| |
|

|
Blacksburg, Virginia
REAL ESTATE AUCTION
|
|
18 Investment Properties - 11 Properties sold ABSOLUTE
|
|
SOLD
|
 |
Property 1 - 106 Faculty Street
Located at the corner of Faculty Street and Progress Street,
this well-maintained, two-story brick office building was
most recently occupied by Virginia Tech’s Internal Audit
and External Audit Offices. The 7,000± sq. ft. building
has two wings with separate heat pumps. One wing has 11 offices;
the other has 9 offices. A portion of the basement is finished
and has also been used for office space. The property has
a parking area and there is parking on the street. Property
is zoned DC, Downtown Commercial District. Montgomery County
Tax Map Parcel No. 256-10 Sec A 1,2.
Bidder Packets - General - Property
1 |
|
 |
Property 2 - 1412 North Main Street (House)
This property offers a two bedroom home situated on .6876±
acres. The current monthly rent is $700 with a termination
date of July 31, 2004. The property could continued to be
utilized as a single family residence or for one of the many
other uses permitted under its current GC, General Commercial
District zoning. The property is identified as Montgomery
County Tax Map Parcel No. 197-9-8.
Bidder Packets - General - Property
2 |
|
 |
Property 3 - 1412 North Main Street
(Lot)
Adjoining the house in Property 2 is this level .5739±
ac. which is zoned GC, General Commercial District. The
lot is identified as Montgomery County Tax Map Parcel No.
197-9-9.
Bidder Packets - General -
Property 3
|
|
 |
Property 4 - 1416 North Main Street
This property features a charming three bedroom, one and one-half
bath home on .617± acres located across from Patrick
Henry Center. The property is currently utilized as rental
property with monthly rent of $740. The current lease terminates
July 31, 2004. The property is zoned GC, General Commercial
District and is identified as Montgomery County Tax Map Parcel
No. 196-A-32.
Bidder Packets - General - Property
4 |
|
 |
Property 5 - 1480 & 1490 South
Main Street
ABSOLUTE: This
4.2020± ac. tract, located on busy South Main Street,
is improved with two buildings. The first (1480 South Main)
is a 7,434± sq. ft. two-story office building, with
3,937± sq. ft on the main level and 3,497± sq.
ft on the upper level. There are nineteen offices, a conference
room, five half baths, a kitchenette, computer room and storage
space. There is approximately 21,825 sq. ft of paved parking.
The second building (1490 South Main) is a 1,664± sq.
ft. building with an unfinished 1,004± sq. ft. basement.
This building and approximately .345± ac. of the property
is leased to Enterprise Car Rental through September 30, 2004
for $2,000 per month. There is approximately 5,850 sq. ft.
of paved parking with this building. Approximately 3.01±
acres of this parcel is unimproved, relatively level, mostly
open land behind the two buildings. The current tax assessed
value is $957,400. The property is zoned GC, General Commercial
District, and is identified as Montgomery County Tax Map Parcel
No. 287-A-36.
Bidder Packets - General - Property
5 |
 |
|
 |
Property 6 - 1500 South Main Street
ABSOLUTE: This
property, which adjoins Property 5, is located across from
Blacksburg Square mall on heavily-traveled South Main Street.
The 1.004± ac. tract is improved by a 1,559±
sq. ft. building that is currently leased on a month-to-month
basis to Streamline Pressure Washing & Auto Detailing
for $400 per month. There are two service bays with lifts
and overhead doors, an office, a sales area and two restrooms.
There is a crossover of South Main Street’s median at
this site. The property is zoned GC, General Commercial District
and identified as Montgomery County Tax Map Parcel No. 287-A-35.
The assessed value is $334,000.
Bidder Packets - General - Property
6 |
|
 |
Property 7 - 1510 South Main Street
ABSOLUTE: Located
adjacent to Property 6, this .39± ac. tract is improved
with a 2,757± sq. ft. building with canopy. The building
was most recently utilized as a Quick Lube facility. The original
portion of the building with three rooms and two restrooms
is 1,013± sq. ft. and the addition, built in 1998,
is 1,744± sq. ft. with two overhead metal doors which
permit driving through the building. This parcel is zoned
GC, General Commercial District, identified as Montgomery
County Tax Map Parcel No. 287-A-34 and has an assessed value
of $246,400.
Bidder Packets - General - Property
7 |
|
 |
Property 8 - 1600 South Main Street (Apartments)
ABSOLUTE: Located
on this 4.430± ac. tract are two buildings which overlook
a scenic lake. One building, which is adjacent to Lake Terrace
Motel (Property 9), faces South Main Street and contains nineteen
efficiency apartments which are leased on a weekly and monthly
basis. This building is 6,825± sq. ft. and has an open,
covered front porch. The second building, which is 4,545±
sq. ft. has ten efficiency apartments on the first floor and
two apartments in the basement. The year-to-date gross rental
income through October 31 for the two buildings was $29,065.
The property is zoned GC, General Commercial District. Montgomery
County Tax Map Parcel No. 287-A-33.
Bidder Packets - General -
Property 8 |
|
 |
Property 9 - 1600 South Main Street (Motel)
ABSOLUTE: Lake
Terrace Motel is located on this .37± ac. parcel. The
two-story 16 unit motel is 8,034± sq. ft., with ten
motel rooms, a lobby and efficiency unit apartment for the
manager on the first floor level and six motel rooms, a 1,630±
sq. ft. office suite and two other rooms for office use on
the second floor level. The year-to-date gross rental income
through October 31 was $94,421. Furnishings are included in
sale of real estate. This property is zoned GC, General Commercial
District. Montgomery County Tax Map Parcel No. 287-A-32.
Bidder Packets - General - Property
9 |
|
 |
Property 10 - 4.7250± Acres
ABSOLUTE: This
4.7250 ± ac. parcel is a cleared and moderately rolling
tract with approximately 200 feet of frontage on King Street
It adjoins Properties 8, 9, 11, 12, 14 and 18. The parcel
is zoned O, Office District and has an assessed value of $308,700.
Montgomery County Tax Map Parcel No. 287-A-28.
Bidder Packets - General - Property
10 |
|
 |
Property 11 - 1.174± Acres
ABSOLUTE: Property
11, which is 1.174± cleared acres, lies between Property
10 and the rear of residences on the eastern side of Kennedy
Avenue. It also adjoins Property 13. This tract is zoned O,
Office District and identified as Montgomery County Tax Map
Parcel No. 287-A-28A. The tax assessed value is $102,300.
Bidder Packets - General - Property
11 |
|
|
Property 12 - 2.6280± Acres
ABSOLUTE: Adjoining
Property 5, 8, 10, 11 and 13, is this 2.6280± ac. relatively
level lot which is mostly cleared with some wooded areas.
The property has an assessed value of $171,700 and is zoned
O, Office District. Montgomery County Tax Map Parcel No. 287-A-27.
Bidder Packets - General - Property
12 |
|
 |
Property 13 - 3.126± Acres
ABSOLUTE: This
property is contiguous to Properties 11, 12, 15 and 16 and
is zoned O, Office District. The 3.126± ac. is mostly
wooded and has an assessed value of $340,400. Montgomery County
Tax Map Parcel No. 287-A-27A.
Bidder Packets - General - Property
13 |
|
 |
Property 14 - 1602 South
Main Street
ABSOLUTE: This
2.8530± acre tract is adjacent to the Lake Terrace
Motel and has 383 ft. of frontage on busy South Main Street.
It is improved with a 4,400± sq. ft. building that
was most recently occupied by Sunrise House Restaurant. College
Motors operates its business on the southern portion of the
parcel. The lease is month-to-month with a current monthly
rent of $1,500. This property has an assessed value of $584,200,
is zoned GC, General Commercial District, and is identified
as Montgomery County Tax Map Parcel No. 287-A-31.
Bidder Packets - General - Property
14 |
 |
|
 |
Property 15 - 80l Airport Road
Located at 801 Airport Road, this property contains 2.89±
acres and is improved with a 1,430± sq. ft. three bedroom,
two bathroom home. The house, which also has an attached,
front porch and full unfinished basement, is leased for $750
per month through July 31, 2004. The property is adjacent
to Property 13 and 16 and Margaret Beeks Elementary School.
It is a short walk to Gables Shopping Center. Zoning is R-4,
Low Density Residential District. Montgomery County Tax Map
Parcel No. 287-A-15.
Bidder Packets - General -
Property 15 |
|
 |
Property 16 - 803 Airport Road
This 3.1265± ac. parcel is located next to Property
15 and Property 13. It is improved with a one level home with
basement. The main level (1,440± sq. ft.) contains
a living/dining area with fireplace and woodstove unit, kitchen,
two bedrooms and two full baths. The basement level (1,312±
sq. ft.) has a recreation room with fireplace, one bedroom,
one full bath and a storage/workshop area. This property is
currently leased on a month-to-month basis for $750. The property
is zoned R-4, Low Density Residential District and identified
as Montgomery County Tax Map Parcel No. 287-A-16.
Bidder Packets - General - Property
16 |
|
 |
Property 17 - 1619 Kennedy Avenue
Property 17 offers a .3926± ac. tract with 1,342±
sq. ft. three bedroom, two bathroom home with hardwood floors.
There is a partially finished basement. The property is currently
leased for $835 per month through July 31, 2004. This tract
is zoned R-4, Low Density Residential District and identified
as Montgomery County Tax Map Parcel No. 317-10-23.
Bidder Packets - General -
Property 17 |
|
 |
Property 18 - .1767± Acres
ABSOLUTE: This
.1767± acre tract is located at the end of King Street
and has frontage on Hubbard Street. It is bordered by tracts
10, 11 and 17. The parcel is zoned O, Office District, has
an assessed value of $2,500 and is identified as Montgomery
County Tax Map Parcel No. 317-A-7.
Bidder Packets - General - Property
18 |
|
Aerial Photos: |
 |
 |
Directions:
Auction & Preview Location: Donaldson Brown Center Located
on the Campus of Virginia Tech, Blacksburg, VA
Property 1: From Downtown Blacksburg, at North
Main Street and College Avenue, travel north on North Main Street
for .10 mi., turn right on Faculty Street and go one block. Building
is at the corner of Faculty Street and Progress Street.
Properties 2 - 4: From Downtown Blacksburg,
at North Main Street and College Avenue, travel north on North
Main Street for 1.3 mi. to properties on right (across from Patrick
Henry Center).
Properties 5 - 14: From Downtown Blacksburg,
at North Main Street and College Avenue,
travel south on Main Street for 1.3 mi. to Properties 5, 6, 7,
8, 9, 14. Properties 10 -13 and 18 can be most easily accessed
by the drive between the buildings on Property 5. From
I-81, take Exit 118B (Christiansburg/Blacksburg) and
follow 460 West toward Blacksburg. Take Exit 5B (460 West/South
Main Street). Go approximately 1.4 mi. to Properties 5, 6, 7,
8, 9 and 14.
Properties 15 - 18: From Downtown Blacksburg,
at North Main Street and College Avenue,
travel south on Main Street for 1.1 mi. and turn right on Country
Club Drive (Gables Shopping Center). Turn left on Airport Road.
Properties 15 and 16 are on the left. Property 17: Continue on
Airport Road, turn left on Hubbard Street. Property is on the
left at the corner of Hubbard Street and Kennedy Avenue. From
I-81, follow directions above for Properties 5 -14, continue
.2 mi. past Property 5 and turn left on Country Club Drive at
Gables Shopping Center. Turn left on Airport Road. Properties
15 and 16 are on the left. Property 17: Continue on Airport Road,
turn left on Hubbard Street. Property is on the left at the corner
of Hubbard Street and Kennedy Avenue.
 |
Parking:
Parking for the auction will be at the Duck Pond Parking Lot, located
at the south end of Washington Street. Two shuttle buses will provide
transportation from the parking area to the Donaldson-Brown Center.
You can get a parking pass from the driver of the shuttle bus.
 |
Basic
Terms & Conditions: Auction & Preview Location:
Donaldson Brown Center Located on the Campus of Virginia Tech, Blacksburg,
VA
- Bids accepted only from registered bidders. Come early for
registration at 11:00.
- All information provided by the Auction Company is deemed
reliable, but is not warranted. Bidders should perform such
independent investigation with respect to the property as they
deem necessary or appropriate.
- All property is sold “AS IS, WHERE IS.” Please
inspect before bidding. ALL SALES FINAL.
- Announcements day of sale take precedence over all prior releases,
verbal and written, concerning this sale.
- Auction Company and its representatives represent the Sellers,
- Properties 5, 6, 7, 8, 9, 10, 11, 12, 13, 14 and 18 are being
sold at ABSOLUTE AUCTION to the highest bidder. Properties 1,
2, 3, 4, 15, 16 and 17 are being sold subject to Seller confirmation.
All sales are final.
- Detailed terms and conditions provided sale day.
- A five percent (5%) buyer’s premium will be charged
on real estate. The buyer’s premium is added to the high
bid on real estate to determine the contract sale price.
- A ten percent (10%) deposit (based upon the high bid plus
the buyer’s premium) shall be due on day of sale immediately
following the sale. The ten percent (10%) deposit is payable
by cashier’s check, cash, wire transfer into Auction Company’s
escrow account or a pre-approved personal check. In order to
have a check pre-approved, the bidder must present at registration
a letter from its bank stating that the bidder has an account
in good standing. The balance of the purchase price of the real
estate is due at settlement on or before January 12, 2004, payable
by cash or cashier’s check.
- Real estate to be conveyed by general warranty deed free and
clear of liens, subject however, to any rights of way, easements
and restrictions of record.
- Lead-Based Paint: Houses in Properties 2, 3 15, 16 and 17
were built prior to 1978 and may contain lead-based paint. Inspection
may be performed by bidders prior to sale date. Applicable lead
paint documents and information are available form Auction Company.
Bidders will be provided a lead paint disclosure in the Real
Estate Bidder Packet and agree to waive the ten (10) day right
to inspection after the sale. Property is being sold “as
is, where is.”
- All properties are sold subject to existing leases.
|
|
Contact:
Jim Woltz VA# 825 or Jonna McGraw VA# 2434 540-342-3560 or 800-551-3588. |
|
|
|
|