ABSOLUTE AUCTION ABOVE $100,000 Commercial Retail Center with Retail Spaces & Apartments "Charles Village District" Enterprise Zone

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Listing Details

Sold Price
$170,000
Auction Date
Auction Time
11:00 AM
Address
3048 Greenmount Avenue & 421-429 E. 31st Street, Baltimore, MD, 21218
County
Baltimore City
Neighborhood
Waverly, Charles Village Enterprise Zone
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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ABSOLUTE AUCTION
To The Highest Bidder Above $100,000
(At The Risk and Expense of the Defaulting Purchaser)

 

COMMERCIAL RETAIL CENTER
Retail Spaces  2 Apartments  5,625+ Sq. Ft.

ZONED B-2-3  ENTERPRISE ZONE
- Charles Village District -

 

Sale On Premises
3048 GREENMOUNT AVENUE
& 421-429 E. 31ST STREET

Baltimore, MD 21218

THURSDAY, JANUARY 28, 2010
AT 11:00 A.M.


        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.  ALL DIMENSIONS AND ACREAGE CONTAINED HEREIN ARE MORE OR LESS.

LOCATION & DIRECTIONS:

Prime retail location, just 4 blocks east of Johns Hopkins University Homewood Campus.  The property is situated at the southwest corner of Greenmount Avenue and E. 31st Street.  Greenmount Avenue is the major commercial center for the area servicing the Abell, Charles Village, Better Waverly and Okenshawe neighborhoods.  MTA bus service is in front of the property.  The auction presents an excellent opportunity to purchase an income producing property with major potential.

Baltimore Messenger article about the revitalization of the Greenmount corridor and Waverly Main Street: "Serving of optimism for Waverly" - Baltimore Messenger 06/03/09

Photos of auction property
GREENMOUNT AVENUE - PHOTO #1    GREENMOUNT AVENUE - PHOTO #2
VIEW ALONG 31st STREET

For directions from your location, visit: maps.google.com

 

SITE AREA

Irregularly shaped parcel fronting 20'3" on Greenmount Avenue with a depth of 152'6" along E. 31st Street.

Serviced by public water, public sewer and natural gas

BLOCK PLAT (pdf)

 

IMPROVEMENTS

Attractive brick commercial strip consisting of a series of interconnecting one and two story buildings. There are 6 modern gas furnaces servicing 4 retail areas and the two apartments with separate gas and electric meters. Note: The buildings are in need of renovation.

  • 3048 Greenmount Avenue
    Former carry-out restaurant
    Photos of auction property
     
  • 429 E. 31st Street
    Former bakery
    Photos of auction property
     
  • 421-427 E. 31st Street
    Known as Normal's Used Books and Record Shop. Leased for $1,025 per month, plus gas and electric (lease ending March 14, 2010). The store occupies several interconnecting buildings. Normal's has been voted by Baltimore Magazine as Baltimore's Best Used Book Store and Record Shop on numerous occasions. For Normal's web site, visit: http://www.normals.com/
    Photos of auction property
    421 E. 31st STREET    427 E. 31st STREET
    BOOKSTORE INTERIOR - PHOTO #1    PHOTO #2    PHOTO #3    PHOTO #4
     
  • Apartments (In need of complete renovation). Situated above 3048 Greenmount Avenue and 429 E. 31st Street. Separate entrance from 31st Street to both units. Each unit contains a living room (with closet), master bedroom with private bath and kitchen
    Photos of auction property
     
  • Basement - unimproved with 2 utility areas

 

ZONING

B-2-3, community business (could be used as retail, offices and/or residential).  Check with the Baltimore City Office of Planning and Zoning for complete potential and permitted uses for the property (410-396-4126) or visit:
http://cityservices.baltimorecity.gov/charterandcodes/Code/Art%2000%20-%20Zoning.pdf 


 The property is located in the "Enterprise Zone" with potential substantial tax credits available.  For more information, visit:
  http://www.choosemaryland.org/businessservices/taxincentives/enterprisezone.html

 

REAL ESTATE TAXES

$3,687 (The entire property is assessed as 3048 Greenmount Avenue)

 

TITLE

In fee simple; sold free and clear of all liens

 

INSPECTION TIME

10:00 a.m. on the day of the auction

 

TERMS OF SALE

Deposit payable by certified or cashier's check of $10,000 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 property will be sold in "AS IS" condition, without express or implied warranty as to the existing zoning and to the nature and description of the improvements as contained herein; and subject to easements, agreements, restrictions or covenants of record affecting same, if any. 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. Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the purchaser. TIME IS OF THE ESSENCE.


NO BUYERS PREMIUM!


Broker participation is invited.
BROKER REGISTRATION FORM (pdf)