"Federal Hill" Commercial Condominium Unit 1,074 Square Feet - Zoned B-1-2

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Listing Details

Sold Price
$75,000
Auction Date
Auction Time
11:00 AM
Address
735-737 S. Hanover Street, Baltimore, MD, 21230
County
Baltimore City
Neighborhood
Federal Hill
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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REAL ESTATE AUCTION
                           
FEDERAL HILL

COMMERCIAL
CONDOMINIUM UNIT
1,074 Square Feet ◆ Zoned B-1-2
Former "Chas Hair Salon"

Sale On Premises
735-737 S. HANOVER STREET
Corner W. Montgomery Street
Baltimore, Maryland 21230

THURSDAY, APRIL 12, 2012
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:

735-737 S. Hanover Street is a street level retail/office space located at the northeast corner of Hanover and Montgomery Streets. Located two blocks west of the Inner Harbor, the property is within walking distance of major tourist attractions, hotels, restaurants, Oriole Park at Camden Yards, M&T Bank Stadium (Ravens), the MARC Train and thousands of private homes and apartments. I-395, which provides direct access to I-95 and I-695 (Baltimore Beltway) is two blocks west of the site.


Hanover Street is the main arterial connector from South Baltimore to Downtown, continuing east on Montgomery Street to the Inner Harbor. The traffic pattern and signal at the intersection provide for a high profile location with very visible signage.

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

 


UNIT:

The property is comprised of two interconnected first floor condominium units:
 

735 S. Hanover Street, Unit C1    
737 S. Hanover Street, Unit C2
Total
   564 square feet (gross building area)
   510 square feet
1,074 square feet


The units are located at the southwest corner of the Hanover Square South Condominium, facing both Hanover and Montgomery Streets. The condominium regime is comprised of fifteen condominium units, located in a renovated three story Federal-style brick building. Of the fifteen units, four are commercial.


The exterior features a wood facade with 4 display windows, two front entrances on Hanover Street and a side exit on Montgomery Street. Interior finishes are exposed brick walls, drywall and ceramic tile floors. The space has been used as a hair salon since 1991, but is suitable for a variety of office or retail uses.


The interior contains a large open area, 2 rest rooms, a kitchen and storage room. There are two heat pump and central air conditioning systems, a security alarm and a Panasonic phone system.

Photos of auction property
INTERIOR PHOTO #1    PHOTO #2    REST ROOM    KITCHEN


BLOCK PLAT (pdf)       CONDOMINIUM PLAT (pdf)
 

Condominium Fee:  $240/month
 
Metering: Separate electric meter
 
Parking: 4 permitted street spaces, additional spaces are available for rent on a lot within one-half block. On-street parking is adequate.
  
Zoning: B-1-2, Neighborhood Business District
BALTIMORE CITY ZONING CODE (pdf)
 
Restrictions: All uses allowed under a B-1-2 classification are permitted. However, the following activities are specifically prohibited by the Condominium Declaration - the sale or storage of food or alcoholic beverages, a gambling establishment (except state-sponsored lotteries), a video game arcade or an adult entertainment venue.
 

 

REAL ESTATE TAXES
Unit

    Full Value Assessment

    2011 Annual Taxes

C1
C2
$ 135,000
   135,000
$ 3,213
   3,213
Total $ 270,000 $ 6,426


Purchasers may petition for a reduction in the assessment of their property in conjunction with a purchase price substantially less than the currently assessed value of the property. Purchasers are encouraged to contact the Maryland State Department of Assessments & Taxation concerning the appeals process, and may see the following link for helpful information:
http://www.dat.state.md.us/sdatweb/appeal.html

 

TITLE

The property is in fee simple and sold free and clear of liens. Deed Liber 1803, folio 542.


The Condominium Documents are available to view. Please contact the office of the Auctioneer. 

 

INSPECTION TIME

The property is available for inspection by appointment or one hour prior to the auction.

 

TERMS OF SALE

A $5,000 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. 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, condominium fees, 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, and subject to the Declaration and Bylaws of the Hanover Square South Condominium, Inc. 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.  The Purchaser acknowledges that there is no right of rescission under MD Condominium Law as applied to the offered units.  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, April 11, 2012.

 

FINANCING

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