Valuable Real Estate For Sale At Online Auction
Closing February 10, 2022 @ 1:00 PM

To settle the estate of Geral K. Wells and in partnership with Lee & Associates Real Estate we are offering at online auction the real estate and improvements located at 707 Richmond Ave, Staunton VA 24401.

This property is 0.51 +/- acres zoned B2 General Commercial and improved by a showroom/warehouse and two story office structure with over 18,000 sq ft of floor space.  It features road frontage on both Richmond Ave and Young St. With an AADT of 21,000 and only 1.3 miles from I-81 this property would make an excellent space for a variety of retail or wholesale businesses.

This Is An Online Only Auction - All Bids Must Be Submitted Online. Click The "Bid Online Now" Button To See Property Details and To Bid.

This property is being sold to the highest bidder regardless of price with a starting bid of only $100,000.

Property Highlights:

• 7,800 Sq Ft showroom with offices and restrooms 
• 8,800 Sq Ft two story warehouse space with loading dock
• 1,700 Sq Ft two story office space with separate entrance
• Excellent business location, investment, or rental opportunity
• High traffic area with AADT of 21,000
• Road frontage on Richmond Ave and Young St.
• Gas heat, A/C and heat pumps for showroom and offices
• City water and municipal sewer

Additional Information Can Be Found At The 'Documents' Tab At The Top Of This Listing and By Clicking The “Bid Online Now” Button.

The bidding for this auction will close at 1:00 PM February 10 with a two minute auto extend.  This means that if a bid is placed within the last two minutes the bidding will be extended for an additional two minutes.

Property Tour Dates: Thursday January 13 @ 1 PM and Wednesday February 2 @ 1 PM, or on other dates and times by appointment. Please Call Linford Berry at 540-476-3309 or John Dale Gardner 540-290-4321 for more information or for an appointment to tour the property.

This property is being sold AS-IS with no financing/appraisal/inspection contingencies and with no warranties or guarantees. Seller guarantees clear title to the property. Bidders are encouraged to enlist the assistance of professional inspectors or contractors in evaluating the condition and value of the property. All inspections must be performed prior to the auction.

Terms: (See our complete terms at the tab above). Payment will be in the form of Cash or Cash Equivalent with a $20,000 non-refundable deposit due the day of the auction (within 24 hours for online bidders at a distance) and the balance due at closing within 45 days. Deposit will be applied to the purchase price at closing. Please do not bid if you are not able to close within 45 days.

Buyers Premium: There will be a 10% Buyers Premium added to the high bid to determine total contract purchase price. (For example a 100,000 bid would have a buyers premium of $10,000 added for a total purchase price of $110,000).

Realtor Representation: Preapproved (No later than 5:00 PM on Wednesday February 9) brokers participation will be compensated. Twenty percent (20%) of the buyers premium will be paid to a qualified licensed real estate agent whose registered buyer's offer is accepted by the seller and closes on the property.