Description
List price to be opening bid at online only auction. Online registration and bidding begins Saturday, September 16th, and ends Thursday, September 21, 2023 at 1:00PM. Excellent opportunity to purchase a fully leased commercial property with 5 tenants and parking; located in Pikesville, Baltimore County. The owner's recently made capital expenditures for some of the units. Most of the tenants have been long term and have recently updated leases. Property Description: 3 Buildings with 5 units. According to SDAT there is 4,597 +/- square feet of above grade area, and approximately .56+/- acres. Current Gross Scheduled Monthly Base Rent: $6,000. Current Gross Scheduled Annual Base Rent: $72,000** **As of November 2023 Owners have confirmed that tenants are current on their base rent obligations. (08/26/2023). Unit 603- Scheduled Monthly Rent: $1,500. +G- Currently rented to a Performing Arts Studio. Unit 603 1/2 - Scheduled Monthly Rent: $900. +G- Currently rented to a Hair Salon+G- Rent turns month-to-month in November 2023. Unit 605-AB - Scheduled Monthly Rent: $1,400+G- Currently rented to a compound pharmacy. +G- Rent increases to $1,500/monthly for years 2 & 3 of the lease. Unit 605-C - Scheduled Monthly Rent: $1,000 +G- Currently rented to a Gold Shop +G- 2 year leaseUnit 605 1/2 - Scheduled Monthly Rent: $1,200 +G- Currently rented to Yesh Hummus, affiliated with the restaurant located in the small strip center on the other side of the fence.+G- Rent increases to $1,300/monthly for year 2 of the lease. Recent Capital Expenditures (per the seller). Roof replaced on the Gold & Pharmacy building $20,729.00. HVAC for the Dance Studio $5,900.00. Roof replaced on Dance Studio $13,250.00. Zoning: The property is zoned BL-Buiness Light. Expenses: Water Bill $850, Insurance $6,764.00, Property Tax $10,500.00.
Description
List price to be opening bid at online only auction. Online registration and bidding begins Saturday, September 16th, and ends Thursday, September 21, 2023 at 1:00PM. Excellent opportunity to purchase a fully leased commercial property with 5 tenants and parking; located in Pikesville, Baltimore County. The owner's recently made capital expenditures for some of the units. Most of the tenants have been long term and have recently updated leases. Property Description: 3 Buildings with 5 units. According to SDAT there is 4,597 +/- square feet of above grade area, and approximately .56+/- acres. Current Gross Scheduled Monthly Base Rent: $6,000. Current Gross Scheduled Annual Base Rent: $72,000** **As of November 2023 Owners have confirmed that tenants are current on their base rent obligations. (08/26/2023). Unit 603- Scheduled Monthly Rent: $1,500. +G- Currently rented to a Performing Arts Studio. Unit 603 1/2 - Scheduled Monthly Rent: $900. +G- Currently rented to a Hair Salon+G- Rent turns month-to-month in November 2023. Unit 605-AB - Scheduled Monthly Rent: $1,400+G- Currently rented to a compound pharmacy. +G- Rent increases to $1,500/monthly for years 2 & 3 of the lease. Unit 605-C - Scheduled Monthly Rent: $1,000 +G- Currently rented to a Gold Shop +G- 2 year leaseUnit 605 1/2 - Scheduled Monthly Rent: $1,200 +G- Currently rented to Yesh Hummus, affiliated with the restaurant located in the small strip center on the other side of the fence.+G- Rent increases to $1,300/monthly for year 2 of the lease. Recent Capital Expenditures (per the seller). Roof replaced on the Gold & Pharmacy building $20,729.00. HVAC for the Dance Studio $5,900.00. Roof replaced on Dance Studio $13,250.00. Zoning: The property is zoned BL-Buiness Light. Expenses: Water Bill $850, Insurance $6,764.00, Property Tax $10,500.00.
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