4,000+/- sf Former Lighthouse Diner Building

Real Estate Auction in The Westin Richmond, Richmond Virginia, United States

17 Tuesday
December 17th, 2019 11:00 AM

4,000+/- sf Former Lighthouse Diner Building

Real Estate Auction in The Westin Richmond, Richmond Virginia, United States

Tuesday at - 17th December , 2019

Notes

Buyers premium: 10% Buyers Premium based on the high bid.
Closing: 45-Day closing, sold in As-Is condition, no contingencies.
Deposit Amount: Minimum deposit of $10,000 with 10% due within 2 business days. A $50,000 certified check entitles Bidder to purchase multiple properties.
Broker Coop: 2% of the high bid will be paid to a properly registered broker at settlement.

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Auction Items For Sale

This property is one of 10 commercial, residential & redevelopment offerings to be sold individually from the Hild Manchester Real Estate Portfolio Auction. The sale of the properties included in this auction has received all required approvals, including any approvals required pursuant to the Restraining Order issued by the United States District Court for the Southern District of New York on August 28, 2019 in United States v. Hild, Case No. 1:19-cr-00602.

Former Lighthouse Diner building in the heart of Manchester retail district.

  • Located in Opportunity Zone
  • Historic tax credit eligible
  • 4,000+/- sf freestanding building
  • Highly desirable redevelopment opportunity
  • Fully permitted construction drawings convey with purchase. Plans call for a 1 story mixed use Historic Tax Credit renovation and new construction of 2 apartment units at rear for a total of 5 apartments.
  • Recently Upzoned to B-5 which all but eliminates off street parking requirements and allows up to 5 stories of new construction
  • Build up to 5 stories
  • Rennovations underway
  • Approved for Historic Tax Credits. Please find Department of Historic Resources approval letter in PIP.


Parcel ID#: S000-0084-001
2019 Tax Assessment: $218,000
2019 Annual Taxes: $2,668

Note: The order of the properties listed is not indicative of the order in which the properties will be sold at auction. Order of sale will be determined closer to the event.


Please be sure to download the Property Information Package by clicking on the words under “Documents to Download.” By downloading this package you will alert Tranzon Fox to your interest in this property and you will receive emails with any updates on this auction. The package contains information needed to participate in bidding at auction.