Take advantage of this rare opportunity!
Tax Assessment: $2,003,800 Entire Boundary
Tax Assessment: $100 Well Lot
We are proud to offer a truly exceptional property located in rapidly growing Botetourt County, Virginia! This is a business, recreational and development chance of a lifetime that you don’t want to miss!!!
Summit Initiatives Corporate Retreat is situated in Botetourt County, Virginia just outside the town of Fincastle The retreat has numerous improvements including a large lodge with a well-equipped commercial kitchen and dining hall to handle large crowds. There are several well-appointed bunk houses, a three bedroom single family home, gym, pavilion, barn, classroom buildings, garage and other structures. The main retreat improvements are served by a recently upgraded central water and septic systems and have central heat and A.C.
The property is mostly wooded with some open areas. A five acre pond lies below the lodge. There is significant merchantable timber. Access throughout the site is via a well maintained interior road system.
Tract 1: 207.467 Acres. (Under Contract) This gently rolling tract supports a beautiful and mature upland hardwood forest. Consider the potential recreational and building site opportunities, in addition to the merchantable timber. This tract fronts on Lees Gap Road, Rt. 666, and the Jefferson National Forest is just across the road.
Tract 2: 160.015 Acres. This is the gem and heart of this once in a life time real estate offering. The Petzoldt Main Lodge overlooks the pristine 5 acre lake, which has a healthy population of mature bass. The lodge enhances the centerpiece of this tract. The tract also includes: Base Camp lodge, Mt. Hood and Mt. Rainer Lodging Buildings, K2/Makalu/Lhotse Cabins, Mt. Washington Classroom, Mt. Rogers Classroom/Warehouse, the Gym, and the Bathhouse.
The Petzoldt Main Lodge is open to serve multiple guests at dining and reception events. The 5,500± SF building, with beautiful stone fireplace, has been renovated by the current owner and has a modern commercial kitchen, and new HVAC systems. This superb structure was originally built in 1960 and is online with the 80 KW stand-by generator which also supports other buildings and water infrastructure.
Base Camp: This 2,800± SF lodge overlooks the lake and was originally constructed in 1965. With a kitchenette and a large stone fireplace, Base Camp offers abundant meeting/classroom space and has its own propane back-up generator.
Mt. Hood and Mt. Rainer (2) Lodges: Built in 2011, these identical 1,308± SF staff lodging buildings each feature an eight bedroom layout surrounding a central living area with two bathrooms. These buildings are in like new condition.
K2/Makalu/Lhotse (3) Cabins: Built in 1962, these quality structures provide comfortable overnight accommodations and consist of open areas served by ductless heat pumps. The K2 and Makalu cabins (wood construction) are 600± SF each. The Lhotse Cabin (brick construction) is 1,000± SF. These cabins are in above average condition after a complete refresh, including newly renovated bathrooms.
Mt. Washington Classroom: Quality constructed in 2012, this 1,378± SF building has eight office/classroom spaces, a reception/waiting area and two private bathrooms. Heat pumps provide HVAC.
Mt. Rogers Classroom/Warehouse: Constructed in 2012, this 1,200± SF building is like new, with one walk in door and one 10’x10′ overhead door.
Classroom/Warehouse: This is a newly constructed (2017 and 2018) 3,840± SF wood frame/metal skin building. With plumbing roughed in for two ADA bathrooms and a water fountain, this building is ready to be finished to your specifications.
Gym: This 957± SF frame building was last used as a gym. The building features rubber flooring and ductless HVAC. Gym equipment shall be removed prior to closing.
Bath House: Constructed in 1962, the 770± SF wood frame bathhouse is a shower, changing and restroom area for the camp, and houses the laundry operations. The building has been recently refreshed.
Many secondary buildings, not identified here, are also on Tract 2.
Tract 3: 50.551 Acres. A mature hardwood forest is the main feature here, offering several potential building sites and multiple recreational opportunities, similar to tract 1. A 1,200± SF four-bay garage is also on this tract.
Tract 4: 57.517 Acres (Under Contract) with frontage on Breckinridge Road, Rt. 600. This mostly wooded tract boasts a 1,428± SF, three bedroom two bath one story residence offering a very private retreat. The home features wood siding, gable roof and a wood deck with concrete patio. Heating and cooling is by heat pump. This home is in very good condition after recent renovation and has its own on-site well and septic systems.
Parking areas and interior roads are a mix of gravel treated and gravel roads and have been very well maintained. The grounds around the buildings have likewise been well cared for. An automated metal gate secures the main entrance on Camp Fincastle Lane between tracts 4 and 3. A new septic and waterworks system (well, pumping equipment, treatment equipment, etc.), at a reported cost of $180,000, has recently been installed on Tract 2. An 80 KW propane generator, also on Tract 2, serves as a back up to keep necessary waterworks, the Petzoldt Lodge and other nearby buildings functioning in time of power outages.
Recently, Botetourt County has made headlines with a flurry of new business announcements and jobs moving into the area, including:
- Ballast Point, the Roanoke Valley’s first Industrial-sized brewery started producing ~240,000 barrels of beer per year in 2017.
- Eldor, an Italian advanced manufacturing facility that produces ignition switches for high-end automobiles is moving into the Greenfields center and bringing approximately 350 new industrial jobs.
- Canatal Steel USA is investing $1.5 million to purchase equipment and add a fourth welding bay to its 160,000-square-foot facility near Cloverdale.
- Apex Clean Energy, Virginia’s first commercial wind facility, s planned to be built atop North Mountain.
- Altec recently announced a $30,000,000 expansion and will be adding approximately 180 new jobs.
- The Virginia Community College System recently announced that they are locating a Shared Services Center in Daleville, adding approximately 190 jobs.
Other related Botetourt County Information:
- Over 1500 new jobs have been created since 2015.
- Over 1000 new jobs have been announced since 2016.
- Over 500 new housing starts were announced between March 2017 and March 2018.
- Botetourt County Public School students earned 1300 workforce credentials in the last year.
- The Botetourt County Sports Complex hosted over 800 games which attracted over 14,000 visitors from over 20 states in 2017.
- The Botetourt Family YMCA broke ground in 2017 on its new 43,000 SF fitness center.
From Interstate 81 in Botetourt Co. Take Exit 150-B and go North on US 220, Roanoke Rd., 8.7 miles to Fincastle. Go left on West Main St. (Rt. T-630) for .2 Mile. Go right on Grove Hill Rd. (Rt. 606) for 1.5 miles. Turn left on Breckinridge Rd. (Rt. 600), go 2.4 miles to Right on Camp Fincastle Lane and Tract 4 begins there. Continue along Camp Fincastle Lane to Tracts 3, 2 and 1. Address: 1156 Camp Fincastle Lane, Fincastle, VA 24090.
Roanoke, VA – 25 Miles
Blacksburg, VA – 39 Miles
Lexington, VA – 45 Miles
Charlottesville, VA – 111 Miles
Richmond, VA – 180 Miles
Washington D.C. – 231 Miles
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 Auction Company. 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 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 June 19, 2018. 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.
Basic Terms & Conditions
- REGISTRATION:Bids will be accepted only from registered bidders. Registration begins June 20, 3:00 PM. Please bring a driver’s license for identification.
- AUCTION SALE:The property is being sold subject to Seller confirmation. All property is sold “AS IS, WHERE IS” with all faults in its condition at the time of sale without recourse by way of refund, reduction of the purchase price, or otherwise. Bidders should perform such independent investigation with respect to the property as they deem necessary or appropriate. ALL SALES ARE FINAL.
- BIDDING:Registered bidders may bid on individual tracts, any grouping of tracts and on the entirety. The auctioneer will determine all bid increments. All decisions by the auctioneer regarding bid acceptance are final.
- FINANCING:Your bidding and purchase of the property is NOT CONDITIONAL UPON FINANCING. Be sure you have arranged financing, if needed, and are capable of paying cash at closing.
- LEAD-BASED PAINT: Some subject residential property was built prior to 1978 and may contain lead-based paint. A lead-based paint inspection may be performed by bidders prior to the auction sale date. Applicable lead-based paint documents and information are available from Auction Company. Bidders will be provided a lead-based paint disclosure prior to signing a Real Estate Purchase Agreement and agree to waive the ten (10) day right to inspection after the auction sale.
- LIABILITY:Bidders inspecting property enter at their own risk. Auction Company assumes no risk for bodily injury or damage to personal property.
- ANNOUNCEMENTS:Announcements on day of sale take precedence over all prior communications, verbal and written, concerning this auction sale.
- BUYER’S PREMIUM:The Buyer’s Premium on the real estate is five percent (5%) of the high bid amount. The Buyer’s Premium will be added to the high bid to determine the final sales price.
- AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER.
- REAL ESTATE DEPOSIT:A deposit in the amount of ten percent (10%) of the contract sales price will be required on day of sale. The deposit is payable by cash, cashier’s check, or pre-approved personal check payable to Woltz & Associates, Inc. Escrow Account. Personal checks will be approved if the Buyer presents a bank letter stating that the Buyer is a customer of the bank and the checking account is in good standing.
- REAL ESTATE DEED:The real estate will be conveyed by general warranty deed free and clear of liens, subject, however, to any rights of way, easements and restrictions of record. The balance of the purchase price is due at settlement on or before August 3, There will be no assigning of tracts between bidders. Tracts will be deeded in the manner purchased at the auction.
- BOUNDARY LINES:Boundaries on aerial photos and topo maps are approximate. Refer to survey for exact boundary locations. All property division lines are subject to final approval from Botetourt County Planning Department.
- GENERAL:The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, error, or omissions is assumed by the Seller or the Auction Company.
Sale held in conjunction with Thom Hubard, Poe & Cronk Real Estate Group