Trustee Auction Renovated Charleston Historic Building

Trustee Auction Renovated Charleston Historic Building Historic Landmark This iconic 6-story building known as The Woodrums Building was originally constructed in 1916. Prominently Listed as a Historic Landmark on the National Register of Historic Places, blending timeless charm with modern functionality after a meticulous multi-year renovation completed in the mid-2020s. Expansive Urban Space The building features an outstanding 92,800sf situated on 0.42-acre lot in the heart of Downtown Charlestons Historic District A beauty to behold and fantastic opportunity for the savvy investor. High Upside Potential Contains 84,712 SF of net rentable area suitable for residential, commercial, or mixed-use development. Open floor plan lends itself perfectly to loft style apartments in a market with high demand for downtown units. Recently Appraised Fall 2024 MAI appraisal provides a Stabilized value of $4.7M with savvy management and a keen vision this Premier Location could be the Cornerstone of Charlestons Revival! Appraisal Report available upon NDA signing. Existing Income Stream Currently generating $82,961.75 annually from 5 current tenants. Primed for growth through active leasing efforts. Based on current rental rates stabilized income is estimated at over $800,000/yr. Highly sought location near federal courts, Charleston Convention Center, Towne Center Mall & more. On-Site Parking Rare downtown covered garage (18 private parking spaces) with secure access, as well as multiple public parking garages and metered street parking nearby for tenants and surrounding businesses. 16 ft. roll up doors with loading dock and freight elevator accessible to all floors of the building. Proximity to Attractions One block from the scenic Kanawha River, near major attractions including Charleston Coliseum, state and federal courts, shopping, office and WV State Museum. Strong Connectivity Easy access to I-77, I-79, I-64, and under 10 minutes to Yeager Airport excellent for commuters and regional travel. Renovation History Originally constructed for Woodrums Home Furnishings in 1916, expanded in 1927 with renovations in 1936 and 1995. Entire foundation up renovation and update in 2024. Recent Capital Improvements New fully adhered .060 EPDM roofing system with a 20-year NDL warranty installed in October 2024. All rooftop HVAC units have been replaced within past 6 years. Open For Business! This location is ready for business! The Woodrums Building is a true landmark location in the CBD of Charleston and has retained its historic appeal while exceeding the modern demands of mixed-use development currently features multiple Class A residential quarters along with premium office and retail space. Do Not Miss This Incredible Opportunity This is signature property in Charlestons Central Business District, ideal for developers, investors, and visionary owners seeking secure investment that stands the test of time. Selling by Authority of the Successor Trustees ELLEN S. CAPPELLANTI and L. RICHARD DORSEY Successor Trustee for Deed of Trust dated December 21, 2012 Tranzon Asset Advisors and Joe R. Pyle Auction and Realty Services, Agents of the Successor Trustees and Secured Parties. All terms and conditions of sale subject to the NOTICE OF SUCCESSOR TRUSTEES SALE OF REAL PROPERTY. Bidders may Obtain the Notice and Sale Terms from the Agents of the Successor Trustees and Secured Party. Title insurance policy is available at buyers cost and expense. Property sold in its as is and where is condition, No contingencies of sale, subject to buyers fee of 10% of the high bid. Sold in cooperation with Joe R. Pyles Complete Auction & Realty Services, Inc., Joe Pyles, WV Auctioneer/Broker Sold by Pursuant to Authority of the Successor Trustees ELLEN S. CAPPELLANTI and L. RICHARD DORSEY Subject to Sale Prior to Auction without Notice 10% Buyer's Premium and other terms apply Online bidding ends August 26th at 4:00pm CT Inspection: August 19th & 25th at 12:00pm ET Property Address: 600-602 Virginia Street East, Charleston, West Virginia 25301