Residential & Commercial Real Estate For Sale @ Online Auction

Bidding Closes August 28, 2024 @ 1:00 PM

We are offering at online auction the real estate and improvements located at 1306 Virginia Ave, Harrisonburg VA 22802. This income producing property is zoned B2 and includes a 3 bedroom house plus a commercial garage building and storage shed on 0.41 +/- acres.  The house features 1,635 sq ft of living space with 3 bedrooms, 1 bath, front porch and rear enclosed porch. The property also has a 60' x24' four bay garage building in the rear with 10' and 12' tall overhead doors plus a 18x16' storage shed. The garage building and storage shed are both equipped with electricity and concrete floors. The garage building is separated into 4 bays and currently leased on a month to month basis. The house will need some updates and renovations but was occupied up until a few months ago.

There are lots of possibilities with this property. Use it for a business location or continue to rent it to residential and business tenants. It is located on busy State Route 42 Virginia Ave with an AADT of over 13,000 vehicles. It is within a short walking distance of Eastern Mennonite University, Harmony Square Shopping Center, Virginia Mennonite Retirement Community, and many other local establishments. Three of the 4 bays in the garage are currently leased to long term tenants with month to month leases requiring 30 day termination notice if you wish to occupy the premises. When last fully leased, the house and commercial spaces brought in over $3,000 income per month. House and commercial building are on separate electric meters.

Note: The commercial entrance used to the garage is NOT part of the parcel but has been used and shared for many years to enter the property. If it was ever to not be available for future use, the property does have it's own driveway entrance that leads back to the garage (storage building would need to be moved).  See survey plat under documents for more information.

All Bids Must Be Submitted Online. Click The "Bid Online Now" Button To See Property Details and To Bid.

The bidding for this property will close at 1:00 PM August 28, 2024 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.

This property is being Sold Subject To Seller Confirmation With A Starting Bid of $25,000

Pre-Auction Offers Will Be Entertained

Property Tours: 5 PM Wednesday August 14, 5 PM Monday August 26, or at other dates and times by appointment. Please Call Linford Berry (Auctioneer) at 540-476-3309 or David Lee (Broker/Owner) at 540-820-1422 for more information or for an appointment to see the property. 

Property Highlights:

• 0.41 +/- Acre Lot
• Home Built In 1931
• Zoned B2
• 1,635 Sq. Ft Of Living Space
• 3 Bedrooms, 1 Bath
• 60x24 4 Bay Garage With 10x12' Overhead Doors
• 18x16' Storage Shed With Concrete Floor and Electricity
• Hardwood Floors
• Metal Roof
• Oil Heat
• City Water and Sewer
• Windows Need To Be Replaced
• AADT over 13,000

Additional Information and Photos Can Be Found At The Tab Or Dropdown Menu At The Top Of This Page or By Clicking The “Bid Online Now” Button.

Do You Need Financing For This Property?  We Recommend The Following Lenders:

• Jordan Branner - F&M Mortgage
• Julie Yoder - Integrity Home Mortgage Corp
• Michelle Fix- Alcova Mortgage

Terms and Conditions:

• WE GUARANTEE A FREE AND CLEAR DEED TO THE PROPERTY
• This property is being sold in AS-IS condition with no financing/appraisal/inspection contingencies. Bidders are strongly encouraged to inspect the property themselves and/or 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.
• 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).
• Payment Terms: Payment will be in the form of Cash or Cash Equivalent with a $10,000 non-refundable deposit due the day of the auction (within 24 hours for online bidders at a distance) and the balance due at closing on or before 30 days. Deposit will be applied to the purchase price at closing. Please do not bid if you are not able to close within 30 days.
• Financing may be obtained for the property, but the sale is not contingent upon obtaining financing.
• All information provided by Mountain Valley Auction Group was obtained from sources believed to be reliable but are not guaranteed. Buyer shall rely on their own information, judgment, and inspection of the property.
• View the sample purchase agreement and complete terms under the "Docs" tab or drop down menu at the top of the page under the photo.

Note For Real Estate Agents: Preapproved (No later than 5:00 PM on August 27) buyers agent participation will be compensated. Click Here For Form