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Sale On Premises
WEDNESDAY, AUGUST 15, 2007
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. Prospective Purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the properties. Dimensions, square footage and acreage contained herein are approximate and more or less.

4110 W. Garrison Avenue
1.38 Acres± & Garage Buildings
Fronting on 3 Streets - Multiple Tenants
Baltimore, Maryland 21215

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LOCATION:

4110 W. Garrison Avenue is situated about 3.5 miles northwest of Downtown Baltimore, in the "Woodmere" neighborhood, approximately 0.7 mile south of Pimlico Race Course. The property is approximately 5 miles southeast of the Baltimore Beltway (I-695) and 2 miles west of the Jones Falls Expressway (I-83). Metro subway service is within walking distance. The property has good site visibility from W. Garrison Avenue, Wabash Avenue, W. Belvedere Avenue and limited visibility from Reisterstown Road.

Location Map

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

SITE:

1.38 acres, fairly level irregularly shaped parcel
128'9" along W. Garrison Avenue
158'7" along W. Belvedere Avenue
28'9" along Reisterstown Road (MD-140)
467'7" along Western Maryland Railroad Right-of-Way (no spur)
Fully fenced yard
Public utilities

BLOCK PLAT

IMPROVEMENTS:

4127 W. Belvedere Avenue - one story concrete brick auto shop building, tenant occupied by Peas & Sliders Auto Body at $1,000/month; month-to-month tenant - no lease; tenant since the 1980's.
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4129 W. Belvedere Avenue - one story concrete block auto shop building, tenant occupied by Aneto Auto Service at $1,000/month
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Various sheds located along W. Garrison Avenue - one is rented for $350/month

Large open yard area - currently rented for storage of roll-off containers at a monthly rental of $2,500
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ZONING:

M-2, Industrial
B-3-2, Community Commercial District
For more information, see the Baltimore City Zoning Ordinance.

PHASE I:

A Phase I & II Environmental Report and leases are available for review. Please complete and return the Confidentiality Waiver.

TITLE:

In fee simple. Title is held by 4110 Garrison, LLC, by virtue of the Deed recorded among the Land Records of Baltimore City in Liber 6895, page 566. The property is the only asset of 4110 Garrison, LLC and the Seller will convey their stock interest to a Purchaser, at the Purchaser's option and at no additional cost to the Seller. The property is sold free and clear of all liens.

TAXES:

Published 2007 real estate taxes - $5,323.20

DEPOSIT
REQUIRED:


$20,000 deposit is required at auction - see complete terms below



5070 Wabash Avenue
Warehouse & Office Building
Approximately 10,000 S.F. - Shell Condition
Baltimore, Maryland 21215

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LOCATION:

Situated caddy corner to 4110 W. Garrison Avenue, one door south of W. Garrison Avenue, the property is located in the "Dolfield" neighborhood of northwest Baltimore. The property is approximately 5 miles southeast of the Baltimore Beltway (I-695) and 2 miles west of the Jones Falls Expressway (I-83). Metro subway service is within walking distance. The property has good site visibility from westbound and eastbound Wabash Avenue.

SITE:

0.256 acre, situated above Wabash Avenue
Irregular shaped parcel, partially fenced
89' along Wabash Avenue
155' depth (east side)
100' in rear along two alleys
Public utilities

BLOCK PLAT

IMPROVEMENTS:

Two story brick and concrete block building, formerly containing approximately 8,000 sf of warehouse space and 2,000 sf of office area, with drive-in loading and dock door. The building is reported to be a former food processing plant, is currently vacant, boarded and needs renovation.
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ZONING:

M-2-1, Industrial
For more information, see the Baltimore City Zoning Ordinance.

PHASE I:

A Phase I & II Environmental Report is available for review. Please complete and return the Confidentiality Waiver.

TITLE:

In fee simple. Title is held by 5070 Wabash, LLC, by virtue of the Deed recorded among the Land Records of Baltimore City in Liber 6797, page 877. The property is the only asset of 5070 Wabash, LLC and the Seller will convey their stock interest to a Purchaser, at the Purchaser's option and at no additional cost to the Seller. The property is sold free and clear of all liens.

TAXES:

Published 2007 real estate taxes - $3,928.80

DEPOSIT
REQUIRED:


$7,500 deposit is required at auction - see complete terms below


TERMS OF SALE

       Deposits, in the amounts 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, subject to the rights of the tenants in possession of all or part of the property, 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, 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.

Broker participation is invited.
BROKER REGISTRATION FORM