SOLD - Valuable Commercial Property with Excellent Frontage Along North Battlefield Blvd in Chesapeake, VA

SOLD - Located along North Battlefield Blvd, this 1.188-acre commercial property features two buildings totaling 7,200 SF. According to a third-party report, one building is a 3,600 square foot auto-service building at the rear of the site. The second building is approximately 4,000 square feet and is believed to be fully finished with commercial-grade carpeting, painted drywall, and acoustic drop tile ceiling. The subject property also includes a cell tower, owned and operated by a third party, and subject to a Memorandum of Land Lease dated June 25, 2010, and recorded among the City of Chesapeake Land Records.

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SOLD - FORECLOSURE AUCTION - COMMERCIAL REAL ESTATE - Thursday, June 25, 2020 @ 12:00pm - Located along North Battlefield Blvd, this 1.188-acre commercial property features two buildings totaling 7,200 SF. According to a third-party report, one building is a 3,600 square foot auto-service building at the rear of the site. The second building is approximately 4,000 square feet and is believed to be fully finished with commercial-grade carpeting, painted drywall, and an acoustic drop tile ceiling. The subject property also includes a cell tower, owned and operated by a third party, and subject to a Memorandum of Land Lease dated June 25, 2010, and recorded among the City of Chesapeake Land Records.

Auction Location: Front steps of the Chesapeake Circuit Courthouse, 307 Albemarle Drive, Chesapeake, Virginia 23322

Property Address: 450-460 N Battlefield Blvd, Chesapeake, Virginia 23320

This property is occupied so please do not disturb the tenants. Please refer to the Substitute Trustees Notice of Sale for detailed terms and conditions of this auction. 2% Broker Participation Offered, subject to auction company requirements.

Please contact Stephen Karbelk, Auctioneer, RealMarkets, at 571-481-1037 or stephen@realmarkets.com for additional property information.

 

Please click here to watch our video about the property. 

Location

 

 

NOTICE OF SUBSTITUTE TRUSTEE’S SALE

450 N Battlefield Boulevard, Chesapeake, Virginia 23320

Parcel ID No. 0482001000060

 

 

            By virtue of the power and authority contained in a Deed of Trust from Magnum Land, LLC dated March 26, 2015, and recorded in Deed Book 9492, page 1102 as Instrument No. 150007290 in the Clerk’s Office of the Circuit Court for the City of Chesapeake, Virginia with an original principal balance of $350,000.00, the holder of the indebtedness secured by said Deed of Trust having appointed as Substitute Trustees KYLE D. KORTE and GRAYSON T. ORSINI, by instrument duly executed, acknowledged and delivered, default having occurred under the terms thereof, and at the written request of the party secured thereby, the Substitute Trustee will offer for sale at public auction at the front steps of the Circuit Court for the City of Chesapeake, 307 Albemarle Drive, Chesapeake, Virginia 23322 on

 

Thursday June 25, 2020 at 12:00 P.M.

 

            Improved real properties known as 450 N. Battlefield Boulevard, Chesapeake, Virginia and more fully described as:

 

PARCEL ONE:

 

ALL THAT certain lot, piece or parcel of land situate and being in the Washington Borough of the City of Chesapeake, Virginia, and more particularly bounded and described as follows:

 

Beginning at a point in the Southeastern corner of the property now or formerly belonging to the Grantor herein, which said point also marks the southwestern corner of property now or formerly belonging to William E. Smith, et al, from said point turning and running North 78 degrees 26’ 57” West 31.28 feet to a point;  thence North 8 degrees 26’ 42” East 27.33 feet to a point;  thence North 76 degrees 54’ 27” East 33.58 feet to a point;  thence turning and running South 8 degrees 26’ 42” West 41.35 feet to the point of beginning. Said parcel being more particularly bounded and described as Parcel “A” as shown on that certain plat entitled “Plat Showing Portion of Property to be conveyed to Marion S. Allen by Oak Grove United Methodist Church, Washington Borough, Chesapeake, Virginia”, prepared by Hassell & Folkes, P.C., Surveyors & Engineers, Chesapeake, Virginia.  Said plat is recorded in the aforesaid Clerk’s Office in Map Book 98 at pages 81 and 81A.  Reference is made to said plat for a more particular description thereof.

 

PARCEL TWO:

 

ALL THAT certain piece or parcel of land, situate, lying and being in the Washington Borough of the City of Chesapeake, Virginia, comprising 1.1636 acres, as shown on a certain plat entitled “Boundary Survey of Property owned by William E. Smith, Tax Section 488, Parcel 5A & 6, Washington Borough, Chesapeake, Virginia”, dated July 31, 1986, and recorded in the Clerk’s Office of the Circuit Court of the City of Chesapeake, Virginia, in Map Book 86, at page 12 and in Map Book 86, at page 24, reference to said plat being made for a more particular description of the property.

 

TOGETHER WITH an easement for ingress and egress over a 40 foot land extending from Battlefield Blvd., North to the property now or formerly of Swift pursuant to that Deed dated October 17, 1961, recorded in the aforesaid Clerk’s Office in Deed Book 1332, at page 552.

 

IT BEING the same property conveyed to MAGNUM LAND, LLC, by Special Warranty Deed of Marion S. Allen, Trustee of the Marion S. Allen Revocable Living Trust, said Deed dated 6/18/2010, and recorded in the Clerk’s Office, Circuit Court, City of Chesapeake, Virginia, in Deed Book 8140, at page 814.  Deed of Correction recorded in Deed Book 8217, at page 328.

 

            TERMS OF SALE: Cash.  A deposit of $30,000.00 or ten percent (10%) of the sale price, whichever is lower, in cash or certified check payable to the Substitute Trustee shall be required of the successful bidder at the time of sale before the bidding will be closed.  The balance of the purchase price will be due within twenty (20) days of the sale at the public auction.

 

            As-is. The property will be sold in an “as-is” condition without warranties of any kind.

 

            Written notice of this Substitute Trustee’s sale, as required by Section 55.1-321 of the 1950 Code of Virginia, as amended, has been sent to the property owners as their addresses appear in the records of the noteholder, and to all parties prescribed therein.

 

            Additional terms of sale will be announced at the sale.

 

FOR INFORMATION CONTACT:

 

Stephen Karbelk, Auctioneer

RealMarkets

571-481-1037

stephen@realmarkets.com

on behalf of Kyle D. Korte and Grayson T. Orsini, Substitute Trustee(s)

200 Bendix Rd, Ste 300

Virginia Beach, VA 23452

 

2124264.0149