Absolute Attorney's Auction To The Highest Bidder "S.W. Baltimore - I-95 Corridor" 2.857 Acre± Industrial Parcel Currently leased for $38,700/year NNN

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Listing Details

Sold Price
$170,000
Auction Date
Auction Time
12:00 PM
Address
3001 Wilkens Avenue, Baltimore, MD, 21223
County
Baltimore City
Neighborhood
Wilhelm Park, S.W. Baltimore, I-95 Corridor
Scroll down for Complete Details, including: property description and Terms of Sale.

David H. Cohen, Attorney
Cohen & Forman, LLC
334 St. Paul Place
Baltimore, MD 21202

★ ABSOLUTE ★
ATTORNEY'S AUCTION
To the Highest Bidder - Regardless of Price!
                                
S.W. BALTIMORE
  I-95 CORRIDOR  
"Wilhelm Park"

2.857 ACRE±
INDUSTRIAL PARCEL
Currently Rented for $38,700/Year

Sale On Premises
3001 WILKENS AVENUE
Corner Wilmington Avenue
Baltimore, MD 21223

THURSDAY, MAY 31, 2012
AT 12 NOON


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.  Dimensions, square footage and acreage contained herein are more or less.  Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the property.

LOCATION & DIRECTIONS:

3001 Wilkens Avenue is located in southwest Baltimore, off I-95 Exit 50 - Caton Avenue.  Situated near the rapidly expanding St. Agnes Hospital, the site fronts on Wilkens Avenue, Wilmington Avenue and Whistler Avenue.  The property is within five minutes drive of Downtown Baltimore and is about 40 minutes north of Washington, DC. 

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

 

SITE AREA

2.857 acres


Fronting 353' along the south side of Wilkens Avenue, 127' along the east side of Wilmington Avenue and 80' along the west side of Whistler Avenue.


Public utilities are believed to be available.


Zoning M-2-1, Industrial
For more information, please visit: Baltimore City Zoning Code (pdf)


BLOCK PLAT (pdf)

 

IMPROVEMENTS

One story concrete block office building with T-111 wood siding, contains two offices with built in oak cabinetry, two ceramic tile rest rooms, kitchen with custom cabinets and gas range;  gas forced air heat and central air conditioning;  2 bay garage with electric automotive lift.


Chain link fenced rear yard


4 - Billboards


OCCUPANCY:

The premises are currently leased to Paladin Impound & Recovery, LLC at a triple net monthly rental of $2,900 with 5% annual rental increases. The lease term is for five years from June 1, 2011. The tenant has an option to purchase the property for $395,000, which expires on May 31, 2012.  Tenant is responsible to taxes, insurance, maintenance and utilities.


Clear Channel is currently paying $3,900 per year rent for the four billboards on the property.

 

REAL ESTATE TAXES

Annual real estate taxes for 2001 were $4,517.

 

TITLE

The property is in fee simple and will be sold free and clear of liens.  Deed Liber 6525, folio 23.

 

TERMS OF SALE

A $20,000 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 a monthly or 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, and subject to easements, agreements, restrictions or covenants of record affecting same, if any, and subject to the rights of the tenants in possession of all or part of the property.  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.


BIDDER PRE-REGISTRATION

Online pre-registration is now closed. Please register with the Auctioneer at the auction site.


BROKER COOPERATION:

Broker participation is invited. See our: BROKER REGISTRATION FORM (pdf). 

The completed form must be returned to the Auctioneer's office by 5:00 P.M. on Wednesday, May 30, 2012.

 

FINANCING

See our Financing Page for a list of auction-oriented lenders.