Defunct dollar store sold for $195,000
Staff writer
The former Family Dollar and Dollar Tree building at 826 N. Roosevelt St. was auctioned off last week for $195,000, with another $20,000 being charged to the high bidder as a platform fee.
According to the Marion County treasurer’s office, the building has an estimated value of $800,000.
For most of the auction, put on by Marcus and Millichap, the high bid was $50,000 close to deadline; bids started rolling in one after another.
The building, built in 2022, has 10,697 square feet and is on 1.05 acres.
To start the auction required each bid to represent an increase of $5,000. This later was decreased to $1,000 before ending up at $500.
In the final three minutes if a bid was submitted the clock would revert back to three minutes regardless how much time was left. Some of the final bid occurred in the last 10 seconds.
The auction was scheduled to end at 3 p.m. but with the late bids it ended at 3:40 p.m.
Who purchased the property and plans are for it are not yet known because the deed for the building has not been filed.