Virginia Historic Landmark – Confirmation Auction
Real Estate - Nicholas Tavern Circa 1815
Highest bid over $350,000 will be confirmed!
Auction Date & Time
Friday 9/8 @ 10am
501 Madison St, Lynchburg VA
Online and LIVE Bidding
If you are unable to attend the auction in person, you can still bid online
Inspections: 10am to 12pm on
- Wednesday 8/16
- Thursday 8/24
- Thursday 8/31
Other times by appointment
Pete Ramsey 434-258-6611
Property Detail /History
- 5,441 Sq. ft
- 17 rooms, total
- 3 full bathrooms
- 3 half baths
- 2 story Federal – Syle building
- Built in 1815
- Garden area
- One of the oldest buildings in Lynhburg
- *may be potential redevelopment incentives available.
- Historic Landmark
The Joseph Nichols Tavern also known as the Western Hotel, is one of Lynchburg's oldest buildings. It was built in the early 1800s and is the last of the city's antebellum taverns. The building is located at the corner of 5th and Madison streets, which was once the western entrance to the city.
The Nicholas Tavern has a rich history. It is said that Thomas Jefferson entertained Andrew Jackson within these walls after he won the Battle of New Orleans. Jefferson also stayed at the hotel frequently during his trips between Monticello and Poplar Forest.
The Nicholas Tavern was placed on the National Register of Historic Places in 1974 and on the Register of Virginia Historical Landmarks that same year. In 1975, the Lynchburg Restoration and Housing Corporation (a local nonprofit organization) rehabilitated the building, saving it from demolition.
Nichols Tavern, also known as the Western Hotel, is a historic building in Lynchburg, Virginia. It was built in 1815 by Joseph Nichols, and is one of the oldest buildings in the city. The tavern was a popular stop for travelers on the Old Ferry Road, which connected Lynchburg to the Shenandoah Valley.
Terms and Conditions
A 10% buyer's premium will be added to the final high bid to determine contract price.The property is sold in “AS-IS” condition, and is not contingent upon buyer's financing, condition of property, appraisal, inspection, etc. Buyers shall rely on their own information, judgment, and inspection of the property. Title will convey via Marketable Deed from all owners of record and free and clear of all liens. The property taxes will be prorated to the date of closing. The closing will take place within 30 days of the sale unless specified otherwise or as soon thereafter as necessary to correct any defects in title. Day of sale announcements take precedence over any previously printed material, or any other oral statements made. The sale is subject to owner confirmation.
All bidders must register to bid online by registering at countsauction.com. Bidders may execute bids either at countsauction.com or by downloading the Counts Realty and Auction App. ONLINE Bidding will open on August 7.
2% Brokers Participation offered. Please contact our office (434-525-2991) or the sales manager for details.
The property is being sold As-Is Where-Is without warranties of any kind or nature.
Due Diligence: Any reliance on the content of information provided shall be solely at the recipient’s risk. All information is believed to be correct but is not guaranteed. Bidders must conduct and rely solely upon their own due diligence. The property is being sold “AS-IS” with all faults.
Default: If the closing does not occur for any reason whatsoever, other than solely due to the fault of the Seller, Seller shall retain the earnest money deposit. This provision shall in no way affect the right of Seller and Counts Auction Group to rely upon and to exercise any other legal remedies or recourse available to them, including without limitation seeking specific performance or monetary damages, in the event the closing contemplated herein does not occur due to default by Purchaser. Purchaser further agrees to pay all attorney fees, court costs and other costs of collection/enforcement incurred by Counts and Seller due to a default by Purchaser.
Inspection: All property is being sold “WHERE-IS, AS-IS,” “WITH ALL FAULTS,” with no representations or warranties of any sort except the general warranty to be included in the deed to the real property. Descriptions are provided as a service to customers only and do not constitute a warranty, either expressed or implied. Counts disclaims all responsibility for physical condition. All buyers are responsible for prior inspection of properties on which they make an offer, and by making an offer(s) are deemed to have so inspected the property to their satisfaction. Placing an offer, whether in person, or by agent, or other means, constitutes an agreement by participant to these conditions of sale
Bidder Verification: The identity of all bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, Counts may reject the registration, and bidding activity may be terminated. You will need a verifiable address, a verifiable phone number, and a verifiable email address. You will be contacted by the sale manager after you register to verify your identity.
Earnest Money Deposit: If the high bidder is onsite, the successful bidder will be required to execute a contract of purchase and make a deposit of 10% of the contract price immediately at the conclusion of the auction. Such deposit may be in the form of a personal or business check. A check should be made payable to The Counts Realty & Auction Group. If the successful bidder is bidding online, a contract will be emailed to the high bidder for execution. This executed contract must be received by The Counts Realty & Auction Group no later than 5:00 pm EDT Friday September 8, 2023. A deposit equaling 10% of the contract price must be received by The Counts Realty & Auction Group no later than 5:00 pm EDT Monday September 11, 2023. This deposit may be in the form of a wire transfer or certified check. A personal/business check will be accepted if delivered to our office in person. The remaining balance of the contract price will be due at closing in 30 days from the auction sale date. Purchaser will be responsible for all wire transfer fees or cashier’s check fee. If the successful online bidder does not execute the contract by 5:00 pm Friday 9/8/23 and make a deposit by 5:00 pm Monday 9/11/23, the Purchaser will be considered in default and subject to legal action. This is a legally binding contract.