Details
What's selling:
Property Type: Commercial
Square Footage: 4480 sq ft
Lot Size: 2.9994 acres
Zoning: RM2
Features:
- Commercial building with ample space for various purposes
- Detached garage approximately 600 sq ft
- Approximately 450 feet deep with 272 feet road frontage on Cove Rd
- Mostly level lot suitable for redevelopment
- Ideal for apartments, townhouses, and more (subject to Roanoke regulations)
Don't miss this opportunity to invest in a prime commercial property with vast potential for redevelopment.
Contact us for more details and to participate in the auction!
AUCTION DATES: Simultaneous Auction (with live & online bidding)
Online bidding begins Monday, March 11 @ 12:00 noon and goes live Wednesday, March 27 @ 12:00 noon
LOCATION OF AUCTION: 2720 Cove Road NW, Roanoke, VA 24017
PROPERTY ADDRESS: 2720 Cove Road NW, Roanoke, VA 24017
PREVIEW DATES: Wednesday March 13 (12 - 2 pm) and Wednesday March 20 (12 - 2 pm). Exterior inspections are welcomed anytime.
SALES MANAGERS: Pete Ramsey - 434-258-6611 - pete@countsauction.com
Instructions on how to register are under the map under downloads.
DIRECTIONS: From the intersection of 1-581 and Hershberger Rd. (Rt. 101), go approximately 0.5 miles west on Hershberger Rd to Cove Rd. Turn left onto Cove Rd. and go 0.6 miles to the property. It will be on the right.
Buyer's Premium: 10%
Terms: 10% deposit is due on sale day with the balance due in 30 days. Full terms listed below.
Broker participation: 2% broker participation is offered. Please contact the sales manager for details.
Terms and Conditions
AUCTION TERMS AND CONDITIONS:
A 10% buyer’s premium will be added to the final high bid to determine the contract price. A 10% deposit is required. If you are the high bidder bidding onsite, you will be required to sign an auction contract immediately after the conclusion of the auction and pay the 10% deposit. This deposit may be in the form of cash or check. No credit cards are accepted. If you are an online bidder, you will be required to sign an auction contract and return it to The Counts Realty & Auction Group no later than Friday, March 29, 2024 @ 5:00 pm. The 10% deposit must also be received by The Counts Realty & Auction Group no later than Friday, March 29, 2024 @ 5:00 pm. This payment may be in the form of cash, check, cashier’s check, or wire transfer. Credit card payment will not be accepted. Please contact our office (434-525-2991) for wiring instructions. The high bidder shall be responsible for all wire transfer fees or cashier’s check fees.
Inspection: Property is being sold AS-IS, WHERE IS with all FAULTS with no representations or warranties of any sort. While all information provided is deemed to be reliable, they are not guaranteed and do not constitute a warranty, either expressed or implied. All bidders are responsible for doing their own due diligence to determine if they should bid and/or purchase the property.
Terms: All online bidders must register to bid online by registering at countsauction.com. Bidders may execute bids either at countsauction.com or by downloading the Counts Realty & Auction Group app. The property is sold in “AS – IS” condition and is not contingent upon bidder’s financing, condition of the property, appraisal, or inspection. Bidders shall rely on their own information, judgement, and inspection of the property. Title will convey via marketable title, free and clear of all liens. The property taxes will be prorated as of the date of closing. The closing will take place within 30 days of the auction date unless specified otherwise or as soon thereafter as necessary to correct any defects in the title. Day of sale announcements take precedence over any previous printed materials or any other oral statements made.
Bid Increments: Once the live portion of the bidding starts, the auctioneer determines the bid increments as well as the pace of bidding.
Bidder Verification: The identity of all bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, Counts Realty & Auction Group may reject the registration and bidding rights may be terminated.
Online bidders: Registration will require a $1,000 hold be placed on your credit card so you can be approved to bid. Once you have registered online, please call Counts Realty & Auction Group at 434-525-2991 so we can process your credit card information and approve you for bidding. At the conclusion of the sale and you are not the high bidder, the credit card hold will be released and will be available in 3 to 7 business days. If you are the high bidder on the property, Counts Realty & Auction Group will contact you to make arrangements for Contract signing and deposit payment. If you fail to execute the contract and return it along with the required deposit by Friday, March 29, 2024 @ 5:00 pm to the Counts Realty & Auction Group, you will be considered in default and subject to legal action. Your credit card will be charged $1,000.
Technical Issues: Neither The Counts Realty & Auction Group nor the company providing the bidding platform shall be held responsible for missed bids or the failure of the software and/or internet connection to function properly.
Default: If the closing does not occur for any reason whatsoever, other than solely due to the fault of the Seller, Seller shall retain the earnest money deposit. This provision shall in no way affect the right of the Seller and/or The Counts Realty & Auction group to exercise any legal remedies or recourse available, including without limitation, seeking specific performance or monetary damages. Purchaser agrees to pay all attorney fees, court costs, and other costs of collection/enforcement incurred by the Seller and/or The Counts Realty & Auction Group.
Controlling Law: The respective rights and obligations of the parties with respect to the Terms and Conditions of Sale and the conduct of the sale shall be governed by the laws of the Commonwealth of Virginia.
Acceptance of these Terms and Conditions is acknowledged by placing a bid either in person, via telephone, or online.
