Inspection Dates: Sun., Sept. 25 & Sat., Oct. 1, 2 – 5 PM. Auctioneer will be on Tract 1
Pulaski County, Virginia
358± Acres Offered in 6 Tracts
Extensive Road Frontage • Mountain Views • Development Potential
Minimum Bid: $1,500,000
Assessed Value: $2,232,600
Tract 6 Will Be Sold ABSOLUTE!
This auction offers the opportunity to buy all or part of a desirable 358± acre property conveniently located between Dublin and Pulaski in the Blue Ridge Mountains of Virginia. The farm, which has great development potential, will be offered in six tracts. Tracts 2 – 5 are zoned CM, Commercial (formerly CM-1). A portion of Tract 1 is zoned CM and the remaining portions are zoned R, Residential and HR, High Density Residential (formerly R-3). Tract 1 has access to public water at two points on the west side of Hatcher Road.
The property, with two parcels located at the corners of U.S. Route 11 (Lee Highway) and State Route 807 (Hatcher Road), has more than 1.9 miles of road frontage. The land is gently rolling with approximately 310± acres in pasture and most of the balance in hayfields. The boundary features a pond, a stream and several desirable building sites with expansive views of the surrounding mountains. Improvements include a barn, outbuildings, an old farmhouse, and a frame house that was previously a rental property.
Pulaski Elementary School, Pulaski County High School, Pulaski Country Club and residential developments are within one and a half miles of the property. Lewis Gale Pulaski Hospital is only two miles away. The property is 40 minutes from Blacksburg and Virginia Tech, 30 minutes from Claytor Lake State Park and the New River Trail, and 1 hour from the Roanoke-Blacksburg Regional Airport. The Virginia Horse Center in Lexington is less than 100 miles from the property.
The property is identified as Pulaski County Tax Map Parcels 055-001-0000-018A, 055-001-0000-0029, 055-001-0000-029A, 055-001-0000-0065, 055-001-0000-0066, 055-001-0000-0067. All parcels are currently in land use.
Tract 1: Most of this fenced 261± acre parcel with extensive frontage on Lee Highway (949± ft.) and Hatcher Road (3,623± ft.), has been utilized as pasture for grass-fed beef production or hayfields. The panoramic views are spectacular. Water features include a small stream and a pond. Two connections are available for extending public water to this parcel from the west side of Hatcher Road.
Tract 2: A small stream flows through this 28.2± acre tract that has 1,723± ft. of frontage on Lee Highway.
Tract 3: A 42 ft. x 54 ft. barn with loft is located on a hilltop on this 20.4± acre tract that has 812± ft. of frontage on Lee Highway.
Tract 4: This 12± acre parcel with 497± ft. of frontage on Lee Highway is improved with a cinderblock shop and a frame building.
Tract 5: Located at the corner of Lee Highway and Hatcher Road, this 14.7± acre tract is improved with a farmhouse constructed in 1900. It has been vacant for several years. There are several outbuildings on this tract that has 1,953± ft. of road frontage, 926± ft. on Lee Highway and 1,027± ft on Hatcher Road.
Tract 6: This level 21.0± acre corner parcel is currently a hayfield. It has frontage on two roads, 702± ft. on Lee Highway and 1,283± ft. on Hatcher Road. A small frame house is located near the rear of the property. THIS TRACT WILL BE SOLD ABSOLUTE!
From I-81 North: Take Exit 94 (Pulaski) and turn onto Rt. 99 North toward Pulaski. Go 3.0 mi. and turn right on Edgehill Drive. Go 0.3 mi. and turn right on US Rt. 11. Property (Tract 1) begins 3.2 mi. on the right. Address (House on Tract 4): 4396 Lee Highway, Pulaski, VA 24301.
From I-81 South: Take Exit 98 (Dublin). At end of ramp, turn onto Rt. 100 North toward Dublin/NRV Airport/New River Community College. Go 1.5 mi. and turn left on Rt.11 South toward Pulaski. Property (Tract 6) begins 2.3 mi. on the left. Address (House on Tract 4): 4396 Lee Highway, Pulaski, VA 24301.
To Sale Site: Pulaski Train Station, 20 S. Washington Ave., Pulaski, VA 24301. From I-81: Take Exit 94 (Pulaski) and turn onto Rt. 99 North toward Pulaski. Go 3.2 mi. and then left on Washington Avenue. Train Station is 0.1 mi. on left.
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 by the Seller. 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 October 6, 2016. 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.
Basic Terms & Conditions of Auction
REGISTRATION: Bids will be accepted only from registered bidders. Registration begins at 1:00 PM. Please bring your driver’s license for identification.
TERMS OF SALE: Tracts 1, 2, 3, 4 and 5 are being sold subject to Seller confirmation. Tract 6 is being sold absolute. All property is sold “AS IS, WHERE IS” and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries and due diligence with respect to the property as they deem necessary or appropriate. ALL SALES ARE FINAL.
ANNOUNCEMENTS: Announcements made on the day of sale take precedence over all prior communications, verbal and written, concerning this sale.
BIDDING: Registered bidders may bid on individual tracts of land, any combination of individual tracts and the property in its entirety.
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 will be added to the high bid amount to determine the sale price.
DEPOSIT ON REAL ESTATE: Successful bidders will be required to pay a deposit in the amount of ten percent (10%) of the sale price (high bid plus Buyer’s Premium) on the day of sale. The deposit is payable by cashier’s check or pre-approved personal check made payable to Woltz & Associates, Inc. Escrow Account. 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 November 21, 2016. This is a cash transaction and is not conditioned upon the bidder obtaining financing.
TRANSFER OF TITLE: The Real Estate will be conveyed by general warranty deed free and clear of liens subject, however, to any rights of way, easements, covenants and restrictions of record
AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER.
BIDDER PACKETS: The Auction Company will have a Preliminary Bidder Packet available on the inspection days and upon request.
BOUNDARY LINES: Boundaries shown on aerial photographs and topographical maps, which are provided by the Auction Company as a courtesy to bidders, are approximate.