- Income Producing -
Offices ★ Shop ★ Zoned I1
$30,900 Gross Annual Income
Sale On Premises
4706 UPSHUR STREET
Between US-1 and Kenilworth Ave.
Prince George's Co., MD 20710
THURSDAY, OCTOBER 25, 2012
AT 11:30 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.
Great location, one block north of MD-450 (Annapolis Rd.), off 4160 Kenilworth Avenue. The property is situated 1.25 miles west of I-295 and 1.25 miles east of the Washington, D.C. borderline. Public transportation is within walking distance. The surrounding neighborhood is mostly commercial and industrial in nature.
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One story office building with attached shop/garage building, constructed in 1980 (according to tax records). A new roof was installed within the past 5 years. The interior is arranged as follows:
I1, light industrial (according to the Prince George's Office of Planning and Zoning ). Check with the Prince George's Office of Planning and Zoning for complete potential and permitted uses for the property, (301) 952-3195.
For accessing the Ordinance:
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Annual Real Estate Taxes - $4,486
The property is in fee simple and is being sold free and clear of all liens. The property is more fully described in a Deed recorded among the Land Records of Prince George's County in Liber 15655, Page 531.
The property has been leased to the METROpolitan Fence Company for the past 30 years and has been used for offices, fence fabrication and storage. The tenant's lease is currently on a month-to-month basis for $2,575/month. The lease is double net, with the landlord only responsible for the real estate taxes.
The lease is available to view. Please sign this: Waiver and Confidentiality Agreement (pdf), return it to the office of the Auctioneer and a copy of the lease will be sent by email.
By appointment or 10:30 a.m. on the day of the auction.
Deposit payable by certified or cashier's check of $15,000 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 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. 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 existing zoning and the rights of the current tenant; and subject to the current billboard easement and any other easements, agreements, restrictions or covenants of record affecting same, if any. All dimensions contained herein are more or less. 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 Sellers are 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, except where otherwise mandated by local, State or Federal law. Time is of the essence.
NO BUYERS PREMIUM!