REAL ESTATE AUCTION Live Onsite & Online Simulcast Bidding Opening Bid: $250,000 GRASONVILLE – MD Eastern Shore – 5 UNIT APARTMENT BUILDING Known As: 5122 MAIN STREET Near US-50 & Evans Avenue Grasonville, Queen Anne’s County, Maryland 21638 Online Bidding Opens THURSDAY, MAY 28, 2026 Live Onsite Auction FRIDAY, MAY 29, 2026 AT 12:00 NOON NOTE: The information contained herein has been obtained from sources deemed reliable and is believed to be accurate. However, no express or implied warranty is made or may be inferred from any such representation. Dimensions, square footage and acreage contained herein are more or less. Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the property. GENERAL INFORMATION: 5122 Main Street comprises a 5 unit apartment building in the Grasonville area of Queen Anne’s County. The property is located a short distance south of exit 44B from US-50, near the US-50/US-301 interchange and approximately 8 miles east of the Bay Bridge, providing a convenient location for tenants commuting throughout the Eastern Shore and Annapolis areas. The building currently has 4 of 5 units rented for a gross rent of $3,000/month ($36,000/year). The auction provides an opportunity to buy a strategically located asset with excellent upside potential. LOCATION: The property is located on Main Street near Evans Avenue in Grasonville, 0.4 mile south of US-50. The Chesapeake Bay Bridge is located 8 miles west. Main Street (MD-18) is the local artery in Grasonville, providing convenient access to community amenities, schools and recreational opportunities. Nearby US-50 and US-301 provide immediate access throughout the broader Eastern Shore community and points west, including Annapolis and Washington, D.C. Grasonville is an historic community with significant maritime and agricultural heritage. The area is surrounded by dozens of streams, creeks, harbors and the world famous Chesapeake Bay. Accordingly, there are waterfront restaurants, marinas, marine businesses and wildlife sanctuaries throughout the area. Immediately surrounding properties are predominantly single family residential, with small farms, businesses and interior parks nearby. According to the Queen Anne’s County Public Schools locator map, nearby schools are Grasonville Elementary, Stevensville Middle and Kent Island High. For more information about the area, please visit: Queen Anne’s County, MD – www.qac.org Eastern Shore – www.visitmaryland.org Queen Anne’s County Public Schools – www.qacps.org SITE: Lot size: 0.64 acre, more or less, according to public tax records Approximately 105' front along Main Street (MD-18) with depths of approximately 260' Gravel parking area for 8+ cars Public water and sewer Plat Satellite/GIS Map ZONING: GNC – Grasonville Neighborhood Commercial District The property is believed to be approved for 5 dwelling units, with 5 separate units showing on the Queen Anne’s County GIS Map. Buyers are encouraged to perform their own due diligence where the property is sold without warranty relating to zoning. For more information about zoning, please visit: Planning & Zoning – www.qac.org Zoning Map IMPROVEMENTS & UNIT DESCRIPTIONS: One and one-half story frame building constructed in phases between 1954 (tax records) and the early 1990s. The building contains 2,655 square feet of gross building area, according to tax records, and is arranged for 5 dwelling units. Metal roof on front addition and asphalt shingle roof in rear. Three electric meters. Separate exterior entries. Mixed interior finishes. Four of five units are currently occupied with a current monthly rent of $3,000, or $36,000 per year. Units have previously been MDE lead registered. Building is arranged as follows: Unit 1 – $900/month rent Living area – LVP flooring Dining area – LVP flooring Kitchen – LVP flooring Bedroom #1 – carpet flooring Bedroom #2 – carpet flooring Full bathroom – LVP flooring Mechanical info: Electric baseboard heat, window AC units, propane range Unit 2 – $650/month rent Living area – hardwood flooring Eat-in-Kitchen – hardwood flooring Bedroom – carpet flooring Full bathroom – subflooring Mechanical info: Propane-fired hot water baseboard heat, window AC units, propane range Unit 3 – $750/month rent Eat-in-Kitchen/Living area – carpet flooring Bedroom #1 – carpet flooring Full bathroom – LVP flooring Bedroom #2 – carpet flooring Mechanical info: Propane-fired hot water baseboard heat, window AC units, propane range Unit 4 – $700/month rent Living area – carpet flooring – ceiling fan Eat-in-Kitchen – carpet flooring Bedroom #1 – carpet flooring Bedroom #2 – carpet flooring Full bathroom – vinyl flooring Mechanical info: Propane-fired hot water baseboard heat, window AC units, propane range Unit 5 (Gutted & Vacant) Living Room/ Eat-in Kitchen – subflooring Bedroom – subflooring Bathroom – subflooring Mechanical info: Propane-fired hot water baseboard heat, propane range TITLE: The property is in fee simple and sold free and clear of liens. TAXES: Current annual real property taxes are a total of $2,589.86 based on a full value tax assessment of $299,167. FINANCIAL INFORMATION & LEASES: Coming soon! SUMMARY TERMS OF SALE: Please see the contract of sale for complete terms. Live Auction Bidders – A deposit of $30,000, payable by cashier’s check, will be required of the purchaser at time and place of sale. Online Auction Bidders – A deposit of $30,000, payable by cashier’s check or wire, will be required of all online bidders prior to the start of the live auction. The deposit will be held in escrow until the completion of the auction and will be retained from the winning bidder. Other bidder deposits will be returned within one business day. Interested parties who do not provide a deposit in advance as stated above will not be permitted to bid. Deposit Escrow Agreement The deposit shall be increased to 10% of the purchase price by 11:00 A.M., Monday, June 1, 2026 at the Auctioneer’s office (wire or cashier’s check). Deposit funds shall be held by A. J. Billig & Co., LLC. Balance to be paid in cash at settlement, which shall take place by 5 P.M. Eastern Time on July 17, 2026. Full terms available on listing broker's website and under documents section as sample contract.