"South Baltimore - Locust Point Industrial Area" Two Story Brick Tavern Building

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Listing Details

Sold Price
$241,000
Auction Date
Auction Time
2:00 PM
Address
1230 E. Fort Avenue, Baltimore, MD, 21230
County
Baltimore City
Neighborhood
South Baltimore, Locust Point Industrial Area
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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Ashley C. Haun, Solicitor
ROETZEL & ANDRESS, LPA
600 14th Street, NW - Suite 400
Washington, DC 20005

SUBSTITUTE TRUSTEE'S AUCTION
                                    
SOUTH BALTIMORE
“Locust Point Industrial Area"

Two Story, Brick
TAVERN BUILDING
Occupied By “BARRACUDAS"
f/k/a Luca's Café

Sale on Premises
1230 E. FORT AVENUE
Corner Armour Street
Baltimore City, MD 21230

THURSDAY, AUGUST 22, 2013
AT 2:00 P.M.

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


      Under and by virtue of the power of sale contained in a certain Deed of Trust from Christopher Maler to the Trustee therein, dated October 12, 2007, and recorded among the Land Records of Baltimore City, Maryland, in Liber 10089, Page 54, the holder of the indebtedness secured thereby having appointed Stanley H. Goldschmidt to act as Substitute Trustee, in place and stead of the aforementioned Trustee, 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 Trustee 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 Baltimore City, State of Maryland and being more fully described in the above-referenced Deed of Trust; lot size 13'5" x 100', more or less.


      The property is improved by a two story end-of-group brick tavern building.  According to public tax records, the building was constructed in 1880 and contains 2,045 square feet of gross building area.  Baltimore City Zoning Officials indicate that the property is located in an R-8, residential zoning district with a permitted non-conforming use as a tavern and restaurant on the first and second floors.  The building is believed to contain a first floor bar, commercial kitchen, second floor seating, rest rooms, gas heat and central air conditioning.


       BLOCK PLAT (pdf)


      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.


      TERMS OF SALE:  A $20,000 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 Baltimore City at the offices of the Substitute Trustee.  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.  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;  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 Trustee, 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 Trustee 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 Substitute Trustee, the holder of the indebtedness or Auctioneers.  Recordation costs, transfer taxes and all other costs incident to settlement to be paid by the purchaser.  Time shall be of the essence for the purchaser.


      Authority to cancel this sale rests solely with the Substitute Trustee and/or the Auctioneer. Prospective buyers should disregard all other statements and comments made by any other person or entity regarding minimum bids, pricing and cancellations of the sale. Additional terms may be announced at the time of sale. The Substitute Trustee reserves: (1) the right to accept or reject any or all bids; (2) the right to modify or waive the requirements for bidders' deposits and terms of sale and/or settlement; (3) the right to withdraw the Property from the sale before acceptance of the final bid; and (4) the right to cancel or postpone the sale.


No Buyer's Premium


Stanley H. Goldschmidt, Substitute Trustee

 

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