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Immediate Sale Directed via Public Auction

137 Room Hotel on I-95 – “Roadway Inn & Suites”

Prime Location at I-95 Exit Ramp

Details:

  • 405 East Washington Street, Petersburg, VA 23803
  • Ideally Located Directly off I-95
  • 137 Guest Rooms, Restaurant & Banquet Hall
  • 4 Buildings (2 – 3 Floors in Each)
  • Buildings “A”, “B” & “C” Connected
  • Lot Size: 136,301 Sq Ft (3.68 Acres)
  • Property Comprised of Four Buildings
  •     Building “A”
  •        Restaurant (1st Floor)
  •        Hotel Lobby/Office (1st Floor)
  •        2 Banquet Rooms (2nd Floor)
  •     Building “B”
  •         48 Guest Rooms
  •         2 Floors (16 Rooms per)
  •     Building “C”
  •         65 Guest Rooms
  •         2 Floors (39 Guest Rooms on 1st, 26 Guest Rooms on 2nd)
  •     Building “D”
  •         24 Jacuzzi/Efficiency Guest Rooms
  •         2 Floors (12 Guest Rooms per)
  • Hotel Amenities:
  •     Connected Restaurant
  •     Banquet Hall (250+ Occupancy)
  •     Outdoor Pool
  •     Covered Driveway
  • Additional Information:
  • Parcel ID#  012-130003
  • Zoning B-2
  • Lot Size: 136,301 (3.68 Acres)
  • Building Size: 78,990 Sq Ft
  • 140 Parking Spaces
  • Year Built: 1965
  • 23 Miles South of Richmond, VA
  • Nearest Airport: Richmond International (23 Miles)
  • Nearest Train: Petersburg Amtrak Station (3 Miles)
  • Annual Real Estate Taxes: $10,752.72
  • $450,000 Suggested Opening Bid

Inspection/Viewing:  Available by Appointment.

Auction Date & Time:  Thursday, April 23rd at 11:00 am.  Registration begins at 10:00 am.

Auction Location:  Two live bidding locations are available.  On-site and at Maltz Auctions Auctioneer’s Gallery, 39 Windsor Place, Central Islip, NY 11722. Online/Absentee Bidding Also Available with Registration at Least 3 Business Days Prior to Auction.

Terms & Conditions of Sale: Property will be sold free & clear of all liens, claims & encumbrances.  In order to register to bid, all prospective bidders must present a cashier’s check in an amount of $45,000 made payable to “Motleys Asset Disposition Group”.  Closing must occur within 45 days after the auction. Successful Bidder shall be granted a 30-day extension to close if he/she posts an additional non-refundable 10% deposit.  Subject to sale prior to auction as pre-auction offers will be considered.  Please download the complete Terms and Conditions of Sale.

Buyer’s Premium:  An eight percent (8%) Buyer’s Premium will be added to the Successful Bidder’s high bid to determine the contract price to be paid by the Successful Bidder.

Buyer Broker Participation:  A two percent (2%) commission will be paid to any properly licensed Buyer Broker who registers a successful buyer in accordance with the Buyer Broker guidelines.  Please download the Broker Participation form for details.

Have Questions? Get In Touch

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Sold in Conjunction with Motleys Asset Disposition Group, VA Licensed Real Estate Broker and Licensed Auctioneer
Sperry Van Ness/Motleys, VAAL #16
Phone (804) 232-3300
Maltz Auctions, Inc.
Phone (516) 349-7022  Fax (516) 349-0105

 

This Property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either expressed or implied, concerning the Property is made by the Seller, Auction Company or any of their Agents.  The information contained herein was derived from sources deemed reliable, but is not guaranteed.  Most of the information provided has been obtained from third party sources and has not been independently verified.  It is the responsibility of the Buyer and/or Buyer’s Broker to determine the accuracy of all components of the sale and Property.    Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the Property, including without limitation, environmental and physical condition of the Property.  All prospective bidders are urged to conduct their own due diligence prior to participating in the Public Auction.

Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.