Barry Weiskopf, Solicitor
Tydings & Rosenberg, LLP
100 E. Pratt Street, 26th Floor
Baltimore, MD 21202
SUBSTITUTE TRUSTEES' AUCTION
PRIME COMMERCIAL PROPERTY
Located in "Homeland" â€“ North Baltimore
5400 YORK ROAD
A/K/A 5400-5438 York Road
Corner Woodbourne Avenue
Baltimore, Maryland 21212
Sale On Premises
TUESDAY, JUNE 17, 2008
AT 2:00 P.M.
Under and by virtue of the power of sale contained in a certain Deed of Trust from 5400 York, LLC to the Trustee therein, dated February 8, 2007, and recorded among the Land Records of Baltimore City, Maryland, in Liber 10054, Page 664, the holder of the indebtedness secured thereby having appointed Barry Weiskopf and Gregory S. Weiner to act as Substitute Trustees, in place and stead of the aforementioned Trustee, by instrument duly executed, acknowledged and recorded among the Land Records aforesaid, default having occurred under the terms thereof and at the request of the party secured thereby, the undersigned Substitute Trustees will sell at Public Auction, on the premises, the following:
All that fee simple lot of ground and the improvements thereon, situate and lying in Baltimore City, State of Maryland and being more fully described in the Deed dated September 30, 2004 and recorded among the Land Records of Baltimore City, Maryland in Liber 06086, page 0294.
The property, comprising 1.4 acres, is situated along the west side of York Road and comprises the northwest corner of York Road and Woodbourne Avenue and the southwest corner of York and Tunbridge Roads. The site fronts approximate 424'9" along York Road, 120' along Woodbourne Avenue and 125' along Tunbridge Road. Curb cuts from York Road and Woodbourne Avenue provide ingress and egress to a paved rear parking lot. All public utilities are in the site. The property is believed to be zoned B-2-2, commercial.
The improvements are believed to comprise a one story brick and block neighborhood retail center, constructed in the 1940's and renovated in the 1980's and 1990's, and a two story freestanding brick office building, constructed in the 1980's.
5400-5422 York Road, the retail strip, is currently configured for 8 retail tenants, including York Dollar World, Corky's Liquors, Sun Light Carryout, Adam & Eve Beauty Supply, Ace Check Cashing, Jack's Deli, Subway Subs and Dunkin' Donuts. The building comprises 13,954 gross square feet of gross building area with current gross monthly rent roll of $19,900. Tenants have leases. Each storefront has a roof mounted gas furnace and central air conditioning unit, separate utility meters and at least one rest room.
5438 York Road, the office building, is believed to be configured for 6 tenants spaces. The building is believed to contain 16,052 gross square feet, of which approximately 3,929 square feet are believed to be occupied, the primary tenant being H&R Block Tax Service. The rented area has a current monthly rent roll of $4,554. The building is centrally air conditioned, has common area rest rooms an attractive sign and curb appeal.
DIMENSIONS, SQUARE FOOTAGE, ACREAGE AND RENTAL/TENANT INFORMATION CONTAINED WITHIN THIS ADVERTISEMENT ARE APPROXIMATE AND MORE OR LESS, AND WITHOUT WARRANTY OR REPRESENTATION. PROSPECTIVE PURCHASERS ARE ENCOURAGED TO PERFORM THEIR OWN DUE DILIGENCE PRIOR TO THE AUCTION. CURRENT RENT ROLL, PLATS, AND PHOTOS ARE POSTED ON THE AUCTIONEER'S WEB SITE - (see below).
TERMS OF SALE: A $200,000 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 Auctioneerâ€™s Office. The holder of the indebtedness, if a bidder at the sale, shall not be required to post a deposit. Balance to be paid in cash at settlement, which shall take place within ten (10) business days following final ratification of the sale by the Circuit Court for Baltimore City at the offices of the Substitute Trustees. 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 stated in the Note executed in connection with the foreclosed Deed of Trust, from date of sale to date of settlement. All adjustments as of date of sale. Taxes, rents 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 nature and description of the improvements as contained herein, subject to the rights of the tenants in possession of all or part of the property, subject to existing leases and subject to easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser shall be responsible for obtaining physical possession of the property and assumes the risk of loss or damage to the property from the date of sale forward. The purchaser waives and releases the Substitute Trustees, the holder of the indebtedness, 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 Substitute Trustees 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 Substitute Trustees, the holder of the indebtedness or Auctioneers. Recordation costs, transfer taxes and all other costs incident to settlement, including a $300 document review fee by the Sellerâ€™s attorney, to be paid by the purchaser. Time shall be of the essence for the purchaser.
No Buyers Premium
Barry Weiskopf and Gregory S. Weiner
For information about the Homeland neighborhood, visit:
For directions from your location, visit: MapQuest
BLOCK PLAT (pdf)
SITE PLAT (pdf)
To receive a copy of the Rent Roll and Lease Abstract by email or fax, please sign and return this WAIVER & CONFIDENTIALITY FORM.