List price to be opening bid at online only auction. Bidding begins Friday, May 6th and ends Wednesday, May 11, 2022 at 11:00am. DEVELOPMENT OPPORTUNITY: 4.89 +/- Acre Residential Development Site in Owings Mills
Property Description: The property consists of a 4.89 +/- acre residential development site predominantly zoned DR 3.5, which allows 3.5 dwelling units per acre. There is frontage on St. Thomas Lane of 60' which facilitates access and development of the property. The site slopes gently upwards from the road and is mainly clear. Public water and sewer is available. Gas is available to neighboring residents.
Value Added: Nearby homes have sold in the past year in the $450,000 to $750,000 price range. Concept plans are located in the Document section of the web site showing subdivisions containing, 3, 14 and 15 lots. The 60' road frontage allows for denser development. The property's rectangular shape, ample road frontage, topography and being mainly clear of trees allows for easier development.
Neighborhood Location: The property is conveniently located in the Owings Mills area of Baltimore County. Nearby is Reisterstown Rd and a wide variety of commercial stores including Foundry Row that is anchored by Wegmans and includes a number of restaurants and storefronts. Also nearby is Home Depot, Stevenson University and I-795 (Northwest Expressway). East of the subject property is Greenspring Valley and Caves Valley that feature estate homes, the Caves Valley Golf Club, Irvine Nature Center and private schools.
Auction Notes: Online Auction Only! Bidding begins Friday, May 6th and ends Wednesday, May 11, 2022 at 11:00am.
Diligence Package: The purchase and sale agreement along with assorted addenda are available in the documents section of the auctioneer's website, link below. In order to gain access, you must create a free account as well as accept a non disclosure agreement.
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.
