OCEANA — There were no takers on the old Magic Mart after an auction on Wednesday, Oct. 30.
According to reports, nobody was willing to meet the minimum reserve on the facility, which was listed at $550,000.
The company will now have to go back through the bids it received and see whether anyone is willing to make a reasonable, albeit lower, price.
The facility was also formerly a Heck’s department store location and was also formerly two different sites before a wall was taken out.
Because the building as two separate HVAC systems, there is a possibility of again making it a dual-facility by putting the wall back up to divide the building.
Earlier this year, it was reported that the building was recently appraised at $1.6 million. The company later set the minimum bid at $550,000.
The building, according to reports, is in good shape and reports that the roof had a leakage problem were false, according to auctioneer representatives.
During its peak years, the Oceana location was the second most profitable Magic Mart in the chain, something it was hoped would bring in a new suitor to the location.
Oceana officials had remarked that the traffic through the town had been down since the Magic Mart had closed its doors on July 9, 2018.
The nearest department stores are now in Beckley or in Logan County.
The auctioneer for the company was Wolfz & Associates.
Along with those who made a bid during Wednesday’s live auction at the facility, other offers are welcome. For further information on the site or to make a potential bid, call 540-342-3560.