"Upper Fells Point" Landmark Theater Building "The Apex" 6,750± Sq. Ft. - Zoned B-2-3 $32,619 Current Annual Gross Income

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Listing Details

Sold Price
$295,000
Auction Date
Auction Time
11:00 AM
Address
108 S. Broadway, Baltimore, MD, 21231
County
Baltimore City
Neighborhood
Upper Fells Point
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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15903_broadway108_Building - Exterior.jpg

REAL ESTATE  AUCTION

 

UPPER FELLS POINT
Blocks From Johns Hopkins Medical Campus

 

LANDMARK THEATER BUILDING
"The Apex"
6,750± Sq. Ft. ★ Zoned B-2-3

- $32,619 Current Annual Gross Income -

Sale On Premises
108 S. BROADWAY
Off 1700 E. Pratt Street
Baltimore City, MD 21231

FRIDAY, OCTOBER 11, 2013
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:

Upper Fells Point is an historic neighborhood located in east Baltimore City. The location is very well known for its incorporation with the Johns Hopkins Medical Campus, and along with the adjoining neighborhoods of Fells Point, Butcher’s Hill and Canton, is among the most in demand neighborhoods in Baltimore City. The property’s location on Broadway, the main north-south artery in east Baltimore, offers high visibility with great access throughout the city. Employment, shopping, dining, entertainment, parks and schools are all within walking distance.


For more information, please see:
http://livebaltimore.com/neighborhoods/upper-fells-point


For additional information, please see:
http://www.upperfellspoint.org/

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

 

SITE AREA

Irregularly shaped L-shaped parcel fronting 48'6" on S. Broadway, 31' along E. Pratt Street, depths of 133' from S. Broadway and 120' from E. Pratt Street.


Public water and sewer are in the site.


BLOCK PLAT  (pdf)

 

IMPROVEMENTS

Brick two story theater building.   The interior features a ticket booth, 580 seating capacity theater, his and her rest rooms and two front and two rear exits, on the first floor; mezzanine with projection room, powder room and two utility rooms, on the second floor.  The interior is in need of renovation.

 


 


FINANCIAL INFORMATION:

The property is currently leased for $2,718.28 per month or $32,619 annually.   The previous lease has expired and the tenant is currently occupying the property on a month to month basis.


For additional financial information including a 2012 Operating Statement, please fill out the WAIVER AND CONFIDENTIALITY FORM (pdf) and either email: info@ajbillig.com or fax to the Auctioneers: 410-296-4420.

 

ZONING

B-2-3, business district.  Zoning Code:
http://www.griaonline.org/wp-content/uploads/Explanation+of+City+Zoning+Categories.pdf


For additional zoning information, please 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://www.baltimorecity.gov/Portals/0/Charter%20and%20Codes/Code/Art%2000%20-%20Zoning.pdf

 

REAL ESTATE TAXES

Published annual real estate taxes for 2013-2014 are $5,208.52

 

TITLE

The property is in fee simple and sold free and clear of liens.

 

TERMS OF SALE

Deposit payable by certified or cashier's check of $20,000 will be required of the purchaser at time and place of sale.  The deposit shall be increased to 10% of the purchase price within 72 hours at the office of the Auctioneers.  Balance to be paid in cash at settlement, which shall take place 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. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of sale to date of settlement.  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 existing zoning or permitted uses, and 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 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.  Time is of the essence. NO BUYER'S PREMIUM!

 

FINANCING

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