Mixed-Use Building in Growing Boone County Market

Online Real Estate Auction

 

Bidding begins closing Tuesday, Tuesday, July 28^th at 6:00PM

 

220 State Street

Madison, WV

 

Mixed-Use Commercial & Residential Building in Growing Boone County Market

 

Property Overview

12,182± Sq Ft Mixed-Use Building on 0.16± Acre Lot

Three (3) Commercial Storefront Suites

Three (3) Residential Apartments (Value-Add Opportunity)

On-Site Parking Lot

Separate Utility Meters for Electric & Water

Current Income & Leasing

Juanita’s Mexican Grill – Established Tenant Paying Monthly Rent

Two Additional Commercial Suites

Previously Operated as Law Offices

Ideal for Professional Services, Retail, or Office Use

Potential to Convert to Additional Residential Units for Increased Cash Flow

Residential Upside Potential

Three (3) Apartment Units On-Site

Units in Need of Renovation — Excellent Value-Add Opportunity

Ideal for Long-Term Rentals, Workforce Housing, or Short-Term Leasing Strategy

Opportunity to Reposition as a Mixed-Use Income Producer

Location & Market Highlights

Prime Downtown Location Adjacent to Boone County Courthouse

Minutes from Route 119 — Major Regional Thoroughfare

Strong Daily Traffic Counts & Visibility

Central Location Serving Local Businesses, Government Offices & Community Services

Investor Highlights

Multiple Income Streams (Commercial + Residential)

Existing Tenant in Place

Separate Utilities Simplify Expense Allocation

Flexible Use Potential: Office, Retail, Residential, or Hybrid

Ideal for Out-of-State Investors Seeking Emerging Market Growth

Strong Long-Term Appreciation Potential in Revitalizing Downtown Corridor

Summary

This versatile mixed-use property offers immediate income with substantial upside through renovation and repositioning. Located in the heart of Boone County’s government and business district, this is a rare opportunity to acquire a multi-tenant asset in an up-and-coming market with strong fundamentals and future growth potential.

 

District 3, Map 5, Parcels 130, 130.1 & 131

 

10% buyer’s premium. 60 days to close. Please read full terms and conditions before bidding.

 

REAL ESTATE TERMS: 10% nonrefundable down payment made day of auction (or within 24 hours for online bidders) with balance due at closing. Cash, check, & wire transfer accepted. Credit cards will not be accepted for the down payment. REAL ESTATE PURCHASE AGREEMENT WILL BE SENT TO THE EMAIL ON FILE FOR ELECTRONIC SIGNATURE FOLLOWING THE CLOSE OF THE AUCTION AND MUST BE SIGNED IMMEDIATELY. No financing contingencies will be entered into the contract. Any required inspections must be completed prior to bidding. Property is being sold as is, where is with no warranty written or implied. 

Property will be sold free and clear of all liens. Seller is conveying surface rights only with no oil, gas, coal, mineral, or other subsurface interests conveyed unless otherwise noted. 60 days given to close. Announcements sale day take precedence over all advertisements published. 10% Buyers Premium will be added to determine final contract price. Name of purchaser on contract must be the name of the winning bidder or an entity which the winning bidder legally represents. No exceptions. Real estate sold subject to owner confirmation unless otherwise noted. Auction company reserves the right to bid on behalf of the seller in an auction with reserve. 

 

AGENCY DISCLOSURE: Joe R. Pyle Auction and Realty Service is acting as Auctioneer/Agent and is an agent for the seller only.

 

DISCLAIMER: All information regarding the description of this property is derived from sources deemed reliable but not warranted. Information is believed to be correct to the best of auctioneer/agent’s knowledge but is subject to inspection and verification by all parties relying on it. Sellers, their representatives and auctioneer/agent shall not be liable for inaccuracies, errors, or omissions.

Any references to acreage, unless otherwise noted, are derived from public record and are not warranted. Buyers are responsible for conducting their own research prior to bidding.

 

BUYER/BROKER INFORMATION: Commission will be paid to any properly licensed buyer's broker who registers a successful buyer according to the Broker Participation Guidelines. Broker registration forms are available on our website or from the company office. Broker must be registered 24 hours prior to Auction. Brokers/Agents are not entitled to a commission if they are the purchaser.

 

We don't just list your property - WE SELL IT!

JOE R. PYLE COMPLETE AUCTION & REALTY SERVICE

Joe R. Pyle, Broker

(888) 875-1599

5546 Benedum Drive Shinnston West Virginia 26431

www.joerpyleauctions.com

 

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