List price to be opening bid. Online auction to be conducted on Auctioneers website. Bidding begins Friday, March 29th & ends Wednesday, April 3, 2024 at 12:30 pm. NOTE: This is an Auction Sale being held on behalf of the owner of the real estate, Bendixhq LLC. The primary occupant The Brewer's Art has been a tenant for 27 years. The business, furniture, fixtures and equipment of the tenants are not part of the sale. Description: The property consists of a rectangular shaped lot with a frontage of approx. 39' on N. Charles St and and Morton St., and a depth of 150'. The total lot area is 5,838 sq. ft. or 0.13 acre. It is improved by a 5-level building containing approx. 23,400 sq. ft. of above grade building area according to the Maryland State Department of Assessment and Taxation. The lower level is accessible from the front and rear of the building and is substantially finished. The main and lower levels are occupied by The Brewer's Art, who has been a tenant for 27 years. They also have offices on the second level of the building. The main level includes an iconic bar area in the front of the building overlooking Charles St. There are two dining rooms and a lounge area in the rear of the bar. The lower level is accessible from a front entrance as well as an interior staircase. It includes a bar and dining rooms. In the rear of this level is a kitchen and a large room devoted to the brewing of beer. There is also interior parking through overhead doors in the rear of the building accessible from Morton St. The second floor is substantially finished into a series of offices occupied by The Brewer's Art and two other tenants. The third and fourth levels are partially finished. Explanation of Income: The property generates $16,926.44/monthly which is $203,117 annualized. The property has been leased by a long established restaurant since 1996. The Brewer's Art who pays 90% of the monthly rent. They are 3 years into a lease extension with two 5 year options remaining. The landlord pays the real estate taxes and insurance. Value Added: The third and fourth levels are unfinished. In 2016 Baltimore City approved the conversion of the third and fourth levels from commercial to 12 dwelling units (9 efficiencies and 3 one-bedroom units). BMZ2016-00388. Please verify with the Baltimore City Zoning Board that this use is still permitted. The City website does not indicate an expiration date. History of 1106 N. Charles St.: The building was designed by the prestigious firm of Wyatt and Nolting and constructed in 1906 as a single family home for W.G. Bowdoin, a senior partner at Alex Brown and Sons. In 1930 a four-story addition was added to the rear of the building. Zoning Code: Description of the C-2 Commercial Zone. "10-204. C-2 Community Commercial District. (a) Areas for which intended. The C-2 Community Commercial Zoning District is intended for areas of small to mediumscale commercial use, typically located along urban corridors, that are designed to accommodate pedestrians and, in some instances, automobiles. (b) Standards. The C-2 District standards are crafted to: (1) ensure compatibility among neighboring residential, commercial, and entertainment uses; (2) maintain the proper scale of commercial use; and (3) maintain a balance between high traffic volume and pedestrian circulation."
