ROANOKE, VA -- (Marketwire) -- 06/15/12 -- One of Smith Mountain Lake's oldest and best known marinas will sell in an absolute foreclosure auction Friday, July 27, with Woltz & Associates marketing the property and managing the sale.

Smith Mountain Dock, which includes floating and dry dock space for scores of boats, will sell in eight parcels. "This is a true institution, and one thing you never have to do is explain where it is. Everybody on the lake knows of it, and they know where to find it, and that's the foundation of a solid business," said Jim Woltz, president of the company. "Thousands have memories of feeding the fish there with popcorn."

Most of the marina business is located on a 4.5-acre parcel, which includes the marina, fuel tanks and pumps, covered boat slips, finger docks and a launching area. Another 12 covered boat lifts, 10 floating finger docks and other facilities are located on a 2.3-acre parcel.

Other parcels include:

• Eleven acres that formerly were used for the Ponderosa Trailer Park. The property also has a house, gazebo and dock, as well as floating docks.
• A 5.5-acre tract suitable for building sites, with lake frontage.
• A waterfront tract with four efficiency apartments and a storage unit.
• A 0.4-acre tract with three efficiency rental units and docks.
• A 0.3-acre tract with a two-bedroom rental unit on the water with a dock.
• A 0.97 acre tract with a residence overlooking the lake.

"By offering the property in tracts, we're enabling investors to purchase just the parts that may interest them and fit their needs. Someone might want the rental properties but not the marina. You really have several good businesses here that can be operated separately," said Woltz.

Individuals interested in additional information about the auction may visit woltz.com or call 800-551-3588.

Woltz & Associates, based in Roanoke, Va., is a leading auctioneer of commercial and residential properties and land throughout the United States, with an emphasis on the Mid-Atlantic region. More auction information.

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