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Roanoke, Virginia
FORECLOSURE AUCTION
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2 Tracts With Buildings Located In
Central Business District |
SOLD - May 2007
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This sale includes two tracts with buildings located near the Jefferson Center.
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Tract 1: 308 7th Street, SW. This tract features an extensively renovated 8,162± sq. ft. office and industrial facility on .61± ac. at the corner of 7th St. and Rorer Avenue. The building has a reception area, four offices, two handicapped accessible restrooms and three production areas, two with overhead doors. The facility has concrete floors, drop acoustical tile ceilings, heating and air conditioning throughout with three separate systems including air handler units and dust collectors and upgraded electrical system including 600 AMP three-phase electrical service. The property is zoned I-1, Light Industrial District, and is identified as Roanoke City Tax Map Parcel Numbers 1112401 and 1112404. The tax assessed value is $243,500, $35,900 attributed to the land and $207,600 to the improvements.
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Reception Area |
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Office |
Production Area |
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Production Area |
Production Area |
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Mezzanine Office |
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| Tract 2: 639 Patterson Avenue, SW. This tract, which is contiguous to Tract 1, is a .18± ac. corner lot with an 842± sq. ft. masonry building containing office and warehouse areas. The property is zoned D, Downtown District, and is identified as Roanoke City Tax Parcel 1112412. The tax assessed value is $32,200, $22,100 attributed to the land and $10,100 to the improvements. |
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Directions:
 From I-581 South: Take Exit 5 Downtown (South Rt. 11/South Business Rt. 220) and stay in the left lane as you exit off the ramp onto Williamson Road. Go .20 mi. on Williamson Road and turn right on Campbell Avenue. Go .9 mi. and turn right on 7th Street. Property encompasses the entire right side of the 7th Street block from the corner of Patterson Avenue to the corner of Rorer Avenue. From I-581 North: Take Exit 6 (Elm Avenue/Rt. 24/Vinton). At end of ramp turn left on Elm Avenue toward Downtown. Go .20 mi. and turn right on Jefferson Street. Go .30 mi. and turn left on Campbell Avenue. Go .70 mi. and turn right on 7th Street. Property encompasses the entire right side of the 7th Street block from the corner of Patterson Avenue to the corner of Rorer Avenue. |
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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 a Brokerís license number and Federal Tax ID number. The form must be received in the office of Woltz & Associates, Inc. by 12:00 noon on Tuesday, May 22, 2007. 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. |
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Auction Terms and Conditions:
- REGISTRATION: Bids will be accepted only from registered bidders. Registration begins on site at 12:00 Noon. 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. The Property is being sold ABSOLUTE to the high bidder.
- AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER, LeCLAIR RYAN, a Virginia Professional Corporation, SUBSTITUTE TRUSTEE.
- ANNOUNCEMENTS: Announcements day of sale take precedence over all prior releases, verbal and written, concerning this sale. The Trustee may amend or supplement the terms of sale by verbal or written announcements before bidding commences.
- BIDDING: The auctioneer will determine bid increments. The two tracts will be offered individually and in combination. The secured creditor my bid to protect its interest.
- BUYER'S PREMIUM: A Buyer's Premium will be charged. The Buyer's Premium 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 of sale. The deposit is payable by cash, cashier's check, pre-approved personal check made payable to LeClair Ryan, a Virginia Professional Corporation or wire transfer into the Substitute Trustee's Trust Account on sale day. Personal checks will be approved if the Buyer presents, at time of registration, a letter from its bank stating that the Buyer is a customer of the bank and that the account on which the check is drawn is in good standing.
- CLOSING DATE: The balance of the purchase price is due at settlement on or before June 22, 2007.
- TRANSFER OF TITLE: The real estate will be conveyed by special warranty deed free and clear of liens
subject, however, to any recorded or unrecorded liens, easements, conditions and restrictions to the extent any take priority over the lien of the deed of trust being foreclosed.
- BIDDER PACKET: A Bidder Packet with information regarding the property is available from the Auction Company.
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The tracts will be offered separately and together. |
5% Buyer's Premium added to high bid
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Contact:
Jonna McGraw (VA# 2434) at 540-342-3560 or 800-551-3588. |
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