Absolute Auction Above $399,000 "McCabe Mansion" Office Building 17,000 S.F. - 80% Leased $163,680 Gross Annual Rent Roll at Current Occupancy Rate

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Listing Details

Sold Price
$450,000
Auction Date
Auction Time
2:00 PM
Address
5209 York Road, Baltimore, MD, 21212
County
Baltimore City
Neighborhood
Northern Baltimore
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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 ABSOLUTE AUCTION ABOVE $399,000

"McCabe Mansion"
OFFICE BUILDING
17,000 S.F. ◆ 80% Leased

 

$163,680 Gross Annual Rent Roll
at Current Occupancy Rate

Sale On Premises
5209 YORK ROAD
Corner McCabe Avenue
Baltimore, MD 21212

WEDNESDAY, DECEMBER 18, 2013
AT 2:00 P.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.  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:

5209 York Road is situated at the southeast corner of York Road and McCabe Avenue in northern Baltimore City.  The property is located south of Towson University and east of Loyola and Notre Dame Colleges.  York Road at the property is the community commercial district, comprised of retail stores, office buildings, apartment buildings and health care facilities.  Public bus service is at the property.  Situated one block south of Homeland Avenue, the property is located amid the varied demographic neighborhoods of Homeland, Winston-Govans and Woodbourne-McCabe.

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


SITE:

The property comprises 0.474 acres, fronting approximately 99.5' along the east side of York Road and approximately 190' along the south side of McCabe Avenue.
Photos of auction property


The site has paved parking lots in the front and rear for approximately 25 cars.
Photos of auction property


Public utilities - water, sewer, gas, electricity, telephone are in the property.


Zoning B-2-2, Commercial, permitting a wide variety of potential office and retail uses.
For more information, see the: Baltimore City Zoning Ordinance (pdf)


The front of the site has an ornamental fence.  The lot slopes down from front to rear, allowing for drive-in and walk-out access to the lower level in the rear.


BLOCK PLAT (pdf)


IMPROVEMENTS:

The property is improved by a three-story stone building with brick addition.  The original building, known as "McCabe Mansion" is believed to have been constructed in the 1870s.  According to Baltimore City tax records, the building contains 17,223 square feet of gross building area and 6,618 square feet of basement space.


Exterior

The building features a grand entrance with four two-story columns, composition shingle and built-up roofs, steel fire escape, wood and vinyl-clad double hung windows, basement foundations and two rear garage areas. 

 


 


Interior

The building has multiple entrances and features a main entry foyer with inlaid hardwood floors, central mailboxes and staircase.  The property is currently occupied by 41 tenants and has at least 1,500 square feet of additional vacant rentable space.  Interior finishes are typically plaster and drywall, carpeted floors and florescent lighting.


Mechanical
Central oil steam heat
9 - heat pump/central air conditioning units
2 - gas water heaters


OCCUPANCY:

The property is occupied by multiple tenants and is professionally managed by Jay Goldsberry.  Tenancies are by subleases with McCabe Associates, LLC, who leases the entire premises from the property owners.  Stock in the entity "McCabe Associates, LLC" will be conveyed with the property to the purchaser.


Copies of the leases and an income and expense statement are available.  The information therein was provided by the property manager.  To receive a copy of the rent roll, leases and income and expense data, please complete and return the: Waiver and Confidentiality Agreement (pdf).


TAXES:

Published annual real estate taxes for 2013-2014 are $12,048.


TITLE:

The property is in fee and sold free and clear of liens.  Baltimore City Deed Liber 6940, Page 165.


INSPECTION:

The building will be open for inspection one hour before the auction and may be inspected by appointment prior to the day of sale.  Email info@ajbillig.com or call 410-296-8440 to schedule an appointment.


TERMS OF SALE:

A $40,000 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 at settlement, which shall take place within 45 days.  If payment of the deposit or 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 existing tenants.  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.


FINANCING:

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