Wednesday, April 21, 2010

The Big Wheels Bidding on The Heironimus Warehouse


Today, April 21st 2010 was a gathering of all of the big dogs in town to bid on the old historic Virginia can company, the Heironimus Warehouse. It had a great turnout, probably 50 or so people. I got there early for some time for a walk through. Just a quick look over of the enormous building took me 30 minutes. And that place is in dire need of repair. Multiple roof holes, broken windows, buckled floors in areas, a major beam sinking into the ground causing the upper floor in an area to have a significant dip. Probably something that a skateboarder would like to have fun in.

.... But I see right through that stuff. That place has got LOTS of potential for someone who has the millions required to turn it into some luxury condos or something. All of the big wheels in and around Roanoke were there... That's why I was there.... Just kidding. I don't have the money to play with the big dogs yet. I was just there for the free food. LOL. Actually, it was a good experience. It's nice to walk through a place like that which gets the wheels turning on what you could do with it. After all, that's what I do, extremely heavy rehabs. And now I have a better idea of how to determine the cost of repairs on a place like that after putting some thought into it.

It sold for 260K to the head honcho of Cycle Systems. There is some metal in there but not that much. I definitely wouldn't think 260K worth. I'm assuming they won't be doing the luxury condos. I guess it will be warehouse space for them.

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