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4654 Legends Hwy
Glen Jean, WV 25846
Randy Burdette with Foxfire Realty, original listing - (304) 645-7674
$1,200,000
Conventional
Property
Bedroom
--
Bathroom
½: 2
Property Type
Conventional
Square ft
9500 Square Feet
Property Description
Off the US-19 expressway at Glen Jean, this level, two-acre commercial property boasts easy access, high visibility, and a steel and metal building of more than 9,500 square feet. The property is convenient to major area tourist attractions, including the Bechtel National Scout Reserve and the New River Gorge National Park and Preserve. HIGHLIGHTS More than two level acres Steel building of more than 9,500 square feet More than 225 feet of frontage on highways WV-16, WV-61 The average daily traffic on US-19 is 18,700 vehicles Fewer than 400 feet from US-19 expressway exit at Glen Jean One mile from the entrance to the national scout reserve Two miles from the New River Gorge national park Central to the property, a general-purpose warehouse building of steel and insulated metal panels built in 2004 includes more than 9,500 square feet of interior space in addition to a two-stall concrete block garage. The building and garage sit on a six-inch-thick slab of poured concrete. Built for use as an auto body and towing shop, the property has been managed carefully since it was established. The building consists principally of an ample single open plan space of more than 7,300 square feet and an entrance lobby and office area of more than 1,000 square feet. A covered front porch more than 30 feet wide and 11 feet deep is located at the front entrance. An eat-in kitchen and two bathrooms are convenient for customers and employees. Mechanical improvements include a residential heating and air conditioning system, suspended forced-air blowers in the garage areas, and a supplemental wood-burning heat plant. Other property highlights include two outbuildings, a detached two-vehicle carport, and more than half an acre of graveled parking lot. Much of the parking lot at the rear of the building is enclosed in a privacy fence. LOCATION Google Coordinates: 37.922058, -81.159459 Address: 4654 Legends Highway, Glen Jean, WV 25846 Elevation Range: 1,630 to 1,645 feet +/- MINERAL RESOURCES West Virginia law provides for separate ownership titles for surface rights and mineral rights. This property is being conveyed as surface only. BOUNDARIES AND SURVEY There is a metes-and-bounds description of the property in the owners' deed. The southern boundary runs with the northern side of the road. The property is being sold by the boundary and not by the acre. UTILITIES Water: West Virginia Water Co. Electricity: American Electric Power Natural Gas: Mountaineer Gas Co. Internet: High-speed service available Fire Service: Mount Hope and Oak Hill Fire Department Cell: 5G coverage supplied by several carriers Sewer: White Oak Public Service District ACCESS/FRONTAGE The property includes more than 225 feet of frontage on Legends Highway (WV-16 and WV-61), fewer than 400 feet from US-19 expressway exit at Glen Jean. ZONING Fayette County is subject to zoning and subdivision regulations. All prospective buyers should consult the county commission and county health department for details regarding zoning, building codes, and installation of septic systems. PROPERTY TYPE/USE SUMMARY The property is commercial. It is mostly in open lawns with fencing. DEED AND TAX INFORMATION Deed Information: Deed book WB82, Page 580 Fayette County, West Virginia Acreage: 2.04 acres +/- Real Estate Tax ID/Acreage/Taxes: Fayette County (10), West Virginia Plateau District (2) Tax Map 45D Parcel 11, 13, 15 2023 Real Estate Taxes: $3354.18
Property Information
Lot Size
2 acre(s) square ft
Property Type
Commercial Sale-Other
Year Built
1990
MLS Number
--
Location
Address
4654 Legends HWY
City
Glen Jean
State
WV
Zip Code
25846
County
FAYETTE
Listing
Provider
Foxfire Realty, original listing
Name
Phone
(304) 667-2897
Office Name
Office Phone
(304) 645-7674
Agent Name
Randy Burdette
Agency Phone
(304) 645-7674

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HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.