"North East" Prime Commercial Property Sold prior to Auction Car Wash and Detailing Facility 0.61 Acre± Zoned BG

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Listing Details

Sold Price
$475,000
Auction Date
Auction Time
11:00 AM
Address
2376 Pulaski Highway, Cecil County, MD, 21901
County
Cecil County
Neighborhood
North East
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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This auction has been CANCELED.

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

SUBSTITUTE TRUSTEES' AUCTION

- NORTH EAST -

PRIME COMMERCIAL PROPERTY
Currently Occupied by
NORTH EAST CAR WASH & DETAILING

 

0.61 ACRE±  ZONED BG
Fronting 369' Along the South Side of
Pulaski Highway (U.S. Route 40)

Sale On Premises
2376 PULASKI HIGHWAY
Just East of MD-272
Cecil County, Maryland 21901

FRIDAY, JUNE 25, 2010
AT 11:00 A.M.

(Open for inspection at 10:00 A.M.)


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


        Under and by virtue of the power of sale contained in a certain Indemnity Deed of Trust from Worthy, Inc. the Trustees therein, dated July 19, 2007, and recorded among the Land Records of Cecil County, Maryland, in Book 2381, Page 066, the holder of the indebtedness secured thereby having appointed the undersigned 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 that fee simple lot of ground and the improvements thereon, situate and lying in Cecil County, State of Maryland and being more fully described in the above-referenced Deed of Trust.


        The property comprises approximately 26,538 square feet of land, fronting approximately 369' along the south side of Pulaski Highway (U.S. Route 40), approximately 385' along Cameron Road (f/k/a Old Port Deposit Road and Razor Strap Road) in the rear, with depths of approximately 20' to 122'.  Dimensions, square footage and acreage mentioned within this advertisement are more or less.  According to public tax records, the site is zoned BG, Business-General.  The site has excellent visibility from eastbound or westbound Pulaski Highway.


        LEGAL DESCRIPTION (pdf)


        The improvements are believed to comprise a one story masonry automotive facility, occupied by a car wash.  The facility appears to contain automatic tunnel wash, 5 self-service bays (each approximately 435 square feet), 4 vacuum stations, an office and detail shop (approximately 990 square feet).


        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 Cecil 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; and subject to the right of redemption for 120 days by the Internal Revenue Service.  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, including a $300 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


Stephen M. Goldberg and Stephen B. Bradley,
Substitute Trustees