Online Real Estate Auction
Bidding begins closing Tuesday, March 24th at 6:30PM
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.
AUCTION TERMS
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. 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
Joe R Pyle WV212
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