"The Block - Downtown Baltimore" Adult Nightclub Building Known As "The Oasis" Leased for $49,680 - Triple Net

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Listing Details

Sold Price
$333,000
Auction Date
Auction Time
11:00 AM
Address
417 E. Baltimore Street, Baltimore, MD, 21202
County
Baltimore City
Neighborhood
Baltimore
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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REAL ESTATE AUCTION

- The Block -
ADULT NIGHTCLUB BUILDING

Known As "The Oasis"

 

Leased for $49,680 Per Year - Triple Net

Sale On Premises
417 E. BALTIMORE STREET
Downtown Baltimore, MD 21202

WEDNESDAY, SEPTEMBER 1, 2010
AT 11:00 A.M.



        THE INFORMATION CONTAINED HEREIN HAS BEEN OBTAINED FROM SOURCES DEEMED RELIABLE AND BELIEVED TO BE ACCURATE.  HOWEVER, NO EXPRESS OR IMPLIED WARRANTY IS MADE AS TO THE ACCURACY OF THESE REPRESENTATIONS.  ALL DIMENSIONS AND ACREAGE CONTAINED HEREIN ARE MORE OR LESS. 


GENERAL INFORMATION

LOCATION & DIRECTIONS:

417 E. Baltimore Street lies in “Downtown” Baltimore City.  The Downtown area is defined by Lombard Street to the south, I-83 and President Street to the east, Centre Street to the north and Eutaw Street to the west.  The area is comprised of a mixture of commercial uses comprising offices, retail and restaurants, apartments, condominium units and townhomes. 

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


The immediate site area is known as “The Block.”  The Block now comprises mostly the unit block of 400 E. Baltimore Street.  It is a Baltimore landmark and well known for it’s adult entertainment. This strip of commercial properties consists of many adult bars and night clubs, adult oriented retail stores and fast food restaurants.  Ample parking is available nearby in public parking lots and on the street.  Access to I-83 is within minutes via Gay Street to the northwest.


Photos of auction property
NORTH SIDE OF THE BLOCK    SOUTH SIDE OF THE BLOCK   
STREET SCENE - FACING WEST    STREET SCENE - FACING EAST   
BALTIMORE STREET TO THE WEST    COMMERCE STREET TO THE SOUTH


The following was extracted from livebaltimore.com:

“The historic heart of Downtown Baltimore, City Center encompasses such communities as Historic Charles Street, Charles Center, and Market Place, and is home to hundreds of businesses and offices.

Downtown's Inner Harbor features world class attractions such as the National Aquarium and Port Discovery Children's Museum as well as thousands of hotel rooms and acres of meeting space. One can enjoy fine shopping, dining, and entertainment at Harborplace, the Power Plant, and Power Plant Live. Nearby communities include Little Italy, Historic Jonestown, Harborview, and Inner Harbor East.

The focus of massive new investments, Downtown's West Side is being transformed by ambitious development projects such as the just completed Atrium at Market Center. West Side communities include University Center, and the Loft District.

Home to both the Baltimore Orioles and Baltimore Ravens, Camden Yards is much more than just architecturally acclaimed sports stadiums. Camden Yards is the gateway to downtown with unparalleled access from I-395, the Baltimore/Washington Parkway and MARC's Camden Line with service to Washington DC. Enjoy the Babe Ruth Birthplace Museum, neighborhood bars and restaurants while you are here. Nearby communities include the neighborhood of Ridgley's Delight and the Carol Camden Business Center.”


For more information on Power Plant Live, visit:
http://www.powerplantlive.com/

For information on the Baltimore Inner Harbor, visit:
http://www.baltimore.to/baltimore.html  

For information on Harborplace, visit:
http://www.harborplace.com/ or
http://www.baltimore.to/Harborplace/index.html

 

SITE AREA

The property is located in the Downtown Baltimore City business district, just north of the Inner Harbor.  The property fronts 15.25 feet on E. Baltimore Street, with depths of 99.33 feet and 99.38 feet, and a rear lot line of 17.33 feet.  The building lies on the south side of E. Baltimore Street, between Custom House Avenue and S. Gay Street.  The lot is mostly level, comprising 0.03 acre, more or less.  The improvements cover approximately 100% of the site.

Serviced by public water, public sewer and natural gas

Block Plat

Legal Description

 

IMPROVEMENTS

Two story masonry and brick building, comprising approximately 2,891+ gross square feet (not including the basement area).  The building has a built-up tar roof, recently installed gutters and downspouts and recently installed first floor entrance.  The building is heated by a heatpump system and is cooled by two-zone central air conditioning.  The interior of the building is finished and arranged as follows:
Photos of auction property
1ST FLOOR BAR - PHOTO #1    PHOTO #2
2ND FLOOR BAR    2ND FLOOR STAGE    CEILING
DRESSING ROOM - PHOTO #1    PHOTO #2


First floor (1,529+ square feet) - Large bar area with mirrored and carpeted walls, acoustical tile ceiling (approximately 10 feet high) with spot lighting and ceramic tile flooring.  In the rear of the bar area are Men’s and Ladies’ rest rooms.  In the rear of the first floor is a private office with drywall walls and ceiling (approximately 7 feet high), flourescent lighting and terrazzo tile flooring.  There is also a small storage room in the rear. 

Second floor (1,362+ square feet) - This level can be accessed from a public stairway in the front of the building (just beyond the entrance doors) or through a rear stairway (designated for employee use).  The second floor was recently completely renovated.  There is large bar area with tin ceiling, marble floor, mirrored and paneled walls and an attractive wooden 43 foot bar with a stage in the rear of the bar.  Two modern ceramic tile rest rooms are situated in the rear of the bar area.  Beyond the rest room area is a dressing room.  This area has it’s own built-in window air conditioner.

Basement (597+ square feet) - This area can be accessed only from an exterior sidewalk door in front of the building.  The floor is concrete and the area is mainly only suitable for storage.

 

ZONING

B-5-2, commercial, Check with the Baltimore City Office of Planning and Zoning for complete potential and permitted uses for the property (410-396-4126) or visit:
http://cityservices.baltimorecity.gov/charterandcodes/Code/Art%2000%20-%20Zoning.pdf

 

REAL ESTATE TAXES

Annual Real Estate Taxes - $8,685

 

TITLE

In fee simple; sold free and clear of all liens.  The property is identified as Lot 7 in Block 1350, Section 11, Ward 4 and is more fully described in a Deed recorded among the Land Records of Baltimore City in Liber S.E.B. 240, Folio 732.

 

INCOME POTENTIAL

The property is currently leased for $4,140, per month or $49,680, per year until June 30, 2016.  The tenant pays all interior maintenance including the plumbing, HVAC and electric, as well as the real estate and amusement taxes, utilities, etc.  The landlord is responsible for the roof and maintenance of the exterior structure walls, not including the maintenance of the windows.


The lease is available to view. Please sign and return this: WAIVER AND CONFIDENTIALITY FORM (pdf) by fax: 410-385-1841 or by email: info@ajbillig.com.

 

INSPECTION TIME

By appointment or 10:00 a.m. on the day of the auction

 

TERMS OF SALE

Deposit payable by certified or cashier's check of $25,000 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 office of the Auctioneers.  Balance to be paid in cash within 45 days. If payment of the balance does not take place within the specified time, the deposit will be forfeited and the property may be resold at the risk and expense of the defaulting purchaser. 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 settlement 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; the rights of the existing tenant, and subject to easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser assumes 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.  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 Auctioneer.  Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the purchaser. TIME IS OF THE ESSENCE.  

    
NO BUYERS PREMIUM!

    
Broker participation is invited.
BROKER REGISTRATION FORM (pdf)