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Downtown Market Center - Commercial Complex Office & Loft Buildings, Zoned B-4-2, 118,000± Sq. Ft.

14351_eutaw312_320_aerial.jpg

Listing Details

Auction Date
Thursday,
Auction Time
11:00 AM
Address
312 and 320 N. Eutaw Street, Baltimore, MD, 21201
County
Baltimore City
Neighborhood
Downtown Market Center
Scroll down for Complete Details, including: property description, Terms of Sale and more.

REO Disposition at Public Auction
- Baltimore, Maryland -


 Major Redevelopment Opportunity


DOWNTOWN MARKET CENTER
COMMERCIAL COMPLEX

Office & Loft Buildings  Zoned B-4-2  118,000± Sq. Ft.

 

Near University of Maryland Medical Center & Professional Campus,
Social Security Administration and Lexington Market

 

312 N. EUTAW STREET
Former C&P Telephone Building
Four Story Office Building - 31,875± Sq. Ft.

320 N. EUTAW STREET
Former Maran Building
Loft Buildings - 86,933± Sq. Ft.

 


To Be Offered On The Premises Individually and as an Entirety
THURSDAY, NOVEMBER 4, 2010 ● 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:

The properties are located in the Baltimore Downtown’s Westside Revitalization District.  According to the district web site, nearby recently completed and ongoing redevelopment projects include:

  • The Hippodrome at the France-Merrick Performance Center
     
  • The Atrium at Market Center (formerly the Hecht Company), a $20,000,000 project
     
  • The Stewarts Building, a $24,000,000 project
     
  • University of Maryland, Baltimore (UMAB), $224,000,000 in new construction will be completed during the next few years
     
  • Bank of America’s Centerpoint, $79,000,000 mixed-use new construction
     
  • World Famous Lexington Market, $4,200,000 interior and exterior renovation
     
  • University of Maryland Medical Center, $218,000,000 to be spent on phase three expansion and development projects


The area is recognized by the National Register of Historic Places as "Market Center" and is located in a designated Enterprise Zone, providing opportunities for tax credits and employment benefits.  Also located within a short walk are:

  • Baltimore VA Medical Center
     
  • Maryland General Hospital
     
  • Oriole Park at Camden Yards
     
  • M&T Bank (Ravens) Stadium
     
  • Social Security Administration Downtown Baltimore office complex
     
  • University of Baltimore
     
  • Baltimore’s Cultural Arts District
     
  • Baltimore’s Financial District
     
  • Baltimore’s Inner Harbor


The auction site is opposite the Metro Light Rail Offices.  Subway, light rail and MTA bus service are within one block.  312 N. Eutaw Street (fka 312-314 N. Eutaw Street) is an office building, formerly occupied by C&P Telephone Company.  320 N. Eutaw Street (fka 316-322 N. Eutaw Street and 405-411 W. Mulberry Street) is a loft building, formerly occupied by the Maran Printing Company and more recently used as a night club complex and offices.  The properties are contiguous and front on N. Eutaw and W. Mulberry Streets.


Popular Links:

www.downtownwestside.com

www.marketcenterbaltimore.org

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

 

 

312 N. EUTAW STREET
Former C&P Telephone Building
Four Story Office Building - 31,875± Sq. Ft.


SITE:

Rectangular lot - approximately 55' x 139', comprising 7,645 square feet of land

Fully improved

All public utilities are in the site


BLOCK PLAT (pdf)


ZONING:

B-4-2, Central Business District


Link for Baltimore City Zoning Code:
http://www.baltimorecity.gov/Portals/0/Charter%20and%20Codes/Code/Art%2000%20-%20Zoning.pdf


IMPROVEMENTS:

Four-story, five-level brick contemporary office building - according to public tax records, the building was constructed in 1970.  The building was used for offices and telecommunications.  Interior finishes are drywall, acoustical tile ceilings with fluorescent lighting, vinyl and carpeted flooring.  Steel beams and concrete floors for each level; built-up roof; chemical fire suppression system.  There are front and rear elevators.  HVAC consists of gas forced air heat and central air conditioning.  Extensive renovation is needed.


Photos of auction property
INTERIOR - PHOTO #1    PHOTO #2    PHOTO #3    PHOTO #4   
PHOTO #5    PHOTO #6    PHOTO #7


FLOOR PLANS (pdf)


TAXES:

Baltimore City Tax Account No. 030403-0576-038


2010 Full Value Tax Assessment:

 

Improvements
Land 
Total 

  $2,122,100
      268,700
 $2,390,800

 


Annual real estate taxes for 2010 are $56,901.  Property taxes may be reduced based on the purchase price of the property.


TITLE:

Deed Liber 11369, Page 293.  In fee simple.  The property will be sold free and clear of liens.

 

 

320 N. EUTAW STREET
Former Maran Building
Loft Buildings - 86,933± Sq. Ft.

Photos of auction property
FRONT VIEW - PHOTO #1    PHOTO #2    PHOTO #3
REAR VIEW    SIDE ALLEY


SITE:

L-shaped lot - fronting approximately 80' along the west side of N. Eutaw Street and approximately 60' along the south side of W. Mulberry Street, comprising approximately 14,287 square feet

Fully improved

All public utilities are in the site


BLOCK PLAT (pdf)


ZONING:

B-4-2, Central Business District

Link for Baltimore City Zoning Code:
http://www.baltimorecity.gov/Portals/0/Charter%20and%20Codes/Code/Art%2000%20-%20Zoning.pdf


IMPROVEMENTS:

Five to six story (seven level) brick loft buildings - according to public tax records, the buildings were constructed circa 1890.  Previously used for manufacturing and as a night club, the structures need extensive renovation.  The buildings have one freight elevator, 10'-13' ceiling heights, concrete pillars and beams, wood floor, front and rear stairs, multiple entrances and a very attractive pillared exterior facade.


Photos of auction property
FACADE CLOSE-UP - PHOTO #1    PHOTO #2
NIGHT CLUB - PHOTO #1    PHOTO #2
UPPER FLOORS - PHOTO #1    PHOTO #2    PHOTO #3    PHOTO #4    PHOTO #5


FLOOR PLANS (pdf)


TAXES:

Baltimore City Tax Account No. 030403-0576-036


2010 Full Value Tax Assessment:

 

Improvements
Land  
Total 

  $   430,300
      502,400
 $   932,700

 


Annual real estate taxes for 2010 are $22,198.  Property taxes may be reduced based on the purchase price of the property.


TITLE:

Deed Liber 11369, Page 293.  The properties are subject to two annual ground rents of $125, payable semi-annually on April 1 and October 1 and $34, payable semi-annually on March 1 and September 1.  The property will be sold free and clear of liens.



GENERAL INFORMATION


INSPECTION:

By appointment with the auctioneers or one hour prior to the time of sale.
Email info@ajbillig.com or call 410-752-8440


ENVIRONMENTAL REPORT:
A Phase I Environmental Assessment, dated August 17, 2004 is available.  Please complete and return the waiver form: CONFIDENTIALITY AND WAIVER FORM (pdf)


MANNER OF SALE:

Each property will be offered individually and the bids reserved, the then both will be offered as an entirety.  The sale will be made in the manner producing the greater amount.


TERMS OF SALE:

A $50,000 deposit on each parcel or $100,000 if sold as an entirety, 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 30 days.  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. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of sale to date of settlement.  All adjustments, including taxes, ground rents, 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 sale 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, and subject to building violation notices, if any.  Purchaser assumes the 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 Auctioneers.  Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the Purchaser.  Time is of the essence.


BROKER PARTICIPATION IS INVITED:
BROKER REGISTRATION FORM (pdf)


Auction by order of:
Acme Real Estate, LLC by Access National Bank, Member