5225 Fairlawn Ave. Baltimore, MD 21215 - Ashland Auction Group

5225 Fairlawn Ave. Baltimore, MD 21215

Industrial Warehouses | +/- .55 Acre Lot | Pimlico

Property Type

Industrial

Zoning

I-2

Buy-It-Now

$450,000

Initial Deposit

$20,000

Industrial Warehouses | +/- .55 Acre Lot 

ATTENTION INVESTORS~ HUGE INDUSTRIAL OPPORTUNITY!

Investment Highlights:
-Comprised of 5 lots
-Lots 41, 42, 43, 44, 45 (click our documents tab to view highlighted plat)
- 10,000 square foot, multi-tenant industrial building
- 12,000 square foot fenced open lot
- Building can be subdivided to accommodate more tenants and increase cash flow
- Large inter city site for future development
- Zoning is one of the highest industrial uses
- Potential Strong Cash Flow

 

The 10,000 square foot building was constructed in 1960 of cinder block, steel and siding. The building consists of 3 contiguous buildings that can be rented separately or as one unit. The Property sits on a 22,000 square foot lot.

The Property, situated in the Woodmere neighborhood (Within the Pimlico Area), is in the middle of a primarily commercial district with access to main arteries, public transportation and a large potential customer base for potential tenants. Development projects have been springing up in close proximity to the Property making this a unique opportunity to acquire assets like 5225 Fairlawn for mid-size future development opportunities and significant cash flow potential in the short term.


(Click Our Documents Tab to View Additional Resources & A Sample Contract)

 

Occupancy: Property is Vacant
Year Built: 1960
Lot Size: .55 ACRES
Real Estate Taxes (2020-2021): $5,693.10
Title: Fee Simple. Sold free and clear of all liens.
Inspection Time: Call Office for Details.
Deposit: Special Initial Deposit Wording

Initial Deposit:20,000
Lot Size:.55 acres
Property Type:Industrial
Zoning:I-2
Buy-It-Now:450,000

· 10% Buyer's Premium will be added to the high bid.

· Settlement: 45 days from auction sale date.

· Pre-Bid offers accepted via Phone (410-488-3124), Fax (410-488-3125) or Email (Sales@AshlandAuction.com) Pre-Bid offers can only be submitted before the start of the online auction.

· Winning Bidder is required to tender deposit within 24 hours. Deposit to Be Increased to 10% of Total Purchase Price within 72 hours. Winning Bidder is required to sign and return a contract of sale within 24 hours.

· If either the deposit or contract is not received the bid will be voided and Ashland Auction Group reserves the right to terminate bidders 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 few 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 settlement 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 agrees to give rights of possession at time of settlement.

 

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 rented the bidder shall independently verify all lease documents. Ashland Auction Group, LLC does not guarantee if the tenants are current on rental payments. 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. Agents must register 48 hours in advance of the start of the auction. Additional terms and conditions are listed at: https://www.ashlandauction.com/cms/brokers

 

Notice: Bids are legally binding. Bids placed on AshlandAuction.com are bound by AshlandAuction.com’s Terms and Conditions (see AshlandAuction.com’s Terms).