"Cambridge" - MD Eastern Shore High Visibility Commercial Property Automobile Dealership - 22,200± Sq. Ft. On 5.31± Acres And 4.0± Acre Commercial Parcel

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Listing Details

Sold Price
$1,255,000
Auction Date
Auction Time
11:00 AM
Address
3132 Aireys Road Spur, Dorchester County, MD, 21613
County
Dorchester County
Neighborhood
Cambridge
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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Stephen M. Goldberg, Solicitor
Tydings & Rosenberg, LLP
100 E. Pratt Street - 26th Floor
Baltimore, Maryland 21202

SUBSTITUTE TRUSTEES' AUCTION
"Cambridge" - MD Eastern Shore

 

HIGH VISIBILITY
COMMERCIAL PROPERTY

Former Schaefer & Strohminger
AUTOMOBILE DEALERSHIP
22,200± Sq. Ft.  On 5.31± Acres  Zoned B2

Fronting Approximately 844' Along the
Eastbound Lane of US Route 50

 

- Also -
4.0± ACRE COMMERCIAL PARCEL
Fronting on Aireys Road Spur and Cordtown Road

Sales To Be Held
3132 AIREYS ROAD SPUR
At Ocean Gateway (US Route 50)
Dorchester County, MD 21613

FRIDAY, OCTOBER 22, 2010
AT 11:00 A.M.


      Under and by virtue of the power of sale contained in a certain Indemnity Deed of Trust from S&S Auto Properties LLC, dated February 26, 2002 and recorded among the Land Records of Dorchester County, Maryland, in Book 0476, Page 630, as modified and amended from time to time and which are more particularly described and set forth in the Order to Docket Foreclosure of Commercial Non-Residential Property in the foreclosure action pending in the Circuit Court for Dorchester County, entitled Steven Carcone and Stephen M. Goldberg, Substitute Trustees, Plaintiffs v. S&S Auto Properties LLC, Case No. C10-18055, the holder of the indebtedness secured thereby having appointed the undersigned Substitute Trustees to sell at Public Auction, on the premises, the following:


      All those fee simple lots of ground and the improvements thereon, situate and lying in Dorchester County, State of Maryland and being more fully described in the above-referenced Indemnity Deed of Trust and/or amendments thereto.


      The metes and bounds description and/or plat is available on the Auctioneer's web site or by calling the Auctioneer's office.  For complete site information, prospective purchasers should refer to the metes and bounds description or plat.  Prospective purchasers are encouraged to perform their own due diligence with regard to the zoning and permitted uses of the property.  Site and improvement descriptions stated below are for informational purposes only and are made without express or implied warranty.  Dimensions, square footage and acreage mentioned within this advertisement are approximate and more or less.  The auction comprises the following properties:

 


Former Automobile Dealership
3132 AIREYS ROAD SPUR

Photos of auction property
AERIAL PHOTO    TAX MAP    BUILDING    VIEW FROM ROUTE 50
REAR OF BUILDING    PAVED LOT    STREET SCENE #1
STREET SCENE #2    STREET SCENE #3

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


      The property comprises approximately 5.31 acres of land, with substantial frontage along the eastbound lane of Ocean Gateway (US Route 50) and along Aireys Spur Road, a U-shaped access road leading from U.S. Route 50.  Zoning B-2, General Business.  The property is also identified as Dorchester County Tax Map 42, Grid 4, Parcel 210.


      According to public tax records, improvements are believed to comprise a one-story metal freestanding commercial building, constructed circa 1987 and containing approximately 22,200 square feet of gross building area.  The building has 11 overhead drive-in doors and glass front showroom.   The majority of the property is asphalt paved for parking, with two chain link fenced storage areas, a high visibility pole sign on US Route 50 and overhead lighting.


       METES AND BOUNDS DESCRIPTION (pdf) - for both properties


      Required Deposit - $50,000

 


Unimproved Parcel of Land Fronting on
AIREYS ROAD SPUR & CORDTOWN ROAD

Photos of auction property
AERIAL PHOTO    TAX MAP    SITE PHOTO #1    SITE PHOTO #2    SITE PHOTO #3

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


      The property is known as Parcel 1 on the plat recorded among the Land Records of Dorchester County in Plat Cabinet 42, Folio 16, consisting of an unimproved, pentagonal-shaped parcel of land comprising approximately 4.006 acres, fronting approximately 460' along the south side of Aireys Road Spur and approximately 397' along the west side of Cordtown Road.  Public tax records indicate the property is zoned B-2, General Business.  A portion of the property is chain link fenced and partially paved, the balance is clear and used as farmland.  The property is also identified as Dorchester County Tax Map 42, Grid 4, Parcel 413 and is located adjacent to "Cindy's Kitchen" restaurant (3127 Aireys Road Spur).


       METES AND BOUNDS DESCRIPTION (pdf) - for both properties


       SUBDIVISION PLAT (pdf) for 4.0± acre parcel


      Required Deposit - $5,000.

 


MANNER & TERMS OF SALE


      MANNER OF SALE:  Each property will be offered individually and the bid reserved.  Then both properties will be offered as an entirety and sold in the manner producing the greater amount.


     TERMS OF SALE:  Deposits as stated above or $55,000 if sold as an entirety, 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 by 11:00 A.M. on Monday, October 25, 2010, at the Auctioneer's Office.  The holder of the indebtedness, the beneficiary of the Deed of Trust, or their affiliate, if a bidder at the sale, shall not be required to post a deposit.  Balance to be paid in cash at settlement, which shall take place within ten (10) business days following final ratification of the sale by the Circuit Court for Dorchester County at the offices of Tydings & Rosenberg, LLP.  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 stated in the foreclosed Indemnity Deed of Trust Note, from date of sale to date of settlement.  If settlement is delayed for any reason, there will be no abatement of interest.  All adjustments as of date of sale.  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 nature and description of the improvements as contained herein; subject to any environmental condition or matter, if any, whether latent or otherwise, and subject to any easements, agreements, restrictions or covenants of record affecting same, if any, and any governmental requirements affecting same.  Purchaser shall be responsible for obtaining physical possession of the property and assumes the risk of loss or damage to the property from the date of sale forward.  The purchaser waives and releases the Substitute Trustees, the holder of the indebtedness, 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 Substitute Trustees are 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 Substitute Trustees, the holder of the indebtedness or Auctioneers.  Recordation costs, transfer taxes (including Agricultural Transfer Tax, if any) and all other costs incident to settlement, including a $500 document review fee by the Seller's attorney, to be paid by the purchaser. Time shall be of the essence for the purchaser.


No Buyers Premium


Steven Carcone and Stephen M. Goldberg,
Substitute Trustees