This highly desirable 10,068± SF brick office building is ADA compliant and is the former home of the Virginia Employment Commission. The building is configured for one or two occupants, with water and electricity separately metered. Natural gas is currently on one meter, but can be easily separated for the two rooftop HVAC units. The north side offers 6,524± SF and the south side offers 3,544± SF and are currently joined into one space by the front hallway. There are four sets of men’s and women’s restrooms, two north and two south, a janitor’s closet, and both sides have a front and rear entrance. Given the location of entrances and restrooms, the building can possibly be divided into four spaces.
The north side features a break room with full kitchen, numerous private offices around the perimeter and a large open cubicle area in the center to the front entrance.
The south side features a large front reception area with private offices around the perimeter and center. There is also a break room with kitchenette.
Bids may be mailed, overnighted or hand delivered to the offices of Woltz & Associates, Inc. at 23 Franklin Rd. SW, Roanoke, VA 24011 until 3:00 PM, or hand delivered on site until the 5:00 PM Bid Opening, Wednesday September 26. Overnighting or Hand Delivery is strongly encouraged to avoid delays by traditional mail.
Bids by email will be accepted provided the 10 % Deposit is made by bank wire prior to Bid Opening. Bidder must assume all costs of wiring Deposit funds. Call Auction Company for wiring instructions.
From I 81, take Exit 109 onto Rt. 177 North (Tyler Avenue) toward Radford. Go 3.9 miles and turn left on Downey Street. Go 4 blocks to right on 3rd Avenue to property on left.
Broker Participation is offered at 2% of the High Bid. A completed Broker Participation form must be received by Auction Company at least 48 hours prior to Bid Opening. Call Auction Company for Broker Participation Form.
Basic Terms & Conditions of the Auction
- TERMS OF SALE: This Auction is being conducted subject to the Terms and Conditions of Sale and the Sealed Bid Auction Real Estate Purchase Agreement.
- BIDDER INFORMATION PACKET: A detailed Bidder Information Packet containing the Sealed Bid Auction Real Estate Purchase Agreement, title report, tax parcel numbers, tax assessment, aerial maps, property information and bidding instructions is available from Auction Company via email or mail. Call Auction Company or email firstname.lastname@example.org for the Bidder Information Packet.
- PROPERTY OFFERED SUBJECT TO MINIMUM BID OF ONLY $599,000
- BIDDING: The Subject Property is being offered by Sealed Bid Auction. To bid, a completed and signed Sealed Bid Auction Real Estate Purchase Agreement (contained in the Bidder Information Packet) must be delivered to Woltz & Associates, Inc. on or before 3:00 PM Eastern Daylight Time, Wednesday, September 26 , 2018. Call Auction Company for prior approval to hand deliver bid to Sale Site at Subject Property by 5:00 PM Wednesday, September 26, Bid Opening Time.
- BUYER’S PREMIUM: A ten percent (10%) buyer’s premium must be added to the High Bid to determine the total Purchase Price.
- EARNEST MONEY DEPOSIT: A Deposit of 10% of the High Bid must accompany the bid either by cashier’s check or wire transfer. Deposit checks must be made payable to Woltz & Associates, Inc. Escrow Account. Cashier’s checks will not be deposited during the bid consideration period. All Deposits on offers not accepted will be returned to the respective bidders by October 3, 2018 with time allowed for mail delivery. Deposit for accepted Bid will be deposited to the Escrow Account of Woltz & Associates, Inc. and held per the terms of the Sealed Bid Auction Real Estate Purchase Agreement. Call Auction Company for wiring instructions, if needed.
- BID OPENING: All Bids will be assigned a Bidder Number prior to opening and then opened and announced at the Subject Property, Wednesday, September 26 at 5:00 PM, on site. Only the Bidder Numbers and High Bid Amounts will be announced.
- NOTIFICATION OF ACCEPTED BID: The successful bidder will be notified on or before 5:00 PM Eastern Daylight Time on Friday, September 28, 2018.
- TIE BIDS: In the event of any tie bids, Seller may accept the bid of Seller’s choice, or elect to give the tie bidders the opportunity to make their best and final offer with 5 business days’ notice.
- SETTLEMENT: Seller will prepare and Buyer will accept a General Warranty Deed. Buyer and Seller shall pay their own settlement costs as is customary in the Commonwealth of Virginia. Each party will be responsible for its own attorneys’ fees. Seller is providing a commitment for title insurance prepared by Fidelity National Title Insurance Co. If Buyer elects to purchase title insurance, the title insurance premium shall be at the Buyer’s expense. The subject property shall be conveyed per the Property Description in the commitment for title insurance. The settlement date shall be on or before November 13, 2018.
- ALL SALES ARE FINAL: The Property is auctioned “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.
- 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.
- BOUNDARY LINES: Boundary lines on aerial photos are approximate. Potential buyers may view the property and inspect the boundary lines prior to sale. Buyer assumes all risk associated with entry upon the Property. The Seller will provide existing copies of any surveys in their possession.
- GENERAL: The information contained in this brochure and otherwise provided by Seller and Auction Company is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by Seller or Auction Company.
- AGENCY: Auction Company and its representatives represent the Seller.