Dodge dealership not sold at auction

There was a large crowd, and plenty of money in the audience, when the old Dodge dealership went up for auction Thursday. Bidding was sluggish from the start and ended at $725,000. (James Clark photo)

It was a bit of a letdown when the former Dodge dealership did not sell at auction Thursday afternoon. This is after I had planned a big announcement with fireworks and cake for today’s column.

Owner Gene Robbins sure wanted to sell the property, but the bids weren’t nearly high enough. The bidding finally stopped at $725,000, which is well less than what Gene paid for the property two years ago. It’s a full $1 million less than the appraised price of $1.7 million that auctioneers were broadcasting Thursday.

When I asked him if he would let the property go for $725,000, Gene simply said, “No way.”

Personally, I’m stunned the 6.2 acres of property and 15,000-square-foot building didn’t stir more interest. It’s prime-time property with a daily traffic count of 63,000 cars each day (and once again that’s according to auctioneers).

I never thought the bidding would approach $1.7 million, but I did expect much more interest. It got me thinking about recent high-dollar land transactions in McMinnville and how the Dodge property didn’t come close to approaching those numbers.

So how much did Walgreen’s pay for its 1.6 acres in Plaza Shopping Center? I’m glad you asked. According to our register of deeds office, the property sold for $1.3 million. Yes folks, I said $1.3 million.

So how much did Eckerd pay for its nearly 2 acres on the corner of Chancery and Locust streets? Well, I happen to have that figure handy. Eckerd paid significantly less, $775,000 according to county records.

So why could 6.2 acres — with a usable building less than 20 years old — only fetch $725,000? I don’t know. The property remains for sale for anyone interested.