TRANZON.COM TRANZON.COM

Foreclosure Auction – Retail Strip Center in District Heights
Income Producing
100% Occupied!
TRANZON.COM
Auction Date & Time: Thursday, September 13th at 1pm
Auction Location:
1940-2000 County Road
District Heights, MD 20747
Jeff Stein, Partner
David Lowry, Vice President
Tranzon Fox
888-621-2110
410-871-0075
[email protected]
TRANZON.COM
Foreclosure Auction – Retail Strip Center in District Heights, MD
Income Producing 100% Occupied!
Property #: FX7181
Auction Date and Time:
Thursday, September 13th at 1pm
Property Previews Dates & Times:
Thursdays, August 30th & September 6th
From 11:00am-1:00pm
Property and Auction Location:
1940-2000 County Rd
District Heights, MD 20747
Property Description: This is a 9,800
+/- SF strip center currently divided into 6 tenant units. It is a one story masonry building with a
flat roof sitting on 1.02 +/- acres of land zoned Ancillary Commercial (AC). The roof has had
extensive repairs and all 6 HVAC units as well as all of the electric panels have been replaced
within the last 24 months. The property is 100% occupied. The parking lot has also been
redone and there are 64 paved spaces for a ratio of 6.5 per 1000 SF of GBA.
Tax ID#:
2011 Tax Assessment:
2011 Property Taxes:
Zoning:
Approx Parcel Size:
17060468942
$1,099,600
$
16,911
AC, Ancillary Commercial
1.02 Acres
Also available to download separately at www.tranzon.com/FX7181 are the financials (Rent
Roll, 15 Month P & L and Budgeted Repairs). Please, fill out the on-line confidentiality
agreement. You will then be sent an email with a secure identification for you to use to access
the document
Directions: From the Capital Beltway (I-495) take exit 11B MD-4 N/Pennsylvania Ave towards
Washington; Turn right onto Silver Hill Rd/MD-458 E. Silver Hill Rd becomes Walker Mills Rd.
Turn right onto County Rd to property on left.
Summary of Terms of Sale: See Substitute Trustees Sale Notice.
Cooperating Broker’s Fee: Tranzon Fox is offering 2% to properly registered brokers.
Jeff Stein, Partner
David Lowry, Vice President
Tranzon Fox
888-621-2110
410-871-0075
www.tranzon.com/FX7181
Attention Prospective Buyers: ALL INFORMATION CONTAINED IN THIS AND ANY OTHER
MARKETING MATERIALS WAS OBTAINED FROM SOURCES BELIEVED TO BE ACCURATE.
HOWEVER, NO WARRANTY OR GUARANTEE, EITHER EXPRESS OR IMPLIED, IS INTENDED OR
MADE WITH RESPECT TO SUCH INFORMATION. PURCHASERS MUST INDEPENDENTLY
INVESTIGATE, VERIFY AND CONFIRM ANY INFORMATION OR ASSUMPTIONS ON WHICH ANY
BID IS BASED. NEITHER AUCTION COMPANY, NOTEHOLDER, NOR SELLERS SHALL BE LIABLE
FOR ANY ERRORS IN OR THE INCORRECTNESS OF ANY INFORMATION REGARDING THE
PROPERTY BEING SOLD.
THE PROPERTY SHALL BE SOLD PURSUANT TO AND AS DESCRIBED IN THE ATTACHED
NOTICE OF SUBSTITUE TRUSTEES’ SALE. TO THE EXTENT OF ANY INCONSISTENCY BETWEEN
THE INFORMATION CONTAINED IN THIS PACKAGE AND THE ATTACHED NOTICE, THE
ATTACHED NOTICE SHALL CONTROL. TO THE EXTENT OF ANY INCONSISTENCY BETWEEN
ANNOUNCEMENTS MADE AT THE SALE AND ANY OTHER PROPERTY INFORMATION OR
PRINTED TERMS OF SALE, THE SALE ANNOUNCEMENTS SHALL CONTROL.
NEITHER THE SELLERS, THE AUCTION COMPANY, NOR THE NOTEHOLDER HAVE
ACCESS TO THE PROPERTY AND THEREFORE THE AUCTION COMPANY IS NOT ABLE TO MAKE
THE PROPERTY AVAILABLE FOR INSPECTION BEFORE THE SALE.
THE PROPERTY IS SOLD “AS IS, WHERE IS, WITH ALL FAULTS”. THE PROPERTY WILL BE
SOLD WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND, INCLUDING ANY
REPRESENTATIONS REGARDING ENVIRONMENTAL CONDITIONS AFFECTING THE PROPERTY.
ANY DECISION TO PURCHASE OR NOT TO PURCHASE IS THE SOLE AND INDEPENDENT
BUSINESS DECISION OF THE PURCHASER. NO RECOURSE OR CAUSE OF ACTION WILL LIE
AGAINST THE SELLERS, THE AUCTION COMPANY OR THE NOTEHOLDER SHOULD PURCHASER
BECOME DISSATISFIED WITH ITS DECISION, WHATEVER IT MAY BE, AT A LATER DATE.
THE AUCTION COMPANY IS ACTING AS AGENT OF THE SELLERS, BUT RESERVES THE
RIGHT TO BID AS AGENT FOR THE NOTEHOLDER.
THE PROPERTY IS OFFERED FOR SALE TO QUALIFIED PURCHASERS WITHOUT
REGARD TO RACE, COLOR, RELIGION, SEX, MARITAL STATUS OR NATIONAL ORGIN.
Appraisal Excerpts
(No Valuation Data Included)
Law Offices of
Gebhardt & Smith LLP
One South Street
Suite 2200
Baltimore, Maryland 21202
SUBSTITUTE TRUSTEES' SALE OF VALUABLE
COMMERCIAL SHOPPING CENTER GENERALLY
KNOWN AS 1940-2000 COUNTY ROAD,
DISTRICT HEIGHTS, MARYLAND 20747
Under and by virtue of the power of sale contained in that certain Deed of Trust, dated
December 20, 2007, executed and delivered by JAT Development, LLC to the trustees named
therein and recorded among the Land Records of Prince George’s County, Maryland in Liber 30495,
folio 633, as modified (collectively, the “Deed of Trust”), the holder of the indebtedness secured by
said Deed of Trust (the "Noteholder"), having subsequently appointed Michael D. Nord and Michael
C. Bolesta as Substitute Trustees ("Substitute Trustees") in the place and stead of Daniel J. Schrider
and Steven E. Anderson, original trustees under the Deed of Trust, by instrument duly executed,
acknowledged and recorded among the aforesaid Land Records, default having occurred under the
terms of said Deed of Trust and at the request of the party secured thereby, the undersigned
Substitute Trustees will offer the property described below for sale at a public auction to be held at
the property located at 1940-2000 County Road, District Heights, Maryland 20747, on
Thursday, September 13, 2012 at 1:00 p.m.
ALL THAT piece, tract or parcel of land situate, lying and being in Prince George’s County,
Maryland and more particularly described as follows (the "Property"):
Parcel C in the subdivision known as Valleybrook Spaulding District as per plat of
subdivision as recorded in plat book WWW 61 at Folio 63 among the Land Records of Prince
George’s County, Maryland.
Being in the 6th Election District of Prince George’s County.
And Being the same Property conveyed by Deed recorded among the Land Records of Prince
George’s County, Maryland in Liber 16637, Folio 628.
The Property is generally known as 1940-2000 County Road, District Heights, Maryland
20747, and has a tax identification number of 06-0468942.
The Property is centrally located in District Heights, close to Marlboro Pike and Walker Mill
Road and is believed to contain approximately 1.02 +/- acres of C-A, or Ancillary Commercial
zoned land. The Property is believed to be improved with a 1 story, masonry retail strip shopping
center containing approximately 9,800 +/- square feet of gross building area with space for six (6)
commercial tenants.
TERMS OF SALE: A deposit in the amount of Fifty Thousand Dollars ($50,000.00),
payable in cash, certified check or other form acceptable to the Substitute Trustees, will be required
of the purchaser at the time and place of sale. Within seven (7) calendar days after the date of the
sale, the purchaser of the Property shall deliver a certified check to the Substitute Trustees in an
amount necessary to increase the purchaser’s deposit to an amount equal to ten percent (10%) of the
entire amount bid by such purchaser for the Property at the sale. The balance of the purchase price,
together with interest thereon at the rate of ten percent (10%) per annum from the date of sale to the
date of settlement, shall be due from the purchaser to the Substitute Trustees in cash or by certified
check within twenty (20) days following the final ratification of sale by the Circuit Court for Prince
George’s County, Maryland, unless such closing deadline is extended in writing by the Substitute
Trustees. Time is of the essence. Settlement shall be held at the offices of Gebhardt & Smith LLP,
One South Street, Suite 2200, Baltimore, Maryland 21202, or such other place as may be agreed to
by the Substitute Trustees. In the event that the beneficiary under the Deed of Trust, or an affiliate or
subsidiary thereof, is the successful bidder at the sale, such party will not be required to make a
deposit or to pay interest on the unpaid purchase money. The Substitute Trustees reserve the right to
reject any and all bids at the sale, and to extend the time for settlement, at their discretion.
The Property is being sold in an "AS IS" condition and without any warranties or
representations, either express or implied, as to the nature, condition, value, use or description of the
Property or any improvements thereon. The Property will also be sold subject to: (i) all senior liens
and encumbrances that are not extinguished by operation of law by the foreclosure sale of the
Property; (ii) all easements, equitable servitudes, conditions, rights of way, restrictions, rights of
redemption, covenants, restrictive covenants, declarations, documents establishing homeowner’s
association(s) and any other agreements, matters or restrictions of record affecting the Property that
are not extinguished by operation of law by the foreclosure sale of the Property; (iii) all existing
housing, building and zoning code violations, encroachments, and critical area and wetland
violations; (iv) all environmental problems, conditions or hazards which may exist on or with respect
to the Property; and (v) such state of facts that an accurate survey or physical inspection of the
Property might disclose. For environmental information relating to the Property please visit the
following webpage:
http://www.mde.state.md.us/assets/document/County%20Plaza%20Shopping%20Center.pdf.
The Substitute Trustee make no representations express or implied concerning the accuracy of
the environmental information set forth on this webpage.
All real estate taxes, assessments, water charges, county or municipal charges, homeowners'
association charges and senior liens that are owed against the Property and that are not extinguished
by the foreclosure sale of the Property, and the cost of all recordation fees and taxes, document
preparation costs, transfer taxes, title examination costs, attorneys’ fees and other costs associated
with conveying the Property to the purchaser, shall be the sole responsibility of the purchaser and
shall be paid for by the purchaser at settlement. The purchaser at the foreclosure sale shall assume
the risk of loss for the Property immediately after the sale takes place. It shall be the purchaser’s
responsibility to obtain possession of the Property after the closing.
In the event that the purchaser fails to go to settlement as required, in addition to any other
legal or equitable remedies available to the Substitute Trustees, the Substitute Trustees may declare
the aforementioned deposit forfeited and resell the Property at the purchaser's sole risk and expense.
2
In such event, the defaulting purchaser shall be liable for the payment of any deficiency in the
purchase price sustained by the Substitute Trustees and/or the Noteholder, all costs and expenses of
both sales, attorneys' fees, and any other damages sustained by the Substitute Trustees and/or the
Noteholder, including, without limitation, all incidental damages. If the Substitute Trustees are
unable to convey the Property as described above, the purchaser's sole remedy at law or in equity
shall be limited to a refund of the aforementioned deposits, without interest thereon. Upon refund of
the deposit to the purchaser as aforesaid, the sale shall be void and of no effect, and the purchaser
shall have no further claim against the Substitute Trustees, the Noteholder or the Auctioneer
conducting the sale of the Property. The parties' respective rights and obligations regarding the terms
and conduct of the sale shall be governed by the laws of the State of Maryland.
The information contained herein was obtained from sources deemed to be reliable, but is
offered for informational purposes only. The Auctioneer, the Noteholder and the Substitute Trustees
do not make any representations or warranties with respect to the accuracy of this information.
Michael D. Nord and
Michael C. Bolesta,
Substitute Trustees
For additional information or directions to the Property, contact:
David K. Lowry, GPPA, CAI
Executive Vice President
Harborplace Tower
111 S. Calvert Street, 27th Floor
Baltimore, MD 21202
410-871-0075
[email protected]
or
Michael C. Bolesta, Esquire
Gebhardt & Smith LLP
One South Street
Suite 2200
Baltimore, Maryland 21202
410-385-5071
[email protected]
3
BROKER ACKNOWLEDGMENT FORM
Must be received by Tranzon Fox one business day prior to auction
REMIT TO:
PROPERTY # FX7181
DATE OF AUCTION: Thursday, September 13th
Tranzon Fox
3819 Plaza Drive
Fairfax, VA 22030
(888) 621-2110 FAX (703) 539-8633
[email protected]
PROPERTY ADDRESS
1940-2000 County Rd, District Heights, MD 20747
PROSPECTIVE BUYER NAME
_________________________________________
PROSPECTIVE BUYER ADDRESS _________________________________________
PROSPECTIVE BUYER PHONE # _________________________________________
This shall serve as written notice to register the above referenced Prospective Buyer with Tranzon Fox
with respect to the above referenced property to be sold at Public Auction on the above referenced date.
It is understood and agreed that the broker commission will be governed in accordance with the Terms
and Conditions of Sale as set forth in the information package. A commission of 2% of the high bid will
be paid to the registered broker named herein if: a) this Broker Acknowledgment Form is properly
completed and submitted; b) the Prospective Buyer named herein is the highest bidder at the Auction
Sale; and c) the Prospective Buyer named herein as the highest bidder at the Auction Sale executes a
Contract of Sale and closes on the sale of the subject property in accordance with the terms of the
aforesaid Contract of Sale. In the event a commission reduction is required to consummate a sale,
Tranzon Fox reserves the right to proportionately reduce the commission. In order to be effective, all
Broker Acknowledgment Forms must be received by Tranzon Fox on or before 4:00 p.m. one business
day prior to the auction. Agents must accompany their buyer to the auction. No Broker
Acknowledgment Forms will be accepted at the auction site.
ACCEPTED:
__________________________________
Broker/Manager Signature
Date
___________________________________
Agent Signature
Date
__________________________________
Broker/Manager Name Printed
___________________________________
Agent Name Printed
Brokerage License No._______________
Agent License No. _______________
___________________________________
Agent Email
___________________________________
Buyer Signature
Date
___________________________________
Real Estate Brokerage Name
___________________________________
Real Estate Brokerage Address
___________________________________
City State Zip
_________________ _________________
Phone
Fax
RECEIVED BY TRANZON FOX:
By________________________________
Date_______________________________