ABSOLUTE BANKRUPTCY AUCTION "Owings Mills" Development Property 1.1 Acre & Residence Special Exception for Offices

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Listing Details

Sold Price
$275,000
Auction Date
Auction Time
11:00 AM
Address
101 Meadow Road, Baltimore County, MD, 21117
County
Baltimore County
Neighborhood
Owings Mills
Scroll down for Complete Details, including: property description and Terms of Sale.

James C. Olson, Attorney
10451 Mill Run Circle - Suite 400
Owings Mills, MD 21117


ABSOLUTE BANKRUPTCY AUCTION
To The Highest Bidder - Regardless of Price!

 OWINGS MILLS, MD
DEVELOPMENT PROPERTY

1.1 Acres± & Residence

Zoned RAE2 - 80 Units/Acre
Special Exception for Offices


Located Near Hyatt Place Hotel,
Owings Mills Town Center, Atrium Village,
Major Office & Residential Development

Sale On Premises
101 MEADOW ROAD (a/k/a/ Meadows Road)
Off Red Run Boulevard between
Painters Mill Road and Owings Mills Boulevard
Baltimore County, MD 21117


WEDNESDAY, APRIL 22, 2009
AT 11:00 A.M.


Pursuant to an Order of the United States Bankruptcy Court for the District of Maryland passed in the matter of Garrison Forest Properties, LLC, Debtor, Case No. 09-10037-RAG (Chapter 11), the property located at 101 Meadow Road, Owings Mills, MD 21117, will be sold at Absolute Auction, to the highest bidder, regardless of price.

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 approximate and more or less.  Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the site.

LOCATION & DIRECTIONS:

101 Meadow Road is located in western Baltimore County, in the heart of the Owings Mills development area.  The site is near Owings Mills Town Center shopping mall, office buildings, restaurant park and movie theaters, I-795, Metro subway, T. Rowe Price headquarters, Owings Mills Physicians Pavilion, Hyatt and Hilton Hotels, Atrium Village retirement community, and thousands of single family homes, townhomes, garden and mid-rise apartment units.  Meadow Road leads south from Red Run Boulevard, one block west of Painters Mill Road and several blocks east of Owings Mills Boulevard.  Though situated amid major upscale development, the property is a secluded yet convenient potential development site.

The parcel is currently improved by a single family home and home office, which may be suitable for an interim use prior to redevelopment.

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

 

SITE AREA

47,916 square feet or 1.1 acres situated at the end of Meadow Road. The site is elevated above street grade, has scenic wooded vistas and views of new development. The parcel is a pentagonal configuration, fronting approximately 257' along Meadow Road by a depth of 218'.
Census Tract 4025.07

Baltimore County Tax Map 67, Grid 8, Parcel 295

A.D.C. Baltimore County Map Grid 24G06

FEMA Flood Map Panel 24001000220C - according to Harrison and Crain, Architects, the property is not located in a flood plain.

Utilities - electricity, telephone, private well, private septic

Asphalt paved parking area

PLAT (pdf)

TAX MAP (pdf)

WELL YIELD TEST REPORT (pdf)

 

ZONING:

RAE2 - Residence, Apartment, Elevator Zones "provide for development of elevator-apartment buildings at relatively high density, in residential settings close to the major commercial and cultural centers of the county, where ample utilities and other public facilities are available." Permitted uses include apartment buildings, certain offices and retail uses, housing for the elderly, etc. Gross residential density may not exceed 80 density units per acre.

See Section 201 of the Baltimore County Zoning Regulations

The property is currently occupied as a personal residence and a business office. The 100% use as a business office is permitted by special exception.

SPECIAL EXCEPTION LETTER (pdf)

Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the site.

 

IMPROVEMENTS

Two story vinyl sided traditional home - according to public tax records, the home was constructed in 1875.  Additions and renovation were made since the original construction.  The building is believed to contain approximately 3,200 square feet above grade, plus an unfinished basement.  The vinyl siding and composition shingle roof were replaced in 2000.  The home has Andersen double-glazed double-hung windows, a covered porch and a wooden storage building.  Interior finishes are plaster, drywall, carpeting, hardwood and vinyl flooring.

Photos of auction property
AERIAL PHOTO     EXTERIOR PHOTO #1     PHOTO #2     PHOTO #3

First Floor
Foyer
Living Room - wood stove installed in brick hearth, bookcases
2 - Dining Rooms
Galley Kitchen - wooden cabinets, dishwasher, range/oven and refrigerator
Family Room - wood stove
Sun Room
Half-Bath
Large Office Addition

Second Floor
Master Bedroom with additional attic storage
2 - Additional Bedrooms
Full Bath

Unfinished Basement
Divided into 2 rooms

Mechanical
Oil hot water radiators
Central air conditioning - approximately 6-tons in 2 units
300 ampere electrical service

 

REAL ESTATE TAXES

Tax Account No. 02-0206572060
2009 published annual real estate taxes - $5,123.12

 

TITLE

In fee simple.  Deed Liber 14566, folio 403.  The property is sold free and clear of liens.

 

ENVIRONMENTAL

A Phase I Environmental Report is available for inspection upon receipt of the a signed Waiver & Confidentiality Form (pdf).

 

INSPECTION TIME

One hour prior to auction or by appointment with the Auctioneers - phone 410-752-8440 or e-mail dan@ajbillig.com.

 

TERMS OF SALE

 A $50,000 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.  Balance to be paid in cash within 45 days.  Settlement may be extended for an additional 30 days at the sole option of the Seller.  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. All adjustments, including taxes, all other public charges and assessments payable on an annual basis, and 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, and subject to easements, agreements, restrictions or covenants of record affecting same, if any.  Purchaser assumes the risk of loss from the date of sale forward.  The purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law, and agrees to waive the well yield and potability test provisions under the Baltimore County Code.  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 Auctioneers.  Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the purchaser.  Time is of the essence.

No Buyer's Premium.

Broker participation is invited.
BROKER REGISTRATION FORM (pdf)

 

FINANCING

Financing opportunities are available; email dan@ajbillig.com for more information.