Topic: Real Estate Auction

Woltz & Associates, Inc. joins in congratulating Amanda Brewer-Lord on the successful re-opening and expansion of the Wohlfahrt Haus Dinner Theatre. On November 15, 2024, after nationwide marketing and interest from potential buyers across the U.S., the property was sold at auction. Jonna McGraw, Auctioneer and Associate Broker at Woltz & Associates, Inc. managed the sale on behalf of the owner. The Wohlfahrt Haus auction highlights the benefits of sale by auction to both sellers and buyers.

HOMETOWN ENTERTAINMENT: Wohlfahrt Haus Dinner Theatre re-opens with new ownership (WDBJ7)

Property 1: (Sold)

Minimum Bid: $1,750,000
Assessed Value: $2,030,200

The property is currently the home of Wohlfahrt Haus Dinner Theatre, a family-owned and operated dinner theatre located in Southwest Virginia. Since its founding in 1999 by Peggy Sutphin, the theatre has served a five-state region and is beloved for its productions and dinners. Generally, performances have been offered four days a week. During the last five years, there have been as many as 281 performances annually with attendance as high as 43,854. This season’s scheduled shows will continue through December 22. Visit wohlfahrthaus.com for scheduled shows and special events.

This auction offers the opportunity to purchase the real estate that includes the dinner theatre as well as the Matterhorn Restaurant and Bier Garten. Most of the personal property on-site will convey with the real estate. A list of personal property not conveying is included in the Real Estate Bidder Packet available from the Auction Company.

The property is located in Wythe County which is bordered by the Blue Ridge and Alleghany Mountain ranges. It is located in the Town of Wytheville on a 2.93± acre parcel visible from the junction of I-77 and I-81. There is easy access to the property from the interstate highways. Two hotels, Days Inn which adjoins the property, and Holiday Inn Express, within a short walking distance, provide convenient lodging for patrons visiting the theatre and restaurant who desire to explore Wytheville and the surrounding area. See tourist info at visitwytheville.com.

The 19,300± SF building has three levels with central HVAC and wet sprinkler systems. The 13,654± main level includes a vestibule, lobby with box office, theatre/dining area with four floor levels, elevated stage and orchestra pit, a commercial kitchen, the Matterhorn restaurant, a gift shop, and four restrooms. The second floor, which is 3,263± SF, consists of four offices, a computer room, a lighting booth, a restroom, a mechanical room, storage rooms, and a VIP viewing area overlooking the dining area. In addition, and not included in the square footage, is a 256± SF atrium that overlooks the main lobby. The 2,383± SF basement contains two dressing rooms with showers, a costume preparation room/laundry, a prop construction room, and a loading platform. The Bier Garten includes a 625± SF seating area with a gazebo and a clock tower.

For investors and end users who are not interested in continuing to utilize the property for a theatre, the excellent location and visibility of the property and Business District B-2 (General) zoning offer an outstanding investment opportunity. A few permitted uses include retail stores, motels and hotels, assembly halls, breweries and distilleries, hospitals and some other types of medical facilities, churches, and some signage.

The property is identified as Wythe County Map Parcel 041-000-0000-0054B.

Wohlfahrt Haus Dinner Theatre Floor Plan

Bidder Packets will be available at the preview or upon request from the auctioneer.

5% buyer’s premium added to high bid on real estate.

Travel Time to Property 1

Directions

To Property 1: 170 Malin Dr., Wytheville, VA 24382

From I-81: Take Exit 73 (US 11S/Wytheville). At the end of the ramp, take the first left onto Malin Dr. at the Circle K store. Go .20 mi. to the Theatre.

From I-77S (from Bluefield/Charleston): Take Exit 73 (US 11S/Wytheville). At the end of the ramp, take the first left onto Malin Dr. at the Circle K store. Go .20 mi. to the Theatre.

To Properties 2 & 3: 485 S. 8th St., Wytheville, VA 24382

From I-81: Take Exit 73 (US 11S/Wytheville) onto US 11/E. Main Street. Go 2.3 mi. and turn left onto S. 8th Street. Go .2 mi. to Property 2 on the right at the corner of S. 8th St. and Union Street. Property 3 adjoins Property 2 and fronts on Union Street.

From I-77S (from Bluefield/Charleston): Take Exit 41 (Rt. 610/Wytheville/Max Meadows). Turn right at the end of ramp toward Wytheville onto Rt. 610, Peppers Ferry Road. Go 1.0 mi. & turn left onto N. 11th Street. Go 1 block and turn right onto E. Main Street. Go .6 mi. and turn left on S. 8th Street. Go .2 mi. to Property 2 on the right. Property 3 adjoins Property 2 and fronts on Union Street.

To Sale Site: Wytheville Meeting Center. 333 Community Blvd., Wytheville, VA 24382

From I-81: Take Exit 73 (US 11S/Wytheville) onto US 11/E. Main Street. Take the first right onto Lithia Road. Continue 1.5 mi. (road becomes Community Blvd.) and turn left into parking lot for Wytheville Meeting Center.

From I-77S (from Bluefield/Charleston): Take Exit 41 (Rt. 610/Wytheville/Max Meadows). Turn right onto Rt. 610, Peppers Ferry Rd. toward Wytheville. Go .2 mi. and turn left onto Community Blvd. Go .1 mi. and turn right into parking lot for the Wytheville Meeting Center.

Basic Terms & Conditions of Auction & Online Bidding

1. ONLINE BIDDING: IN ORDER TO BID ONLINE, PROSPECTIVE BIDDERS MUST REGISTER BY 12:00 NOON EASTERN STANDARD TIME ON WEDNESDAY, NOVEMBER 13, 2024. The successful bidder must initiate a wire transfer of the deposit [ten percent (10%) of the contract sale price] into the Woltz & Associates, Inc. Escrow Account on the day of the sale.
2. REGISTRATION: Bids will be accepted only from registered bidders. On-site registration at the Wytheville Meeting Center begins at 1:00 PM Eastern Standard Time. Please bring your driver’s license for identification.
3. ANNOUNCEMENTS: Announcements made on the day of sale take precedence over all prior communications, verbal and written, concerning the auction sale.
4. AUCTION SALE: Each parcel is being sold subject to Seller confirmation of the high bid. The confirmation bid amount for each property has been announced. 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. No warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. Before bidding, 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.
5. FINANCING: THE SALE OF THE PROPERTY IS A CASH TRANSACTION AND IS NOT CONDITIONED UPON THE BIDDER OBTAINING FINANCING. Bidders should arrange any necessary financing prior to registering to bid.
6. BIDDING: Registered bidders may bid on individual properties and, when the confirmation bid amount is reached on a property, it may be bid upon in combination with other properties that have reached their respective confirmation bid amount.
7. 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 contract sale price.
8. DEPOSIT ON REAL ESTATE: A deposit in the amount of ten percent (10%) of the contract sale price (high bid plus Buyer’s Premium) is required on day of sale. The deposit is payable on sale day by cash, wire transfer into Auction Company’s Escrow Account, or a 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.
9. CLOSING DATE: The balance of the purchase price is due at settlement on or before January 7, 2025. Seller will utilize the property through December 23, 2024. Closing to occur between December 24, 2024, and January 7, 2025.
10. 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.
11. LEAD-BASED PAINT: The house located on Property 2 was 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. The Lead-Based Paint Disclosure is available on woltz.com. Bidders will be provided the Lead-Based Paint Disclosure prior to signing a real estate purchase agreement and agree to waive the ten (10) day right to inspect
12. LIABILITY: Bidders inspecting property enter at their own risk. Auction Company assumes no risk for bodily injury or damage to personal property.
13. AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER.
14. BIDDER PACKETS: The Auction Company will have a Preliminary Bidder Packet available on the inspection days, online, and upon request.
15. BOUNDARY LINES: Boundaries shown on aerial photographs and topographical maps which are provided by the Auction Company as a courtesy to bidders are approximate.
16. GENERAL: The information contained in the sale brochure, on woltz.com, in all advertising, and in the Real Estate Bidder Packet is subject to verification by all parties relying upon it. No liability for accuracy, errors, or omissions is assumed by the Seller or the Auction Company.
17. ONLINE BIDDING/SOFTWARE & TECHNOLOGY: Auction Company reserves the right to reject any bid in its sole discretion. In the event there are technical difficulties related to the server, software, or any other online auction-related technologies, Auction Company reserves the right to extend bidding or close the bidding. NEITHER THE AUCTION COMPANY PROVIDING THE SOFTWARE NOR THE AUCTION COMPANY 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 as deemed necessary by Auction Company. Online bidders must register by 12:00 Noon on Wednesday, November 13, 2024.