"Cumberland" Mixed-Use Brick Commercial Building Retail/Office, 5 Apartments, 3-Bay Storage

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Listing Details

Sold Price
$350,000
Auction Date
Auction Time
12:00 PM
Address
11600 Bedford Road, Allegany County, MD, 21502
County
Allegany County
Neighborhood
Cumberland
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

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Ronald B. Katz, Solicitor
11403 Cronridge Drive - Suite 230
Owings Mills, MD 21117

SUBSTITUTE TRUSTEES’ SALE
                           
CUMBERLAND

MIXED-USE, BRICK
COMMERCIAL BUILDING
Retail/Office5 Apartments3-Bay Storage

14,600± Sq. Ft.1.64± AcresZoned B-2

 

Sale On Premises
11600 BEDFORD ROAD
One Block West of I-68
Allegany County, MD 21502

Sale On Premises
WEDNESDAY, NOVEMBER 13, 2013
AT 12:00 P.M.

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


      Under and by virtue of the power of sale contained in a certain purchase money Deed of Trust from KJC Marketing, LLC to Trustees, dated January 7, 2008 and recorded among the Land Records of Allegany County, MD, in Liber 1456, Folio 33,  the holder of the indebtedness secured thereby having appointed Ronald B. Katz and Eric A. Hartlaub as Substitute Trustees, default having occurred thereunder, the undersigned Substitute Trustees will sell at Public Auction the following:


      All those fee simple parcels of ground situate and lying in Allegany County, Maryland and being more fully described in the aforementioned Deed of Trust.


      The property is improved by a two story brick mixed-use commercial building believed to comprise 14,600 square feet, more or less. The first floor front contains 3 storefronts. The second floor has 5 apartment units, with living room, kitchen, 2 bedrooms and bath. The lower level rear comprises a 3-bay garage area, coin operated laundry area, storage and break room.  All units are separately metered.  Macadam paved 26 car parking area. The site comprises 3 parcels (Tax ID #s 34-011001 - Parcel 0172, 34-010951 - Parcel 0194, 34-010978  - Parcel 0193) for a total of 1.64 acres, more or less. 


      The information pertaining to the improvements has been obtained from sources deemed reliable, but no warranty is made as to the accuracy of this information.


      TERMS OF SALE:  A deposit by certified check or cashier's check of $30,000 will be required of the purchaser at time and place of sale. Deposit to be increased to 10% of the purchase price within 24 hours at the offices of the Auctioneer. 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 Allegany County at the offices of the Substitute Trustees.  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 Deed of Trust Note, per annum  from date of sale to date of settlement.  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 zoning, nature and description of the improvements as contained herein; and subject to easements, agreements, restrictions or covenants of record affecting same, if any.  Purchaser shall be responsible for obtaining physical possession of the property.  All dimensions contained herein are more or less.  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, Noteholder, or Auctioneer.  Cost of all documentary stamps, transfer taxes, and all other costs incident to settlement to be paid by the purchaser.  Time shall be of the essence for the purchaser.  The risk of loss is on the purchaser from the date of sale.


Ronald B. Katz,
Eric A. Hartlaub, Substitute Trustees