REAL ESTATE AUCTION
- Dundalk, MD -

Well Located, Mixed-Use
COMMERCIAL BUILDING
6 Self-Contained Units - 2 Stores and 4 Apartments
100% Occupied MDE Certified Lead Free
$45,600 Scheduled Gross Annual Income

Photos of auction property
FRONT VIEW      REAR VIEW      STREET SCENE #1      STREET SCENE #2

Sale On Premises
7819 WISE AVENUE
East of 1600 Merritt Boulevard
Baltimore County, MD 21222

TUESDAY, JUNE 19, 2007
AT 2:00 P.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, square footage and acreage contained herein are more or less.

LOCATION:

7819 Wise Avenue is a well maintained commercial building, situated on a commercial strip in the Dundalk area of eastern Baltimore County. The property is about 1.5 miles south of Baltimore Beltway (I-695) Exit 39 and two blocks east of Merritt Boulevard (MD-157). Merritt Boulevard and Wise Avenue are the central business district for the surrounding Dundalk community. The property is in close proximity to local and regional employers and approximately 15 minutes drive to Downtown Baltimore.

LOCATION MAP

For more information about Dundalk, MD visit: Wikipedia.

SITE:

Rectangular lot - 50' x 219', more or less
Located between Dunkin' Donuts and Taco Bell
Level site, mostly paved
7-10 car parking in rear, ample additional parking on adjacent lots

SUBDIVISION PLAT

BUILDING:

Two story brick, stucco and vinyl siding building, constructed in sections. According to public tax records, the original section was constructed in 1940 and total gross building area is 4,920 square feet. The building has composition shingle and built-up roofs. Numerous updates have been made, including double glazed replacement windows and remodeled tenant spaces. The structure is currently configured as follows:

First Floor
Front Entrance - Bob Magee's Haircutting (a Dundalk fixture) - approximately 1,200 square feet of rentable area, including hair cutting area, rest room, wig area and storage. Finishes are the least updated in the building (because that's the way the tenant likes it!); gas heat and window air conditioning units. Current rental $750/month - no lease.
Front Entrance - Schaeffer & Schaeffer Law Office - approximately 600 square feet of rentable area - reception, 2 offices, rest room; drywall, carpeting and florescent lighting; electric heat pump and central air conditioning. Current rental $675/month - no lease.
Rear Entrance - Apartment D - living room/dining room combination, galley kitchen, 2 bedrooms, full bath with washer and dryer; gas heat and central air conditioning. Current rental $775/month - no lease.
Second Floor
Shared Side Entrance - Apartments A & B - each has living room, kitchen, bedroom, bath; electric baseboard heat and central air conditioning. Current rentals - $525 and $550/month - no leases.
Side Entrance - Apartment C - living room, kitchen, bedroom and bath; electric heat pump and central air conditioning. Current rental $525/month - no lease.
Miscellaneous
Storage Shed
Utility Room
Separate water heaters for each unit
Updated electrical service
7 electric meters
2 gas meters

ZONING:

BL, business local

TAXES:

2006 - $2,529

TITLE:

In fee simple. The property will be sold free and clear of liens. Deed Liber 21033, folio 71. The property is owned by Seabreeze Investments, LLC and is the only asset owned by the limited liability company. The owners are willing to transfer their interest in the LLC to the purchaser, which may reduce settlement costs.

ADDITIONAL
INFORMATION:


  • Many of the tenants have expressed an interest in entering into lease agreements.
  • Apartments are certified by the Maryland Department of the Environment (MDE) as Lead Free - Certificate No. 373462.
  • Please sign and return the Confidentiality Waiver to receive current income and 2006 expense information.

TERMS OF SALE:

A $25,000 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. 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 settlement and assumed thereafter by the purchaser. The property will be sold in "AS IS" condition, subject to the rights of the existing tenants, 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. The purchaser waives and releases the Seller, their Attorneys, 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