Foreclosure - Operating Marina/Development Site

Real Estate Auction in 9100 Wilcox Neck Rd, Charles City County Virginia, United States

21 Tuesday
May 21st, 2019 12:00 PM

Foreclosure - Operating Marina/Development Site

Real Estate Auction in 9100 Wilcox Neck Rd, Charles City County Virginia, United States

Tuesday at - 21st May , 2019

Notes

Buyers premium: 8% Buyers Premium based on the high bid added to high bid to calculate Purchase Price.
Closing: 45-Day closing, sold in As-Is condition, no contingencies.
Deposit Amount: Minimum auction day deposit of $50,000 in guaranteed funds, adjusted to 10% of Purchase Price within 2 business days of auction.
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

Foreclosure Auction of Turnkey Marina/Riverfront Development Opportunity:
This offering is ideally suited for continued operation as a public marina and for waterfront townhome development. Other intriguing uses such as a campground/RV park, etc. would require county approval. Most of the undeveloped land is zoned R-2-C, offering residential development possibilities to complement and enhance the marina.

Located off of I-64, approximately 35 miles east of Richmond and 15 miles west of Williamsburg, River3s Rest Marina & Resort offers an established marina, comfortable lodging and dining in an unspoiled Chickahominy River waterfront setting. This all-in-one complex contains all the necessary equipment and facilities for a Turn Key business including a full-service, 60 wet slip marina, operating, 20-room motel, a recently renovated, well regarded restaurant and brick waterfront home.

The property consists of +/- 16.45 waterfront Acres and is improved with +/-7,761 SF, 20 room Motel, +/- 2,576 SF Restaurant, +/- 225 SF Bait and Tackle Shop, a 60-slip Marina, 2BR/1BA brick, waterfront home, 20x50 swimming pool, private shower and bathroom facilities and high-capacity community well and pumphouse.

Development Potential
Of the +/-16.45 acres, the majority of the developable land, including, significant water frontage, is zoned R-2-C. The county has approved this area for townhome development. The 2008 approval references additional sewer capacity is required, but the county has since developed a new waste treatment facility with ample capacity for any reasonable development of this site. Please find R-2 zoning ordinance and R-2-C zoning approval letter in PIP. A portion of the Property remains zoned B-1-C, General Business, including the current marina improvements and approximately one acre on Wilcox Neck Road. With the marina, restaurant and pool amenities already in place, complimentary, higher-density residential is a natural fit.

Marina - 60 Slip Marina, Floating Docks and Double Finger Piers
The Marina consists of four piers with floating docks, providing 60 wet slips for storage. Each wet slip has access to 30 or 50 AMP electrical service as well as pump out. The Marina also offers fueling service. The bulkhead extends along most of the parcel’s shoreline and a concrete boat ramp allows for the launching of boats from paying visitors or dry storage. Other improvements include two smaller piers.

*The Marina has approval for 30 additional boat slips, which expires in summer 2019. Please see letter from Commonwealth of Virginia, Marine Resources Commission in PIP.

  • 60 slip, dual-fingered floating docks
  • Docking space for permanent & transient traffic
  • Dockside 30 & 50 amp electric and water hookup
  • Pump out and dry trailer storage
  • Fuel dock with gas, diesel available upon request
  • Concrete dual ramp
  • Bathhouse with shower and restroom facilities on site
  • Ships store with marine supplies, bait & terminal tackle
  • Ample parking for boat trailers
  • 20x50 swimming pool for guests
  • Washers & dryers
  • Quick access to James River


Motel - Virginia Waterfront Lodging
The Motel is perfectly situated on the property, providing guests with an excellent view of the river. The improvement is a 2-Story building containing +/-7,761 SF. It offers 20 rooms, each with 2 Full Size Beds and bath. Guests of the motel also have access to the pool. Motel expansion is permissable by Charles City County.

  • Spectacular River Views
  • 20 spacious rooms with all amenities
  • 20x50 swimming pool
  • 2 Full Size Beds
  • Refrigerator, microwave
  • Laundry facilities on premises


Waterfront Restaurant
The restaurant has been a popular local eatery with inside and outside seating. It is located directly on the riverfront with beautiful views up and down the Chickahominy. The renovated eatery is +/- 2,576 SF with a seating capacity of 120. To drive business, The Blue Heron has provided a popular water taxi service to patrons along the river.

Bait/Tackle Shop & Ships Store
The Bait/Tackle Shop & Ships Store is approximately 15x15. The store is primarily utilized for sales of Ice, Drinks, Gas, Oil, Bait, Maps, Boat Supplies and Fishing Tackle.

Business Assets - Personal and Intangible Property
Please see list of Personal Property & Business Assets that will be included with the sale in the PIP. Intangible assets are believed to include business website, phone numbers, business name and certain customer information operator may possess.

Zoning
R-2C:  Per Charles City County, this district is composed of higher density residential development in the form of multi-family dwellings, apartments and/or townhouses in areas appropriately located for such uses.

Please find Charles City County Zoning information in PIP, including 2008 letter approving the zoning change to R-2-C.

B-1C:  Per Charles City County, the purpose of this district is to provide sufficient land in appropriate locations for a wide variety of retail, service and public activities, generally serving large portions of the County and the region. Please find B-1 zoning ordinance and 2004 letter approving rezoning from A to B-1-C.

Web links
Please visit the Rivers Rest website for additional information, www.riversrest.com
 

Parcel ID#: 45-7 45-7-B 45-10-1 Approx. Acreage: 7.16 ac 1 ac 8.29 ac 2018 Tax Assess.:   $1,316,600   $17,000   $310,100 2018 Taxes: $10,006 $129 $2,357


Additional Summary Terms

  • Current Owner/Operators have agreed to vacate the Property after the auction, by a date agreeable to Purchaser.
  • There is presently a first deed of trust on Auction parcel 45-10-1 for which the foreclosing lender is not the beneficiary. The pre-recorded deed-of-trust lien encumbering tax parcel no. 45-10-1 (Instrument no. 170000160) shall be paid from the proceeds of this sale.
  • To the extent applicable, property rents, income and other revenues will be prorated as of the date of closing (not the date of the auction). The Purchaser will have no claim to pre-closing revenues. Real estate taxes likewise will be prorated as of the date of closing (not the date of the auction), and pre-closing real estate taxes will not be the responsibility of the Purchaser.
  • This is a combined foreclosure/secured-party sale. All assets (real property, personal property and intangibles) will be conveyed on an “AS IS, WHERE IS” basis, without representation or warranty of any kind, except for the “special warranty of title” contained in the deed.