"Laurel" Commercial Building "Sam & Elsie's Bar & Restaurant" 4,300 +/- Sq. Ft., 0.57 Acre, 40 Car Parking

14955_washington9994_front.jpg

Listing Details

Sold Price
$380,000
Auction Date
Auction Time
10:30 AM
Address
9994 Washington Blvd. (US 1), Howard County, MD, 20723
County
Howard County
Neighborhood
Laurel
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

Use Mobile?
14955_washington9994_rear.jpg
14955_washington9994_rear.jpg
14955_washington9994_street1.jpg
14955_washington9994_street2.jpg
14955_washington9994_street3.jpg
14955_washington9994_taxmap.jpg
14955_washington9994_front.jpg

Jordan M. Spivok, Solicitor
Protas, Spivok & Collins, LLC
4330 East West Highway, Suite 900
Bethesda, Maryland 20814

SUBSTITUTE TRUSTEES' SALE

- LAUREL -

 

"Sam & Elsie's Bar & Restaurant"
 
COMMERCIAL BUILDING
4,300 +/- Sq. Ft. ◆ 0.57 Acre ◆ 40 Car Parking

ZONED CAC-CLI

Sale On Premises
9994 WASHINGTON BLVD. (US 1)
Near Laurel Race Track
Howard County, MD 20723

TUESDAY, APRIL 10, 2012
AT 10:30 A.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 Sam and Elsie's, LLC to Daniel J. Schrider and Steven E. Anderson, Trustees, dated  August 3, 2007 and recorded among the Land Records of Howard County, in Liber 10878, Folio 680, the holder of the indebtedness secured thereby having appointed Jordan M. Spivok and Philip J. Collins to act as Substitute Trustees, in place and stead of the aforementioned Trustees, by instrument duly executed, acknowledged and recorded among the Land Records aforesaid, default having occurred under the terms thereof and at the request of the party secured thereby, the undersigned Substitute Trustees will sell at Public Auction, on the premises, the following:


      All those fee simple lots of ground and the improvements thereon, situate and lying in Howard County, State of Maryland, and being more fully described in the above  recorded Deed of Trust.


      The property is improved by a two story vinyl sided free standing building comprising  4,300 square feet, more or less.  The building features vinyl replacement windows, central air (first floor only), heatpumps, newly installed rear 20 seat deck, and contains a front dining area (40 seats), paneled bar area (12 seats), rear dining room (10 seats), commercial kitchen with 2 walk-in coolers, 2 rest rooms and storage room, on the first floor; owner's apartment/office on the second floor with meeting room, 3 bedrooms (offices), shower bath and storage room; basement.  Lot size: 24,829 sq. ft. or 0.57 acre, more or less.  40 car asphalt paved parking lot.  Zoned CAC-CLI (Corridor Activity Center-Continuing Light Industrial).


       INTERIOR LAYOUT SKETCH (pdf)


Additional Photos:
Photos of auction property
PARKING AREA PHOTO #1    PHOTO #2    REAR DECK AREA
INTERIOR PHOTO #1    PHOTO #2    PHOTO #3    PHOTO #4


      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 within 24 hours at the Auctioneer's Office.  The holder of the indebtedness, 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 Howard 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 foreclosed Deed of Trust Note, 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 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 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 and all other costs incident to settlement. Time shall be of the essence for the purchaser.  No Buyers Premium.


Jordan M. Spivok and Philip J. Collins,
Substitute Trustees


BIDDER PRE-REGISTRATION

Online pre-registration is now closed. Please register with the Auctioneer at the auction site.