"Cambridge" Flex Industrial Building 60,000± Sq. Ft,. Zoned I-1, On 19.682± Acres 3.875% Financing Is Available

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Listing Details

Sold Price
$915,000
Auction Date
Auction Time
11:00 AM
Address
5455 Moose Lodge Road, 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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REAL ESTATE AUCTION
- Maryland's Eastern Shore -

Well Maintained
FLEX INDUSTRIAL BUILDING
60,000± Sq. Ft.  Zoned I-1  On 19.682± Acres

 

Suitable for Headquarters Campus,
Manufacturing, Warehouse or Religious Facility

 

 BELOW MARKET FINANCING
$150,000 Down ● 3.875% Interest

Sale On Premises
5455 MOOSE LODGE ROAD
Off US Route 50, "Cambridge"
Dorchester County, MD 21613

FRIDAY, NOVEMBER 5, 2010
AT 11:00 A.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 & DIRECTIONS:

5455 Moose Lodge Road is located just east of Historic Cambridge, south of the Choptank River and north of Cambridge-Dorchester Airport.  The site is easily accessible to US Route 50 (Ocean Gateway), the main highway from the Baltimore-Washington metropolitan area to Maryland and Delaware Beach Resorts.  Baltimore and Washington are about 1.5 hours north of Cambridge, Ocean City is about 1 hour south.  The Town of Cambridge and surrounding Dorchester County have attractive tax incentives for new and expanding businesses.  


For more information on Cambridge:
http://www.ci.cambridge.md.us

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

 

SITE AREA

19.682 acres,  fronting 944.8' along the southeast side of Moose Lodge Road by a depth of approximately 1,000'.  The site is level and mostly clear.


Level lot with circular driveway and gravel paved parking areas


Utilities - private well, public sewer, heavy electrical power, propane storage


300,000 gallon rubber-lined storage pond for wet sprinkler system


FEMA Flood Map Panel No. 2400260200A - Zone C, beyond the 100-year flood plain


SUBDIVISION PLAT (pdf)


Tax Map:

 

IMPROVEMENTS

Photos of auction property
Exterior Photos:    PHOTO #1    PHOTO #2    PHOTO #3    PHOTO #4    PHOTO #5    PHOTO #6
Interior Photos:      PHOTO #1    PHOTO #2    PHOTO #3    PHOTO #4    PHOTO #5
                                PHOTO #6    PHOTO #7    PHOTO #8    PHOTO #9    PHOTO #10

  • One story metal flex industrial building, constructed in 1978 for a subsidiary of Johnson & Johnson
     
  • 200' x 300', comprising 60,000 square feet of gross building area
     
  • 19' - 32' clear height to steel joists
     
  • Heavy concrete floors
     
  • Metal roof
     
  • Customizable executive office space, formerly 12,000 square feet and configured for general office areas, approximately 15 private offices, two conference rooms, two office rest rooms
     
  • Nurses office, cafeteria and two shop rest rooms
     
  • Central air conditioning and heat in shop and offices, large oil fired boiler
     
  • 8' x 8' loading dock with leveler
     
  • 8' x 8' drive-in door
     
  • Fire protection - wet sprinkler system

 

ZONING

I-1, Light Industrial.  According to the Dorchester County Code - "the Light Industrial District is established to allow a limited range of business, manufacturing, processing and storage uses that are compatible with adjoining uses."


For additional details:
http://www.docogonet.com/index.php?page=planning_zoning

 

REAL ESTATE TAXES

Dorchester County Tax Account No. 14-010912


Tax Map 31, Grid 20, Parcel 68


Full Value Assessment (2010):

Land

$ 401,100

Improvements

    425,600

Total

$ 826,700


Estimated annual Real Estate Taxes (2010) based on the current assessment - $8,333

 

TITLE

In fee simple.  The property is sold free and clear of liens.  Deed Liber 980, folio 492. 


LEGAL DESCRIPTION (pdf)

 

ENVIRONMENTAL

An ASTM Transaction Screen Process Report was prepared by Penniman & Browne, Inc., dated July 21, 2010.  The report did not find potential environmental concerns nor recommend further investigation. 


A copy of the environment assessment will be sent in PDF form upon receipt of the signed waiver: CONFIDENTIALITY & WAIVER FORM (pdf)

 

INSPECTION TIME

By appointment with the Auctioneers - telephone 410-752-8440, email dan@ajbillig.com, or one hour prior to the time of sale.

 

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 by 12 noon on Monday, November 8, 2010 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. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of sale to date of settlement.  All adjustments, including taxes, 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 sale 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.  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.


Broker participation is invited.
BROKER REGISTRATION FORM (pdf)


A member of the selling LLC is an inactive real estate agent.

 

FINANCING

GUARANTEED FINANCING IS AVAILABLE:

  • $150,000 down payment
     
  • 3.875% year one interest, 4.875% year two interest, 5.875% years three through five interest
     
  • 20-year amortization schedule, 5-year maturity