4831 Belair Rd Local commercial 601 m² 20 % Loué À vendre Baltimore, MD 21206 306 436 € (509,65 €/m²)

POST AUCTION - BUY IT NOW: $350,000
BELAIR ROAD CORRIDOR
Frankford – Waltherson Area
5 UNIT MIXED-USE PROPERTY
3 Apartments, 2 Storefronts & Fenced Parking Lot
6,472± Sq. Ft. GBA - Zoned C-2 - 0.123± Acre
Known As:
4831 BELAIR ROAD
Near Southern Avenue
Baltimore City, Maryland 21206
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.
GENERAL INFORMATION:
The subject property comprises a semi-detached two story storefront building arranged for 2 storefronts, 3 residential (1 BR) apartments and fenced parking lot. The property currently has 1 storefront rented for $1,500/month. The balance of the units are vacant. The property is strategically located in a well demanded portion of the Belair Road Corridor between the Waltherson and Frankford neighborhoods. The auction provides a value-add opportunity for investors, or a conveniently located business location with good potential income from the additional units for owner-occupants. The rear fenced parking is an added benefit for owners of all types.
LOCATION:
The property is located in the Frankford neighborhood in northeast Baltimore City. The Waltherson neighborhood is on the opposite side of Belair Road, and other surrounding neighborhoods include Parkside, Belair-Edison, Cedmont and Cedonia. Exposure at the site is good, with MDOT AADT traffic counts at 21,482 cars per day. The Baltimore Beltway (I-695) is approximately 3 miles northeast, and Downtown Baltimore is approximately 3 miles southwest. Surrounding businesses include a significant number of automotive sales and service companies in addition to a wide variety of retail businesses and special purpose institutions. Nearby residential communities are comprised predominantly of owner occupied single family detached homes with some semi-detached homes, townhomes and apartments in the surrounding area.
For more information about the area, please visit:
Live Baltimore – livebaltimore.com
CityView Map – cityview.baltimorecity.gov
Community Development Map – cels.baltimorehousing.org
SITE:
Lot size: 40' front by 135' deep, comprising 5,400 sq. ft., or 0.123 acre, more or less
Curb cut on Belair Road. Rear fenced parking area.
Zoned C-2 Commercial, with both commercial and residential uses available.
Block Plat
CELS Map
CityView Map
IMPROVEMENTS & UNIT DESCRIPTIONS:
The property is improved by a two story semi-detached storefront building – constructed in 1908 and containing 6,472 square feet of gross building area, according to public tax records. Exterior finishes include a storefront facade, flat built-up and asphalt architectural shingle roof, vinyl clad replacement windows and commercial storefront windows, separate exterior entrances to each first floor unit and common exterior entrance to upper floor units.
The building is arranged as two storefronts on the first floor and three one-bedroom apartments on the second floor. Finishes include LVP flooring, laminate tile flooring, sheetrock, drywall and some drop ceilings. Mixed heating systems (predominantly radiant).
One commercial unit (4831) and the parking area are rented to a Tag & Title business for $1,500/month.
One commercial unit is occupied, formerly paying $1,100/month, and expected to be vacant at the time of auction.
All three apartments, each arranged as one-bedroom, are vacant and in need of renovation.
ADDITIONAL INFORMATION:
Please complete the Waiver and Confidentiality agreement to view the lease.
TITLE:
The property is in fee simple and sold free and clear of liens.
TAXES:
Current annual real property taxes are $3,030.24 based on a full value tax assessment of $128,400.
SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A 10% deposit, payable by cashier’s check or wire, will be required of the purchaser. Deposit funds shall be held by A. J. Billig & Co., LLC. Balance to be paid in cash at settlement within 45 days. If payment of the deposit or 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 contract to date of settlement. All adjustments, including taxes, rent, all other public charges and assessments payable on a monthly or 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. Security deposit(s), if any, shall be adjusted at the time of settlement. The property will be sold in “AS IS” condition, and subject to the existing lease(s) of the tenant(s) in place, easements, agreements, restrictions or covenants of record affecting same, if any. The Property will be sold subject to Baltimore City violation notices, if any. Purchaser assumes the risk of loss from the date of contract forward. The Purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law. 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.