WINSTON-SALEM, N.C.– An architectural jewel in the crown of Downtown Winston-Salem will be sold at judicial public auction this summer. The sale is court-ordered to settle the estate of on of the owners, Mary Smithdeal, who passed away in 2007.
The Nash Building — also known as the “Bolich Building” — has the addresses of 616-636 West Fourth Street, a route that introduces downtown Winston-Salem’
“This is an incredible opportunity for interested buyers,” says Jason Thiel, president of the Downtown Winston-Salem Partnership. “The Nash Building is an outstanding 1920s Beaux Arts commercial building with elaborate exterior detailing and is located in an area that continues to grow with more retail, restaurant and housing opportunities.”
Originally constructed by J.A. (Lou) Bolich, Jr., the Nash/Bolich Building has been in the Smithdeal family since the 1940s when it was purchased at a foreclosure sale by family members, including John F. Smithdeal. As a Winston-Salem business and civic leader, Smithdeal founded Smithdeal Realty and Insurance Company, was president of John’s Realty Company, operated Planters and George-Davis tobacco warehouses, acted as director of First National Bank of Winston-Salem and served as a member of the N.C. State Legislature.
When it was built in the late 1920s, the Nash/Bolich Building opened up new opportunities for retail business along a main avenue in the city. Today, the building serves the same purpose for long-time tenants such as Separk Music and newer additions such as Skippy’s and Subway. Its prime location beside Foothills Brewery is directly across the street from the Winston-Salem Chamber of Commerce, within walking distance of the turn-of-the-
In 2000, the Nash/Bolich Building received the prestigious “Downtown Excellence Award,” following its 1999-2000 “Mayor’s Award” from the Forsyth County Community Appearance Commission. The building is one of three Beaux Arts commercial buildings in Downtown Winston-Salem because of its eclectic Neo-classical styling that includes elaborate detailing such as anthemions and swags.
“It’s a beautiful building, and it has the desirable Central Business District zoning, which allows for a wide range of uses,” says Lou Baldwin, president of Baldwin Properties, which leases and manages the building. “There is an established revenue stream from street level tenants, and the vacant space on the second floor offers a great opportunity for office, residential, retail, restaurant or mixed-use redevelopment in downtown Winston-Salem, which has been experiencing an extended period of growth and revitalization. It’s an exciting time to invest in downtown.”
Wesley Bailey, the court-appointed commissioner, will sell the property pursuant to the official notice notice of sale in “as is” condition and subject to existing leases. The sale takes place at noon on Wednesday, July 15, and is subject to an upset bid process. Bidders must put down a 5 percent good faith deposit on the day of the sale. Interested buyers will be able to tour the building every Wednesday from 10 a.m. to 2 p.m. starting May 20.
Copies of the official notice of sale, the court order appointing Bailey as commissioner and the existing leases can be obtained at http://www.bolichbuilding.com or by contacting Bailey at his Winston-Salem office located at 3069 Trenwest Drive, (336) 725-8366 (phone), or wbailey@baileyandthomaspa.com (e-mail).
For more detailed information and photographs, visit: http://www.bolichbuilding.com.
