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Available: $400,000 - "Southwest Baltimore"

Self-Storage Facility
34 Storage Units, Leased Office Unit
$57,540 Current Scheduled Gross Annual Income At 74% Occupancy
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Listing Details

Auction Date
Wednesday,
Auction Time
11:00 AM
Address
3200 Lily Avenue, Baltimore, MD, 21227
County
Baltimore City
Neighborhood
Southwest Baltimore
Terms Of Sale
A 10% deposit, payable by cashier's check, will be required of the purchaser at time and place of sale. No buyer's premium. For complete Terms Of Sale, see the Summary Terms Of Sale at the bottom of this page and see the Sample Contract:
Showing and Inspection
The property will be open 1 hour prior to the auction.
Additional Documents
Financing
See our Financing Page for a list of auction-oriented lenders.
Scroll down for Complete Details, including: property description, additional photos and more.

Additional Photos

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  AVAILABLE: $400,000  

 

SOUTHWEST BALTIMORE

SELF-STORAGE FACILITY
34 Storage Units ◆ Leased Office Unit

$57,540 Current Scheduled
Gross Annual Income At 74% Occupancy


Patapsco Public Storage
3200 LILY AVENUE
Corner W. Patapsco Avenue
Baltimore, MD 21227

 

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:
Patapsco Public Storage is located in southwestern Baltimore City, just north of the Baltimore City-County Line. The site is midway between the Harbor Tunnel Throughway (I-895) and Baltimore Washington Parkway (I-295), west of Ritchie Highway (MD-2) and east of Caton Avenue and I-95. Patapsco Avenue is a heavily traveled traffic artery with median strip and 2017 traffic volume averaging 23,975 vehicles per day. The site is east of Lansdowne, west of Brooklyn, south of Cherry Hill and north of Baltimore Highlands. Public transportation is available on Patapsco Avenue. The property is close to Downtown Baltimore with excellent highway access. Surrounding residential neighborhoods and small businesses provide a substantial customer base from which to draw.

SITE:
Triangular lot, fronting 145' along W. Patapsco Avenue and 367' along Lily Avenue, comprising 0.57 acre of land.

Public water, sanitary sewer, gas and electricity are in the site

Zoning R-4, permitted non-conforming use for a warehouse

The majority of the site is asphalt paved. The side and rear yards are chain link fenced.

A small parking area is located along Patapsco Avenue with additional parking on the north side yard and along Lily Avenue.

IMPROVEMENTS:
One story concrete block self-storage facility, built in 1987 and comprising 6,400 square feet of gross building area, according to public tax records.

  • New composition shingle roof, installed 2019
  • Recently repainted
  • 34 Self-Storage Units, ranging from 5' x 10' to 20' x 20', under month-to-month and six-month leases. Large units have overhead doors. Smaller units have pedestrian doors.
  • Office Unit with gas heat, central air and additional attached Storage Unit, leased until 2024.
  • Security cameras

FINANCIAL INFORMATION:
Please complete the Waiver and Confidentiality Agreement form to receive the rent roll, income and expense information and leases.

TITLE:
The property is in fee simple and sold free and clear of liens. Baltimore City Deed Book 20899, Page 249.

TAXES:
Published annual real estate taxes are $5,855.16, based on a full value assessment of $248,100.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A 10% deposit, payable by cashier's check, will be required of the Purchaser at time and place of sale. Deposit funds shall be held by A. J. Billig & Co., LLC. Balance to be paid in cash at settlement, which shall take place within 45 days. If payment of the deposit or 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, rents, all other public charges and assessments payable on a monthly or 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 contract 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 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.