The online auction of the former Liquid Sports Club/Barnsider property ended with a bang on Feb. 26, with eight bids in the final hours, including three in the final four minutes of the auction that closed at 4 p.m.
The bidding war between two bidders more than doubled the sale price of the property, from the minimum opening bid of $75,000 when the day started, to its final bid amount of $152,500, or, with the 10 percent buyer's premium, $167,750. That amount, however, is still just slightly more than half of the current appraised value of the property at 5202 N. Main St. in Harrison Twp., which is $318,550, according to Montgomery County online property records.
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The identity of the high bidder — who had 60 days to close the transaction and make the sale final — was not disclosed in the web-based auction.
“The bid has been communicated to the secured creditor and the current owner,” Jeff Byce, the auctioneer and broker of the online auction, told this news outlet via email late this afternoon.
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The internet auction of the building, property and contents of the former Liquid Sports Club/Barnsider space in Harrison Twp. closes at 4 p.m. Feb. 26.
So far, as of mid-morning Monday, the online auction has drawn one bid, and that was for the minimum opening amount of $75,000, according to the byceonline.com auction site. The property is appraised at more than $300,000, according to Montgomery County online property records.
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The identity of the bidders is not disclosed on the online auction site. Auctioneer and broker Jeff Byce said his company would send out a news release at some point after the auction closes. The top bidder will have 60 days to close on the sale, according to the Byce draft purchase contract for the property.
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The 8,200-square-foot restaurant and bar, on a one-acre tract at 5202 N. Main St. in Harrison Twp., housed The Barnsider restaurant for more than four decades until that iconic restaurant shut down and was sold in May 2016. Liquid Sports Club operated in the space for eight months, from November 2016 to July 2017.
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Liquid Sports Club founder Greg Ingersoll purchased the property in May 2016 from Barnsider founder Mary Seto Miller and made several improvements to the parking lot and the building’s exterior prior to opening Liquid.
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For decades, The Barnsider had been a popular gathering spot and destination for prom dinners, rehearsal dinners, family gatherings and special events for decades, serving families and communities in north Dayton and in northern Montgomery County.
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The equipment and furnishings are being sold with the real estate as one complete offering. Tours of the building were held on Feb. 12 and Feb. 17.
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There will be a 10 percent premium added to the high bid and a required $20,000 deposit.
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Equipment and furnishings include 11 flat screen televisions, a grill, three fryers, a convection oven, two pizza ovens, a double-door freezer and two single-door coolers. The high bidder will have to option to purchase the full (D5/D6) state liquor license for $20,000.
The auctioneers called the sale an “excellent opportunity to own a landmark ‘turn-key’ restaurant.”