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3307 and 3309 Martini Avenue

DUNDALK, MD 21222
  • $500,000
  • STATUS: Active
  • ON SITE: 67 days
  • ID#: MDBC529948
UPDATED: 37 min ago
$500,000
  • 0
    BEDS
  • 1
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1922
County:

School Ratings & Info

Description

List price to be opening bid. Online Auction Only! Bidding begins Saturday, July 24 & ends Thur., July 29, at 2:00pm. Waterfront Development Opportunity! **Huge Income Potential** Gross Potential Rent $283,000, 55 +/- Boat Slips and 90 +/- Dry Dock Spaces, 2 Residential Homes and Storage/Utility Building Known As the "Starr Marina" in Dundalk With 55 +/- Boat Slips and up to 90 +/- Dry Dock Spaces, 2 Residential Properties and a large storage/utility building Known As "Starr Marina" in Dundalk. 2.10 +/- Acres The number of boat slips can be increased to 60 with an addition of a floating pier for 5 slips. Value Added Investment: The property is currently owned by a partnership that has not focused its resources on maximizing the full revenue potential. The two homes currently rent for a total of $44,400 annually. The 2,646 sq. ft storage/utility building can be leased out with potential rent of $2,000 monthly and $24,000 annually. 30 of the 55 boat slips are currently rented for $51,000. At full rental of 55 slips, the annual rent is estimated at $91,000. 23 dry storage spaces are currently rented for a total of $31,600 or $115/month. Based on this rate, at full occupancy the 90 +/- storage spaces in the boatyard have a potential rent of $124,000. There are other services that can be provided to customers for revenue enhancement. Bidders are encouraged to check market comparables for the boat slips, storage and additional services.The DR 5.5 zoning of the property allows a higher density than 2 residential dwellings. There is potential to take advantage of the higher density and for the homes to enjoy a waterfront view of Merritt Park and the availability of on-site boat slips. The boat slips are as follows:11 Slips along the bulkhead 20' up to 24' depending on slip. Depth about 3' deep on an average tide.8 Slips that face the north 20' by bulkhead then up to 50' at the end. Depth about 3' at bulkhead to 9' at the end on average tide.17 Slips on the inside on center section that face the west (bulkhead) 20' up to 40' . Depth about 5'- 7' on average tide.13 Slips that face the east (park) up to 35' to 45' depending on slip. Depth about 6'- 8' on average tide.6 Slips that point south - includes end T head (down Bullneck Creek) up to 45'. Depth about 7' - 9' on average tide.Parcel 1:3307 Martini Avenue - comprises 1.0 acre, more or less, with approx. 75' of water frontage. This parcel is improved by an updated two story contemporary style home (approximately 2,560 sq. ft., plus basement) featuring waterfront decks for the first and second floors, 4 bedrooms and 2 full bathrooms. Lead Free certificate. Current Rental $1,950/monthly. Parcel 2: 3309 Martini Avenue - comprises 1.10 acre, more or less, with approx. 145' of water frontage. This parcel is improved by an updated ranch style home (approximately 1,270 sq. ft., plus basement) featuring a waterfront deck, 2 bedrooms and a full bathroom. Lead Free certificate. Current Rental $1,750/monthly.Parcel 2 is also improved by a one story maintenance building comprising approx. 2,646 sq. ft. and currently being used as for storage. The property is served by public water and private septic. The perimeter of the property is fenced with a security gate (access code needed) off Martini Ave. The property is also served by an on-site security camera system.Zoning: D.R. 5.5, with a zoning exemption for use as a boat yard and marina. There is residential subdivision potential.

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©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Dart Homes | Re/Max Realty Services. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-07-27T12:56:16.573.
www.darthomes.com/homes/117405291
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3307 and 3309 Martini Avenue DUNDALK, MD 21222

  • Price: $500,000
  • Status: Active
  • Updated: 37 min ago
  • ID#: MDBC529948
0
Beds
0
Baths
0
½ Baths
1
Acres
1922
Built
County:
Baltimore
School District:
Baltimore County Public Schools
Property Description
List price to be opening bid. Online Auction Only! Bidding begins Saturday, July 24 & ends Thur., July 29, at 2:00pm. Waterfront Development Opportunity! **Huge Income Potential** Gross Potential Rent $283,000, 55 +/- Boat Slips and 90 +/- Dry Dock Spaces, 2 Residential Homes and Storage/Utility Building Known As the "Starr Marina" in Dundalk With 55 +/- Boat Slips and up to 90 +/- Dry Dock Spaces, 2 Residential Properties and a large storage/utility building Known As "Starr Marina" in Dundalk. 2.10 +/- Acres The number of boat slips can be increased to 60 with an addition of a floating pier for 5 slips. Value Added Investment: The property is currently owned by a partnership that has not focused its resources on maximizing the full revenue potential. The two homes currently rent for a total of $44,400 annually. The 2,646 sq. ft storage/utility building can be leased out with potential rent of $2,000 monthly and $24,000 annually. 30 of the 55 boat slips are currently rented for $51,000. At full rental of 55 slips, the annual rent is estimated at $91,000. 23 dry storage spaces are currently rented for a total of $31,600 or $115/month. Based on this rate, at full occupancy the 90 +/- storage spaces in the boatyard have a potential rent of $124,000. There are other services that can be provided to customers for revenue enhancement. Bidders are encouraged to check market comparables for the boat slips, storage and additional services.The DR 5.5 zoning of the property allows a higher density than 2 residential dwellings. There is potential to take advantage of the higher density and for the homes to enjoy a waterfront view of Merritt Park and the availability of on-site boat slips. The boat slips are as follows:11 Slips along the bulkhead 20' up to 24' depending on slip. Depth about 3' deep on an average tide.8 Slips that face the north 20' by bulkhead then up to 50' at the end. Depth about 3' at bulkhead to 9' at the end on average tide.17 Slips on the inside on center section that face the west (bulkhead) 20' up to 40' . Depth about 5'- 7' on average tide.13 Slips that face the east (park) up to 35' to 45' depending on slip. Depth about 6'- 8' on average tide.6 Slips that point south - includes end T head (down Bullneck Creek) up to 45'. Depth about 7' - 9' on average tide.Parcel 1:3307 Martini Avenue - comprises 1.0 acre, more or less, with approx. 75' of water frontage. This parcel is improved by an updated two story contemporary style home (approximately 2,560 sq. ft., plus basement) featuring waterfront decks for the first and second floors, 4 bedrooms and 2 full bathrooms. Lead Free certificate. Current Rental $1,950/monthly. Parcel 2: 3309 Martini Avenue - comprises 1.10 acre, more or less, with approx. 145' of water frontage. This parcel is improved by an updated ranch style home (approximately 1,270 sq. ft., plus basement) featuring a waterfront deck, 2 bedrooms and a full bathroom. Lead Free certificate. Current Rental $1,750/monthly.Parcel 2 is also improved by a one story maintenance building comprising approx. 2,646 sq. ft. and currently being used as for storage. The property is served by public water and private septic. The perimeter of the property is fenced with a security gate (access code needed) off Martini Ave. The property is also served by an on-site security camera system.Zoning: D.R. 5.5, with a zoning exemption for use as a boat yard and marina. There is residential subdivision potential.
Exterior Features

Construction Materials Other Garage YN No Parking Types Other Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 0.00 Cooling Other Heating Forced AirOther Heating YN Yes Net Square Feet 91476.00

Property Features

Accessibility Features None Assessment Year 2021 Association YN No Business Type Marina Central Air YN No Cooling Fuel Electric Heating Fuel Other Hot Water Other Navigable Water YN N New Construction YN No Number Of Units Total 42 Original MLSNumber 304616536510 Ownership Interest Fee Simple Possession Settlement Property Sub Type Other Sale Type Auction Sewer Public SewerOther Tax Annual Amount 7924.00 Tax Assessment Amount 631700.00 Vacation Rental YN No Water Source Public Zoning Dr5.5

Listing courtesy of Alex Cooper Auctioneers, Inc..


©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Dart Homes | Re/Max Realty Services. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-07-27T12:56:16.573.
 
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