List price to be opening bid at online only auction. Online auction to be conducted on Auctioneers website. Bidding begins Friday, February 14th & ends Wednesday, February 19, 2025 at 11:30 am.
Tenant Occupied Commercial Building Located in the "East Baltimore Midway" Neighborhood of Baltimore City, Zone I1
An investment opportunity awaits with this 1,040 +/- Sq. Ft. building located in the East Baltimore Midway neighborhood. It is located on the corner of E. 20th St. & Aisquith St. The lot has a triangle design with a total of 2,844+/- sq. ft., according to SDAT. There is a high fence to the left of the front of the building, and goes all the way to the back side of the property.
The property is tenant occupied:
Current Gross Monthly Rent: $1,350 (starting Feb. 1st)
Current Gross Annual Rent: $16,200
According to the lease the rent will increase 4% per year; tenant pays all utilities including gas & electric, water, sewer service. Refer to the lease for the full description. In the first picture, the orange container to the right of the building is not part of the property.
Zoning: I-1
Light Industrial Zoning. Light manufacturing, fabricating, processing, wholesale distributing and warehousing uses. The zoning information is from TransForm Baltimore Zoning Code, Map Legend & Zoning District Summary.
LOCATION: The area surrounding the property includes many other similar zoned properties, commercial properties and some residential. There are transportation routes in and out of the area including Rt. 40, Harford Rd., Broadway, Greenmount Ave., E. 25th St. and more.
Diligence Package: A copy of the purchase and sale agreement, leases, lead certificates, rental license and assorted addenda are located in the documents section. In order to gain access, you must create a free account as well as accept a non-disclosure agreement.
Auction Notes: Online Auction Only! Bidding begins Friday, February 14th & ends Wednesday, February 19, 2025 at 11:30 am.
Online Bidding Notes: The initial deposit must be made via credit card, wire transfer or by Cashier's Check. Please review the online bidding terms and deposit transmittal form in the Documents Section for more details. If a lot receives a bid within the last 3 minutes. it will remain open for an additional 3 minutes. If any further bidding occurs, the extension timer will reset to 3 minutes. If no further bidding activity occurs, the lot closes when the timer runs out.