ONLINE AUCTION: Property that houses Mexican restaurant on the block

The building and property at 7500 Poe Ave. in Vandalia — which currently houses an El Rancho Grande restaurant that is slated to close in the coming months — is being sold via online auction.

The online auction began Dec. 14 and will end at 3 p.m. Jan. 17. Montgomery County property records show the owner as the Yale Family Limited Partnership. The property will sell "regardless of price to the highest bidder with no minimums or reserves," according to its Ohiorealestateauctions.com listing.

El Rancho Grande officials have said they intend to close the restaurant this year, perhaps as early as mid-March, when they open a new restaurant at 7375 Old Troy Pike (Ohio 202) in Huber Heights. That Troy Pike space previously housed a LaRosa’s Pizza restaurant, which shut down in late October.

The Poe Avenue restaurant was built in 1990 on 2.69 acres. County officials have tentatively valued the property and building at $585,000, down from more than $1 million in 2002, according to its Montgomery County online property listing.

El Rancho Grande is currently on a month-to-month lease and is currently paying $6,970 a month, which includes property taxes, according to the auction firm’s listing.

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About the Author

Mark Fisher

Mark Fisher, a 1981 graduate of Ohio State University and a 1976 graduate of Beavercreek High School, is a third-generation Dayton-area resident who has worked for the Dayton Daily News since 1983. He covered higher education and K-12 education accountability issues for nearly 20 years before taking over the food and dining beat in 2006.