Retail Property in West Virginia Sells for Double Reserve Pricing in Online Auction

  • Jun 22, 2021
  • Marketplace Closings

195 Greasy Ridge Road195 Greasy Ridge Road in Princeton, West Virginia, a 10,188 square-foot restaurant retail property, was auctioned on RI Marketplace (“Marketplace”) and has closed on June 22, 2021. The asset sold for 228% of its original reserve price. David Andrews of The Shopping Center Group brokered the sale in collaboration with the Marketplace’s Kevin Lipson and Carter Lovejoy.

The auction event drew strong interest from investors bringing seven bidders to the auction platform resulting in a sale price that was double the original reserve. The transaction closed in less than 30 days from going under contract. The buyer is a real estate developer that plans to redevelop the site as an Aspen Dental retail location.

The property is the former site of Ryan’s Steakhouse and sits in East River Plaza Shopping Center, a multi-tenant retail center which houses national retailers including Walmart, Dollar Tree, and Outback Steakhouse, among others.

195 Greasy Ridge Road sits in Mercer County, West Virginia, 93 miles southeast of Charleston, West Virginia.  

Learn more about selling on Marketplace or get started with a Marketplace valuation here
195 Greasy Ridge Road
195 Greasy Ridge Road