Valuable Real Estate For Sale At Online Auction
Closing August 9, 2023 @ 1:00 PM

In partnership with Lee & Associates Real Estate we are offering at online auction the real estate and improvements located at 2542 and 2552 Lee Highway, Mt Sidney VA 24467. This property is being offered in two separate tracts. Tract #1 is 0.612 +/- Acres with a 1,040 sq ft commercial building at 2542 Lee Hwy. Tract #2 is 1.969 +/- acres with a 7,229 sq ft commercial building at 2552 Lee Hwy. These properties are zoned General Business and are well suited for a wide variety of commercial uses. Located along busy Rt 11 with great visibility as well as easy access to I-81.

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.

Tract #1 - 2542 Lee Highway is 0.612 +/- acres improved by a well constructed 1,040 square foot commercial building built in 1983. This property is subject to a current lease in the amount of $1,122 per month. The lease expires in August of 2024 and tenants have expressed interest in renewing. The property is served by county water and sewer and features a paved parking lot with entrance off Rt 11. This building has forced air heat and air conditioning throughout, and would be ideal for a wide variety of retail or wholesale business use.

Tract #2 - 2552 Lee Highway is 1.969 +/- acres and adjacent to tract #1 and improved by a 7,229 square foot building originally built in 1907 and added on to since then. This lease for this property has expired and the tenant is in the process of vacating the building. All equipment and business items will be removed prior to closing. This property is served by county water and private septic system. The building is solid and in good working condition with a variety of spaces including offices, two bathrooms, storage, and open floor space areas. It is heated throughout with air conditioning for the office area. It has multiple electric meters and 3 phase current available. It would make an ideal candidate for light manufacturing, repair, retail, or storage businesses. This tract features road frontage on both Rt 11 and Sidney Gap Road.

Both tracts are zoned General Business (See attached document for zoning regulations and uses).

The bidding for both of these tracts will close at 1:00 PM August 9, 2023 with a two minute auto extend.  This means that if a bid is placed on either tract within the last two minutes, the bidding will be extended on both tracts for an additional two minutes. If you wish to buy the entire property you will need to be the final high bidder on both tracts.

This property is being sold subject to seller confirmation with a starting bid of $25,000 per tract. 

We Guarantee A Free And Clear Title To The Property

Property Tour Dates: Friday July 14 @ 1 PM and Friday July 28 @ 1 PM, or on other dates and times by appointment. Please Call Linford Berry (Auctioneer) at 540-476-3309 or David Lee (Real Estate Broker) 540-820-1422 for more information or for an appointment to tour the property.

Property Highlights:

• Conveniently Located On Rt 11 With Easy Access to I-81

• Within 25 Minute Drive Of Harrisonburg, Staunton, and Waynesboro

• Excellent Investment Or Business Use

• Zoned General Business

• Space to Expand On Rear Of Tract # 2

• Municipal Water and Sewer

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

This property is being sold AS-IS with no financing/appraisal/inspection contingencies and with no warranties of any kind. Seller does guarantee 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.

Payment Terms: (See our complete terms at the tab above). Payment will be in the form of Cash or Cash Equivalent with a $10,000 non-refundable deposit for each tract, due the day of the auction (within 24 hours for online bidders at a distance) and the balance due at closing on or before 45 days. Deposit will be applied to the purchase price at closing. If you are getting financing for this property please be pre-approved and be confident that you will be 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).

Note For Real Estate Agents: Preapproved (No later than 5:00 PM on Tuesday August 8, 2023) buyers agent participation will be compensated. (See Documents Tab For Form)

Click Here To See Property Details And Bid