Go Back ThursdayApril 13, 2017 — 12:00pm
Public Auction Sale
Rarely Available Mixed Use Development Opportunity in the Heart of "Federal Hill"
1100 S. Charles St. Baltimore, MD 21230
Location: On the Premises
Exceptional development opportunity! 0.226 +/- acre parcel (85' x 123') conveniently located in the heart of Federal Hill. The parcel is ideally situated at the signalized intersection of S. Charles St. and W. Cross St also with access to Olive St. on the West side of the site.
Federal Hill is one of the most desirable and "walkable" neighborhoods in Baltimore City. The property is located 2 blocks from a Charm City Circulator stop, 7 Blocks to the Inner Harbor and 6 blocks to M&T Stadium. Within a 5 minute walking radius there are countless apartment buildings, restaurants and night life destinations. Local employers include Johns Hopkins, Bank of America, Legg Mason, Northrop Gruman, Exelon and countless others.
The property is served by both public water, public sewer and natural gas. When the Transform Baltimore Zoning Code goes into effect on June 5, 2017 the property will be zoned C-1 (Neighborhood Business Zoning District). As set forth in Section 16-601(b)(1) of Transform Baltimore, the C-1 Zoning District is exempt from off-street parking requirements.
The property is currently improved by a 4,000 +/- sq. ft. brick building as well as an asphalt paved parking lot. The building has an auto repair garage on the ground level and an apartment unit on the upper level.
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 $75,000 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.