Montgomery County, Virginia

Real Estate Auction
2.023± Acre Commercial Parcel I-81, Exit 118

SOLD

Prime Business Location • Great Visibility • Investment Potential

2.023± acre lot

This 2.023± acre parcel has excellent visibility from I-81, Exit 118 (Blacksburg/Christiansburg/Shawville) and is less than .3 mi. from the exit ramp. Southland Log Homes and Quality Inn operate businesses on the adjoining parcels. Neighboring properties are occupied by Cracker Barrel, New River Valley Harley-Davidson and a USDA Service Center. Virginia Tech is approximately ten minutes from the property.

The level lot, with a curb cut, has 126.48± ft. of frontage on Hampton Boulevard. Public water and sewer are available. The property is zoned B-3, General Business District which permits a wide variety of uses. The parcel, located in the Town of Christiansburg, is identified as Montgomery County Tax Parcel 501-9-5A and has a current tax assessed value of $462,600. In 2007, at the request of a prior owner, the tax assessed value was reduced from $616,800 to the current $462,600 value.

The most recent VDOT traffic count (2008) at the property (I-81 mile marker 118.9) is 22,888 vehicles/day on the northbound lanes on which the property fronts and 20,887/day on the southbound lanes from which the property is visible. The most recent VDOT traffic count (2008) for Rt. 460/Rt. 11 at Hampton Boulevard is 8,700 vehicles per day.


Adjoining Property

Adjoining Property	View of Property from I-81 Ramp

Aerial Photography

Aerial in PDF format showing more of the area.

Boundaries shown on aerial photographs and topographical maps, which are provided by Auction Company as a courtesy to bidders, are approximate. Bidders should refer to the surveys provided in the Bidder Packet for boundary locations.

Directions

View Larger Map

From I-81 Northbound: Take Exit 118A-B-C toward Christiansburg/Blacksburg/Shawsville/US Rt. 11/US Rt. 460. After you are off I-81, take Exit 118C (Christiansburg/Shawsville/US 11E/Business 460). At the end of the ramp, turn right onto Rt. 460 East/Rt. 11 North toward Shawsville/Elliston. Go 0.10 mi. and turn left onto Hampton Blvd. toward Quality Inn and Cracker Barrel. Bear to right at Quality Inn. Property is 0.10 mi. on left. Address: 70 Hampton Boulevard, Christiansburg, VA 24073

From I-81 Southbound: Take Exit 118 C-B-A toward Christiansburg/Blacksburg/Shawsville/US Rt. 11/US Rt. 460. After you are off I-81, take Exit 118C (Christiansburg/Shawsville/US 11E/Business 460). At the end of the ramp, turn left onto Rt. 460 East/Rt. 11 North toward Shawsville/Elliston. Go 0.20 mi. and turn left onto Hampton Blvd. toward Quality Inn and Cracker Barrel. Bear to right at Quality Inn. Property is 0.10 mi. on left. Address: 70 Hampton Boulevard, Christiansburg, VA 24073

Documents

Water & Sewer Overlay
Assessor's Card
B-3 Zoning Ordinance
Survey
Portion of Tax Map
Broker Participation Form

Broker Participation

Any broker actively licensed in the Commonwealth of Virginia whose agent properly registers the successful high bidder will be paid a two percent (2%) commission at settlement. Registration must be on a Woltz & Associates, Inc. Broker Participation Application form and contain the name, address and signature of agent and prospect as well as Broker’s license number and Federal Tax ID number. The form must be received in the office of Woltz & Associates, Inc. by 12:00 noon on May 25, 2010. If prospect attends preview, agent must attend with prospect. Additionally, agent must attend sale and co-register with prospect on auction day. Only the first broker to register the high bidder will be paid a commission. Agents acting as principals, on behalf of licensed real estate agents, on behalf of family members, on behalf of entities in which they hold an ownership interest or who represent prospects who have had prior contact with seller or auction company are not eligible. Only one registered bidder per agent. Broker Participation Form

Basic Terms & Conditions

REGISTRATION: Bids will be accepted only from registered bidders. Registration begins on site at 11:00 AM. Please bring a driver’s license for identification.
TERMS OF SALE: All property is sold “AS IS, WHERE IS.” Bidders should perform such independent investigation with respect to the property as they deem necessary or appropriate. ALL SALES ARE FINAL.
AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER.
ANNOUNCEMENTS: Announcements day of sale take precedence over all prior communications, verbal and written, concerning this sale.
BIDDING: The auctioneer will determine bid increments.
BUYER’S PREMIUM: A Buyer’s Premium will be charged. The Buyer’s Premium on real estate is five percent (5%) of the high bid amount. The Buyer’s Premium is added to the high bid amount to determine the sale price.
DEPOSIT: A deposit in the amount of ten percent (10%) of the sale price (high bid plus Buyer’s Premium) will be required on day sale. The deposit is payable by cashier’s check, wire transfer into Woltz & Associates, Inc. Escrow Account or a pre-approved personal check made payable to Woltz & Associates, Inc. Escrow Account. A personal check will be approved if, prior to or at the time of registration, the Buyer presents a bank letter stating the bidder is a customer of the bank and that the checking account is in good standing.
CLOSING DATE FOR REAL ESTATE: The balance of the purchase price is due at settlement on or before July 26, 2010.
TRANSFER OF TITLE TO REAL ESTATE: The real estate will be conveyed by general warranty deed free and clear of liens subject, however, to any recorded rights of way, easements, conditions and restrictions.
FINANCING: The sale of the real estate is a cash transaction and is not conditioned upon the bidder obtaining financing. Bidders should arrange any necessary financing prior to registering to bid.
BIDDER PACKET: A Bidder Packet with information regarding the real estate will be available from the Auction Company and posted at www.woltz.com.
BROCHURE: The information contained in this brochure is subject to independent verification by prospective bidders. Neither the Auction Company nor the Seller assumes any liability for its accuracy or any errors or omissions. Boundaries contained in this brochure are approximate. Refer to the survey for exact boundary locations.

Contact

For more information, please contact Jonna McGraw (VA# 2434).
Phone Number: (540) 342-3560 or 800-551-3588
Email:jonna@woltz.com