Go Back WednesdayMarch 1, 2017 — 11:00am
Public Auction Sale
2.97 +/- Acre Commercial Development Site with Existing Office Building Featuring Excellent Visibility on Westminster Road and I-795 in "Reisterstown"
137 Westminster Rd., Reisterstown, MD 21136 (Tax ID No: 04-0416035250) and Tax ID No: 04-2000013193
Location: On the Premises
Ideally located between Reisterstown Road and I-795, the property consists of 2 parcels totaling 2.97 +/- Acres of land zoned BM (Business Major). The site is ideal for construction of warehouse, flex space and retail. However, an excellent opportunity may also exist to develop apartments, assisted living or other residential oriented projects.
There is currently a 1720 +/- SF office building/dwelling on the property that is in move in condition. While the current owner is only offering the property as an entirety, it is a possibility for the future owner to keep one of the parcels and sell the other.
Please email firstname.lastname@example.org for a copy of the phase 1 environmental report, geotechnical engineering report as well as numerous other due diligence documents.
- 75' +/- of frontage on Westminster Road
- The property is served by public water and a septic system; however,
public sewer is to the property line. The property also has gas and electric service.
- Zoned Business Major (BM)
- On average over 55,000 vehicles drive past the property on I-795 daily
Ground Rent: Fee Simple
5% Buyers Premium Added To The Hammer Price
Summary of Terms of Sale: A deposit in the form of cash, cashier's check or certified check for $25,000 is due at the time and place of sale. The difference to bring the deposit up to 10% is due 2 business days after the sale in the auctioneer's office. If payment of the additional deposit or the balance of the purchase price is not made within the specified periods, the deposit will be forfeited and the property may be resold at the risk and expense of the defaulting purchaser. Settlement is 60 days from the sale date. The Purchaser will pay interest on the unpaid portion of the purchase price from date of sale to date of settlement at the rate of 10% per annum. All expenses, including real estate taxes, sanitary and/or metropolitan district charges, special assessment and private utility charges are to be adjusted to date of sale and assumed thereafter by the purchaser. Cost of all documentary stamps, settlement costs and transfer taxes to be paid 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. The property will be sold subject to easements, agreements, restrictions or covenants of record affecting the same, if any. Dimensions and acreage are more or less. Time is of the essence as to the terms of this contract.
NOTE: Alex Cooper Auctioneers is acting as agent for the Owner in this transaction. Alex Cooper Auctioneers is not acting as agent for the successful bidder. Any buyer-broker is acting as an agent for the successful bidder and is not a sub-agent of Alex Cooper Auctioneers.
** NOTICE TO BUYER: IF YOU ARE CONTEMPLATING FINANCING FOR THIS PURCHASE, APPLICATION MUST BE MADE WITH A LENDER AND TITLE COMPANY NO LATER THAN SEVEN (7) DAYS FROM THE DATE OF THIS SALE.
The information contained herein was obtained from sources deemed reliable, but is offered for informational purposes only. The Auctioneer, the Sellers, and their respective agents and representatives do not make any representations or warranties with respect to the accuracy of the information contained herein. Prospective purchasers are urged to make their own inspection.