Appalachian Power Company to auction land on Smith Mountain Lake, Woltz announces

ROANOKE, Va., May 8, 2015 /PRNewswire/ -- Appalachian Power Company has decided to sell one of its prized tracts of land on Smith Mountain Lake at auction. Woltz & Associates will manage the auction, set for early October in cooperation with Schrader Real Estate and Auction Company and Murray Wise Associates.

"Over the years, Appalachian Power has sold land directly to developers who created such premier properties as Water's Edge, Waverly and Park Place, to name a few.  However, this time the company has decided to use an auction to make this land available to both individuals and developers. The property, known as the Kennedy Tract, is perfectly suited to accomplish this, with long road frontage and miles of shoreline. The plan is to offer it in 24 tracts ranging from approximately 2.9 to 18 acres, with most being six acres or less," said Jim Woltz, president of Woltz and Associates.

The property, located in the Penhook area of Franklin County, includes 2.7 miles of shoreline.

"We have sold a great deal of Smith Mountain Lake land over the years, and this is some of the most beautiful I've ever seen, with the best location and water frontage, and expansive views on the lake," said Woltz.

Bids will be allowed on any individual tract, combination of tracts, or on the entirety. "The method of bidding will enable the person who just wants a single home site to compete on an equal footing with someone who might be seeking all of the land. We could have one buyer or as many as 24," said Woltz.

Individuals interested in additional information about the properties and the upcoming auction may visit www.woltz.com or call Woltz & Associates at 800-551-3588.

Appalachian Power Company operates Smith Mountain the Lake Hydro Plant that creates the nearly 600 miles of shoreline touching Bedford County, Franklin County, Pittsylvania County and Roanoke County.

Woltz & Associates is based in Roanoke. Schrader Real Estate and Auction Company is based in Columbia City, Ind. Murray Wise Associates LLC is headquartered in Champaign, Ill.

For more information:
Carl Carter, 205-823-3273

SOURCE Woltz & Associates