Baltimore Auctions Test Market for Four Distressed Commercial Properties

Alex Cooper Auctioneers launched online bidding on Thursday for four commercial properties in Baltimore's Mount Vernon and Midtown neighborhoods. The sale includes a fully leased apartment complex, two connected commercial buildings, a group of carriage houses, and a vacant structure awaiting renovation.

The largest offering is Apartments on Biddle, a 36-unit rental complex located at 38 to 50 West Biddle Street. The property comprises four-story buildings housing 35 residential units and one commercial space currently occupied by Pillion Tea. The complex also includes 12 off-street parking spaces. Bidding for this asset began on November 5 and will close at noon on November 10. The opening bid is set at $2 million, with a required initial deposit of $20,000. Matthew Cooper serves as the auction agent for this property.

In the same neighborhood, two connected buildings at 705 and 707 North Howard Street are also on the market. These structures contain 9,698 square feet of space zoned for commercial use. Parking for six to seven vehicles is available behind the 705 address. Bidding for these units started on November 5 and ends at 11 a.m. on November 10. The opening bid is $200,000, and bidders must provide a $10,000 deposit. Carley Cooper is handling the auction for these buildings.

The sale also includes four carriage houses at 1012 to 1020 Morton Street, which hold 28,000 square feet of office and retail space. Six years ago, Baltimore’s preservation commission approved plans to build approximately 64 residences over the rear of these structures, but construction never began. The auction for the Morton Street properties begins on November 7 and concludes at 11 a.m. on November 12. The opening bid is $1 million, with a $20,000 deposit required. Paul Cooper is the designated auction agent.

The final property in the group is a 4,750-square-foot building at 858 Tyson Street. The structure is currently unoccupied and requires renovation. Potential uses cited for the space include artist lofts, offices, workshops, or a warehouse. The building sits on the block where filmmaker John Waters shot the final scene of Pink Flamingos. Bidding for this asset starts on November 11 and ends at noon on November 16. The opening bid is $100,000, and the required deposit is $5,000. Matthew Cooper will manage this auction.

Justin Verner of Harbor Stone Advisors is cooperating with Alex Cooper on the sale of the Biddle Street complex. Additional details regarding the four properties are available through the auctioneer's website. All bids are submitted online through the scheduled closing dates.