Real Estate Portfolio Auction (AM Session)

 

Click Link for More Information On Each Property

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 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 November 15, 2022. 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.

Terms & Conditions Of Auction

1. REGISTRATION: Bids will be accepted only from registered bidders. Registration begins at 9:00 AM for the AM SESSION and 3:00 PM for the PM SESSION. Please bring a driver’s license for identification.
2. AUCTION SALE: The property will be sold subject to seller confirmation of the high bid. ALL CONFIRMED SALES ARE FINAL: All 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.
3. 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.
4. LIABILITY: Bidders inspecting property enter at their own risk. Auction Company and Seller assume no risk for bodily injury or damage to personal property.
5. BIDDING: Qualified bidders may bid on individual tracts or any grouping of tracts. The auctioneer will determine all bid increments. All decisions by the auctioneer regarding bid acceptance are final.
6. ANNOUNCEMENTS: Announcements on day of sale take precedence over all prior releases, verbal and written, concerning this auction sale.
7. BUYER’S PREMIUM: The Buyer’s Premium on the real estate is 5% of the high bid amount. The Buyer’s Premium will be added to the high bid to determine the final sale price.
8. AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER.
9. LEAD PAINT: The majority of the properties in this auction were built prior to 1978 and may contain lead-based paint. A lead-paint inspection may be performed by bidders prior to the auction sale date. Applicable lead paint documents and information are available from Auction Company. Bidders will be provided a lead-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.
10. REAL ESTATE DEPOSIT: A deposit in the amount of ten percent (10%) of the contract sale 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.
11. REAL ESTATE DEED: The real estate will be conveyed by Special 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 January 31, 2023. There will be no assigning of tracts or deeds between bidders. Tracts will be deeded in the manner purchased at the auction.
12. BOUNDARY LINES: Boundaries on aerial photos and topo maps are approximate.
13. 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.
14. LEASES: Copies of all the leases we have are on our web site and all properties are being sold subject to their existing lease. Rents posted in brochure and on website are from management company and are believed to be accurate.

Online Auction: 2 Prime Development Properties

 

 

Bidding Opens: Nov. 3, 2 PM
Bidding Closes: Nov. 10, 2 PM

 

Auction Tract 1

City of Bristol Virginia, Exit 5
Location!, Location!, Location!

Tax Id# 264-A-1
18.8± Acres
Zoned M1 (Adjoins B3 Zoning)

Located on Walling Road between Harley Davidson and Virginia Beverage Company. Excellent location just across I-81 from “The Falls”. This is a blank canvas for a developer, investor or end user.

I-81 Traffic 26,000
Water & Sewer Available

Not far from the Hard Rock Hotel and Casino.

Directions: I-81 Exit 5, Take 19 south west to light and turn left on Old Abingdon Hwy and immediately left on Walling Road, by Harley Davidson Store. Property on right just past Harley Davidson.

Auction Tract 2 – SOLD

Abingdon Virginia Exit 17

Washington County Tax Parcel ID# 105-8-1
35.4± Acres
Zoned Abingdon A & A2

Currently in Land Use

PRIME DEVELOPMENT PROPERTY
Water & Sewer Available

Not far from South Holston Lake, Historic Downtown Abingdon, the Hard Rock Hotel and Casino. Close to shopping.

Directions: From I -81 Exit 17 Go south Cummings Street and turn right on Gravel Lake Road. Property fronts on Cummings Street and along Gravel Lake past the new Round About!

7% Buyer’s Premium | Boundaries are Approximate

Terms & Conditions of Auction for Online Bidding

Auction Tract 1 City of Bristol Tax ID# 264-A-1  18.8± Acres
Henry C. Pratt Irrevocable Trust and The Mack B. Trammell Foundation, Inc.
Bristol VA, Abingdon VA

Auction Tract 2 Washington County Tax ID# 105-8-1  35.4± Acres
Henry C. Pratt Irrevocable Trust
Washington County, VA

 Bidding Starts: November 3, 2022 at 2:00 PM ET
Bidding Ends: November 10, 2022, 2:00 PM ET

  1. AUCTION SALE:  The Property will be sold subject to Seller’s confirmation of the high bid.  Purchaser will execute the Auction Real Estate Purchase Agreement as required in Paragraph 2.  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. Bidding signifies you have read and are in agreement with the terms and conditions of the auction. 
  2. REAL ESTATE DEPOSIT: The Buyer is required to pay a deposit in the amount of ten percent (10%) of the contract sales price and sign an Auction Real Estate Purchase Agreement immediately following SELLERS acceptance of the bid via Doc U Sign.   Buyer may wire funds ($25.00 wire fee) or overnight a cashier’s check for the earnest money deposit at Buyer’s expense.
  3. FINANCING:  Your bidding and purchase of the property are NOT CONDITIONAL UPON FINANCING.  Be sure you have arranged financing, if needed, and are capable of paying cash at settlement.
  4. LIABILITY:  Bidders inspecting property enter at their own risk.  Auction Company assumes no risk for bodily injury or damage to personal property.
  5. BUYER’S PREMIUM:  The Buyer’s Premium on the real estate is seven percent (7%) of the high bid amount.  The Buyer’s Premium will be added to the high bid to determine the final contract sales price.
  6. AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER.
  7. REAL ESTATE DEED AND POSSESSION:  The real estate will be conveyed by a Special Warranty deed to be prepared at the expense of the Seller and the cost of Virginia Grantor’s tax shall be borne by the Seller.  It is agreed the Property is being conveyed 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 which shall be on or before December 28, 2022.  The contract to purchase is not assignable.  Possession of the Property shall be given to the buyer at settlement.
  8. BOUNDARY LINES:  Boundaries on aerial photos, topographic maps, and otherwise, are approximate and are subject to verification by all parties relying on them.
  9. BIDDING AND SOFT CLOSE: The bidding is hereby offered by Online Auction only and bidding will only be available to registered bidders. The Soft close will allow extended bidding until no bids are placed for five minutes. If a bid is placed within the last five minutes an additional five minutes will be added to ensure everyone gets time to place their bid.
  10. GENERAL: The information contained in the brochure, on woltz.com, all advertising, and the Bidder’s Information Packet is subject to verification by all parties relying on them.  No liability for its accuracy, error, or omissions is assumed by the Seller or the Auction Company.
  11. BROKER PARTICIPATION: Any appropriately licensed Virginia broker whose agent properly registers the successful high bidder will be paid a 2% commission based upon the high bid, and will be paid at settlement by the Seller. Applications 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 the Broker’s license number and Federal Tax ID number. The form must be received in the office of Woltz & Associates, Inc. or by email at hannah@woltz.com prior to the registered bidder making a bid. Participating Broker must sign the Real Estate Purchase Agreement for winning bid. Agents acting as principals buying on their own behalf, on behalf of family members, other licensed real estate agents, or who represent prospects that have had prior contact with the Seller or Auction Company are not eligible. An agent may register only one Bidder for this auction.
  12. SOFTWARE & TECHNOLOGY: Woltz & Associates, Inc. reserves the right to reject any bid at our sole discretion. In the event there are technical difficulties related to the server, software, or any other online auction-related technologies, Woltz & Associates, Inc., reserves the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR WOLTZ & ASSOCIATES, INC. SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Email notifications will be sent to registered bidders with updated information deemed necessary by Auction Company.

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Rifle Colorado Land Offering: 1,115± Acres

Rifle Airpark

Located in the Rifle and Garfield County this premier property contains 1,115 acres surrounding the Rifle Airport. 

This prime parcel is ripe for development and looking for a visionary to complete a great start.

SOLD – Real Estate Auction: Prime Development Opportunity

1,254± Acres of undeveloped land located in the city of North Augusta, South Carolina just off the Palmetto Parkway (I-520) near Belvedere and less than five miles to downtown. The property is also only 8 miles to Augusta, Georgia, which is the second fastest growing city in Georgia. The land tract was previously marketed as a development that would include up to 1,500 homes, two schools, several commercial centers and 200 acres of greenspace.

The property consists of four tax parcels and is currently zoned as a Planned Development. The property has road frontage on multiple state roads and I-520 runs along most of the 1,254-acre parcel western boundary. The largest privately held land tract in the Town of North Augusta, South Carolina. The 21-acre and 93-acre tracts also front along I-520 on its eastern boundary. The Planned Development Zoning is a perfect zoning for this property as it allows Residential, Retail, Commercial and Industrial with a plan. This is the perfect blank canvas for a developer with vision. Its all with direct access to Palmetto Parkway I-520. Minutes to downtown and a short commute to the Cyber Command, one of Augusta top sites.

North Augusta, South Carolina, located directly across the Savannah River from Augusta, is an integral part of Augusta’s urban core and the Urban Area Master Plan. North Augusta and Augusta are each critical to the other’s economic health and current revitalization. This is the regions fastest growing sector.

North Augusta
Value of Construction in Residential & Commercial
2009 – $17M
2016 – $61.7M
2017 – $119.8M

 

SOLD – Real Estate Auction: Historic National Landmark-The Natural Bridge of Virginia

Natural Bridge, Virginia
Real Estate Auction
Historic National Landmark-The Natural Bridge of Virginia

For Immediate Release
Contact: Jim Woltz / 540.342.3560

Natural Bridge of Virginia Has a Bright Future
Owner generously gifts the Bridge and 188 acres—valued at $21 million—
to Virginia Conservation Legacy Fund

Natural Bridge, Va. (Feb. 6, 2014)—Woltz & Associates, Inc. today announced the sale of Virginia’s historic Natural Bridge and 1,500 surrounding acres to the Virginia Conservation Legacy Fund (VCLF).   In the coming years, as part of the terms of the agreement, VCLF will deed Natural Bridge and its surrounding properties to the Commonwealth of Virginia to become a Virginia State Park.  This arrangement was made possible because the Bridge’s owner, Angelo Puglisi, generously gifted the Bridge and 188 acres of the property—valued at $21 million—to VCLF.    

Since 1988, the Natural Bridge, the hotel, attractions and more have been owned and operated by Washington, DC area real estate developer Angelo Puglisi.  He purchased it all with the intent of keeping it accessible to visitors forever.    

Commenting on the new ownership, Puglisi said, “This incredible property is filled with inspiring splendor and history.  I am pleased that this national landmark—once owned by Thomas Jefferson and surveyed by George Washington—now has a path into the Virginia State Park system that will allow upcoming generations to enjoy it just as I have enjoyed it.” 

Jim Woltz, President of Woltz & Associates, said, “This agreement has been months in the making and we’re very pleased with the result.  It’s a great accomplishment to put the last piece of a complicated puzzle together.  The result is a tremendous benefit to the region and the state.  It would not have happened without such a wonderful owner and seller, Angelo Puglisi.”

Multiple parties—including the Virginia Department of Conservation and Recreation (DCR), the Department of Environmental Quality and numerous conservation groups and organizations—worked together to find a solution that was true to Mr. Puglisi’s vision to preserve Natural Bridge and its surroundings for visitors for years to come.

“I admire Mr. Angelo Puglisi and his efforts to conserve Thomas Jefferson’s Natural Bridge for the benefit of future generations. Virginians, indeed all Americans, should be grateful. One of our nation’s most iconic natural landscapes is now protected in perpetuity,” said Joe Elton, Interim Director, Virginia Department of Conservation and Recreation.

VCLF will purchase the balance of the conservation land assets of 1,300 acres with a loan from the Virginia Clean Water Revolving Loan Fund administered by the Virginia Department of Environmental Quality and the Virginia Resources Authority.  Repayment of the loan will be funded through donations and operations of the Bridge.  Upon repayment of the loan, the property and operations will be conveyed to DCR—managers of the Virginia State Park system.

The Natural Bridge itself is designated as a Virginia Historic Landmark as well as a National Historic Landmark.  Known as one of the world’s natural wonders, the Natural Bridge of Virginia has attracted visitors from around the globe since the time of Thomas Jefferson’s ownership.  It is a significant local, regional and national attraction.

Woltz added, “Through the work of many people, Natural Bridge will remain one of the top scenic destinations not only in Virginia but across the U.S.”

###

About Woltz & Associates:
Woltz & Associates, Inc. is one of the Mid-Atlantic’s largest real estate auction/brokerage companies and specializes in estates, farms, ranches, commercial, industrial and investment properties, residential developments, office buildings, and timber, hunting and recreational land.

About Virginia Conservation Legacy Fund:
Virginia Conservation Legacy Fund, Inc. (“VCLF”) is a nonprofit organization which seeks to conserve an appropriate portion of Virginia’s natural resources for public access and enjoyment. Their work in preserving and restoring wildlife habitat is also designed to create economic activity through the recreational and mixed use of Virginia’s vast forests and open spaces. VCLF is a member of the 25 year old Roanoke, Va.- based Kissito Healthcare, Inc. (“Kissito”) a nonprofit charity working both domestically and internationally in health, aging, nutrition, and human development. The relationship between health, nutrition, and our natural environment is well documented. VCLF and Kissito seek to blend these three disciplines to improve the quality of life for the people of Virginia while sustaining our natural resources.

About the Natural Bridge:
The Natural Bridge is a portal to U.S. history.  Easy to get to and hard to forget, it is just off­ Interstate 81 in Virginia’s Shenandoah Valley.   Over five million years old, standing 215 feet at its highest reach, surveyed by George Washington and once owned by Thomas Jefferson, the Natural Bridge is in the esteemed list of being one of the most notable natural wonders of the New World.

To Be Sold at Auction: The Natural Bridge • The Natural Bridge Hotel • The Natural Bridge Gift Shop • The Caverns Of Natural Bridge • The Natural Bridge Wax Museum • 1600± Contiguous Acres Offered in 35 Individual Tracts.

The Natural Bridge of Virginia sits in the southern end of Rockbridge County, flanked by the Blue Ridge Mountains. Forged by nature millions of years ago, the solid limestone bridge stands 20 stories high with a span of 90 feet.

Known as one of the world’s natural wonders, the beauty and spectacle of The Natural Bridge of Virginia has attracted visitors from around the globe since the time of Thomas Jefferson’s ownership and continues today to be a significant local, regional and national attraction. During colonial times and into the early Republic, the Natural Bridge was considered one of the most notable natural wonders of the New World. Today the bridge itself is designated as a National Historic Landmark as well as a Virginia Historic Landmark.

It is doubtful that many properties exist today that are still privately owned which offer so much legacy and history. At the age of 18, George Washington is said to have surveyed the property for Lord Fairfax in 1750. Washington, as the story is told, is said to have scaled some twenty-three feet up the southeast wall of the Bridge and chiseled “G.W” into the stone wall. Thomas Jefferson first saw the Natural Bridge in August of 1767. On July 5, 1774, King George III granted 157 acres of land, including the Natural Bridge to Thomas Jefferson for 20 shillings. The history of the Natural Bridge is rich and deep and offers an incredible opportunity to private investment funds/individuals, hotel operators/investors, conservation groups, developers, land investors and individuals looking for a beautiful Virginia parcel of land to construct their own estate or dwelling.

The Bridge is a stone arch spanning a distance of 90 feet and towering 215 feet above Cedar Creek. Rockbridge County is named for the Bridge. U. S. Route 11 passes directly over the Natural Bridge and was the primary north-south corridor for travel and transportation through the Shenandoah Valley. Visitors can either walk down to the trail head on Cedar Creek or take a short bus ride. The trail under the Bridge and along Cedar Creek begins at the Summer House. At the Summer House visitors can enjoy beverages and food in the open dining area. The trail then leads to the Natural Bridge where visitors linger and take in the massiveness of this stone arch. From the Bridge, the Cedar Creek Nature trail continues through the Cedar Creek Gorge passing the Monacan Indian Village complete with interpreters and ending at Lace Falls. Visitors then return each evening to the Bridge to witness the Drama of Creation light show.

Hotel

The second most significant feature of The Natural Bridge of Virginia is the famous Natural Bridge Hotel and Conference Center. The Hotels is a three story brick structure constructed in 1964 replacing the historic frame hotel. The Hotel is 71,640 square feet and boasts 92 guest rooms. The main floor includes lobbies, gift shop, offices, and restrooms, Jefferson Ballroom (5,600 square feet), Colonial Dining Room (Seats 200) and Kitchen. The Red Fox Lounge adjoins the Colonial Dining Room and seats 50. Adjacent to the main hotel is the Annex. This is a three story brick structure built in 1952 with 9,720 square feet and 30 guest rooms. In addition to the Annex there are eight brick cottages in close proximity to the Hotel which have an additional 36 guest rooms. The Natural Bridge Gift Shop is a 50,990 square foot brick building built in 1954 having slate roof and full two story columns on the front. On the first floor it houses the gift shop, restaurant, ticket sales, offices, restrooms and candy counter. On the lower level one will find restrooms, game room, butter fly exhibit and entrance to bus and Bridge pathway. The Natural Bridge Caverns are located a short distance north of the Hotel and have been opened to the public since 1977. Visitors enjoying the Natural Bridge Caverns tour descend more than 34 stories deep into the earth. The tour is highlighted by Mirror Lake, the Waterfall Room, the Canyon Room, the Colossal Dome Room, and the Wishing Well Room. The Cavern building was built in 1980 and houses the gift shop and entrance to the Caverns. Another major attraction at the Bridge is the Natural Bridge Wax Museum. The Wax Museum building is a two story brick structure built in 1957 with 14,052 square feet of space and also part of gift shop tract. For many years it has been leased to Dorfaman Museums who run the exhibit and have their workshop located here.

Directions

From I-81 Southbound take exit 180 and then Route 11 south. From I-81 Northbound take exit 175 and then north on Route 11.

Distances to Natural Bridge:
Blacksburg, VA – 69 miles
Charlottesville, VA – 80 miles
Fredericksburg, VA – 150 miles
Harrisonburg, VA – 70 miles
Lexington, VA – 16 miles
Lynchburg, VA – 35 miles
Norfolk, VA – 195 miles
Richmond, VA – 35 miles
Baltimore, MD – 226 miles
Charleston, WV – 195 miles
Charlotte, NC – 225 miles
Washington, DC – 180 miles
Asheville, NC – 270 miles

 

 

SOLD – Absolute Auction: 5,340 Acres offered in 23 Tracts