$1,000 Closing Cost Credit
Offer Valid Now Through June 15th, 2023*
* Ashland Auction Group and/or seller shall contribute $1,000 in closing cost credit to the buyer. Closing cost credit will be shown on the HUD-1 Settlement Statement. This offer is subject to Ratified Contracts through the Buy Now/Make an Offer section of the Ashland Auction Group website only.
Estimated Comparable Value: +/- $185,667
Click here to view the report
Disclaimer: This is an automatically generated estimate of the property’s average comparable value. This value is provided by BrightMLS based on historical data from property records. The generated value is only for reference. It is highly recommend that all bidders conduct their own due diligence and research on comparable sales. Please refer to the report for the date of report generation.
550 Oldtown Mall Baltimore, MD 21202
Buy Now or Best Offer
Developer Opportunity | Oldtown | 3 Blocks from Johns Hopkins Hospital
Discover the potential of this commercial building located in the Oldtown area of Baltimore, previously utilized as a storefront and now vacant. Enjoy the convenience of being just 3 blocks away from Johns Hopkins Hospital and the many attractions of the Johns Hopkins Zone. Downtown Baltimore's museums, shopping, restaurants, sporting events, small businesses, and more are just minutes away. This property offers convenient access to major traffic arteries, MD Route 40 (Orleans St.) & 83 (Jones Falls Expy), making it easily accessible from other parts of the city. The property is believed to be a total of 2,058 sqft.
The Old Town Mall area is being re-developed. For more information, click here.
Property is located in an Opportunity Zone and May be Eligible for Certain Programs, for more information, Click Here.
(For a Map of Baltimore City Opportunity Zones, Plat & Sample Contract please Click our Documents Tab)
Occupancy: Property is Vacant.
Year Built: 1920
Lot Size: 13-10X100
Real Estate Taxes (2022-2023): $306.80
Title Information: Sold free and clear of all liens. Subject to annual ground rent of $90.00
Inspection Time: Call Office for Access.
Deposit: The initial deposit amount is listed above. All deposits must be cash or certified funds.
Property Disclaimers: *Property is in need of full renovations
Auction Disclaimers: Purchaser responsible for independently verifying/obtaining all zoning, permits, licenses, usage, etc.
Auction ID: A-000006938
Pre-Auction Offers can be submitted via:
• Form: Contact Us
• Phone: 410-488-3124
• Email: Sales@AshlandAuction.com
Pre-Auction Offers can only be submitted before the start of the online auction.
• 10% Buyer's Premium will be added to the high bid.
• Title: Property will be sold with free and clear title.
• Settlement: 30 days from date of contract ratification.
• Winning Bidder is required to sign and return a contract of sale no later than 4:00PM EST on the day the auction ends.
• Winning Bidder is required to tender deposit within 24 hours via certified funds in the form of cash, cashier’s check, or bank wire.
• If either the deposit or contract is not received the bid will be voided and Ashland Auction Group reserves the right to terminate the bidder’s account.
• Ashland Auction Group will not be responsible for any errors in bidding, website failure, or internet disruption.
• Each bid made on a property in the last two minutes of an auction will add more time to the auction. This will continue indefinitely until the time expires without new bids being placed. A soft close ensures fairness and allows the highest bidder to win.
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; and subject to easements, agreements, restrictions, or covenants of record affecting same. The purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law. Property is sold subject to any Local, State or Federal Government Housing Code Violation Notices or Vacant House Notices issued by Local, State or Federal Government. In addition, the purchaser shall independently verify if a use and occupancy permit exists on the subject property by Local, State or Federal Government. It is the purchaser’s responsibility to obtain any use and occupancy permit, if needed. The purchaser waives and releases the Trustee, 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 Trustee/ 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 Trustee/ Seller or Auctioneers. 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 contract ratification and assumed thereafter by the purchaser. In the event that the property is occupied, the Purchaser is purchasing the property subject to the existing occupants of record. Purchaser is responsible for obtaining possession of the property. Purchaser assumes risk of loss from the date of contract ratification forward. Seller agrees to give rights of possession at time of contract ratification.
Recordation costs, transfer taxes and all other costs incident to settlement, to be paid by the purchaser. However, if the Property is improved residential real property, and if Buyer is a first time Maryland homebuyer as defined in MD Tax Property Code §13-203(b), as from time to time amended, who will occupy the Property as Buyer's personal residence, then Seller shall pay the state transfer tax of 0.25% to the extent required by law. If payment of the additional deposit, if any, 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. Time shall be of the essence.
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. Property dimensions, square footage, number of bedrooms, number of bathrooms, number of levels in property and acreage are more or less and should be independently verified by the bidder. Photos placed on website are for information purposes only and shall be independently verified by buyer.
If the property is Tenant occupied, it is being sold subject to the existing Tenant or Occupant in the property. The Bidder shall independently verify all lease documents. Ashland Auction Group, LLC does not guarantee if the tenant is current on rental payments. Ashland Auction Group, LLC does not guarantee the occupancy status of a tenant, nor is Ashland Auction Group, LLC responsible for a tenant breach of lease agreement or vacating property during the advertised auction period, closing, or post-closing, if any. Property is sold subject to any valid or invalid MDE Lead Certification from the Maryland Department of the Environment. Ashland Auction Group does not warrant the accuracy of any MDE Lead Certifications, if any. It is Buyer’s responsibility to verify with all Local, State and Federal Governments if any other licensing requirements are required.
All properties are being sold subject to any ground rent of record. In the event there is an error in the advertised ground rent or the contract states “Fee Simple”, the Buyer shall take title with the existing ground rent of record and there shall not be a monetary penalty to the seller. Prospective purchasers are encouraged to perform their own due diligence and inspections in advance of the auction.
Ashland Auction Group, LLC is acting as agent for the Seller in this transaction and or Auction. Ashland Auction Group, LLC is not acting as agent for the any bidder or any successful bidder regarding pre-auction offers, offers online, onsite auction or post auction offers.
Any person or real estate agent submitting bids on behalf of a buyer, corporation, or other entity agrees to be personally liable for the payment of the purchase price and any related charges and the performance of all Buyer obligations under the Terms of Sale.
Registered Brokers or Agents who represent bidders for pre-auction, on-site auctions, online auctions, or post-auction listings are acting as an agent for the buyer and not a sub-agent for Ashland Auction Group, LLC.
2.5% Broker Co-Op. Commission will be paid on Bid Price Only before the inclusion of the Buyer’s Premium. Agents must register 48 hours in advance of the start of the auction. Additional terms and conditions are listed at: www.ashlandauction.com/broker
Good Faith Authorization Charge Required: All bidders will be required to post a Good Faith Credit Card Authorization Charge to establish themselves as a bona fide bidder. Failure to return an executed Contract of Sale, required addenda, and the stated deposit, as specified in the advertised listing, is a breach of the auction’s Terms of Sale. Bidders hereby authorize Ashland Auction Group, LLC to charge the credit card used to register for the auction to satisfy part or all of the liquidated damages owed to Ashland Auction Group, LLC.
BY PLACING A BID, BIDDERS ACKNOWLEDGE AND AGREE THAT A FAILURE TO EXECUTE A CONTRACT OF SALE WITH A DEPOSIT MAY RESULT IN SUBSTANTIAL ECONOMIC DAMAGES AND LOSSES OF TYPES AND IN AMOUNTS WHICH ARE IMPOSSIBLE, IMPRACTICAL, OR OTHERWISE EXTREMELY DIFFICULT TO ESTIMATE THEREOF.
ACCORDINGLY, IN LIEU OF ACTUAL DAMAGES OF SUCH DELAY, BIDDERS HEREBY AUTHORIZE ASHLAND AUCTION GROUP, LLC TO CHARGE THEIR CREDIT CARD TO SATISFY PART OR ALL OF THE LIQUIDATED DAMAGES, DUE TO ASHLAND AUCTION GROUP, LLC.
IN ADDITION TO THE LIQUIDATED DAMAGES WHICH IS NOT A PENALTY SET-FORTH ABOVE, BIDDERS ACKNOWLEDGE AND AGREE THAT THEIR NON-PERFORMANCE AND EXECUTION OF A CONTRACT OF SALE MAY RESULT IN ADDITIONAL DAMAGES TO THE SELLER AND ASHLAND AUCTION GROUP, LLC. SELLER AND ASHLAND AUCTION GROUP, LLC RESERVE THE RIGHT TO PURSUE ANY AND ALL LEGAL REMEDIES AVAILABLE AT LAW OR EQUITY, INCLUDING THE RIGHT TO MAINTAIN AN ACTION FOR SPECIFIC PERFORMANCE OR TO HAVE THE PROPERTY SOLD AT THE RISK AND EXPENSE OF THE NON-PERFORMING BIDDER. CONSEQUENTLY, BIDDERS AGREE TO PAY THE SELLER AND ASHLAND AUCTION GROUP, LLC FOR ANY COSTS ACTUALLY INCURRED BY THE NON-PERFORMING BIDDER RELATED TO THE HOLDING, MARKETING, OR RESALE OF THE PROPERTY.
Notice: Bids are legally binding. Bids placed on AshlandAuction.com are bound by AshlandAuction.com’s Terms and Conditions (see AshlandAuction.com’s Terms).