Three Roanoke office condominiums to be auctioned off

Published October 8, 2013 by Robert Powell, III

Three office condominium units in downtown Roanoke will be sold at auction next month.

The units total about 21,000 square feet and make up the third, fourth and fifth floors of the 707 Building at Jefferson Street and Day Avenue. The property will sell subject to a minimum bid of $149,000 for the three units combined.

Roanoke-based Woltz & Associates will manage the sale.

“Two of these units were formerly used by a law office and are built out with conference rooms, private offices and large work areas,” Jim Woltz, president of the auction company, said in a statement. “The fifth floor was used by a medical practice and has private offices/exam rooms, large work areas and conference rooms.”

The minimum bid equals only $7.10 per square foot, “which is less than it would cost to lease this office space for a year,” Woltz said.