The long-vacant Quality Catering property at Pearl and Whitney roads has been sold at sheriff's auction to a local company.
North Pearl LLC purchased two parcels -- the former Quality Catering site and an adjacent vacant lot at the southwest corner of Whitney and Pearl -- for $445,000.
The two foreclosed parcels at 9192 Pearl Rd. were valued at $424,000 for the sale. Minimum bid was $282,667.
Attorney Nick Catanzarite, who represents North Pearl, said the property will eventually be developed.
"Once the sale is finalized, the building will be demolished and the site will be marketed for re-development," Catanzarite said.
Developers have made two serious bids for the property in recent years, but neither plan got off the ground.
Sheetz wanted to build a gas station on the site, but the project fizzled after objections from residents.
The company has since unveiled plans to build across the street, along with an O'Charley's restaurant.
Earlier this year, Discount Tire sought to build on the corner parcel, but city officials expressed some concerns about the plan, which would have used only part of the parcels and left the former Quality Catering building standing.
The Arizona-based tire company never submitted formal plans.
Economic Development Director Brent Painter said the corner lot is zoned for general business, while the Quality Catering site is zoned restaurant-recreational services.
Court records show the property, owned by the Polivchak Co., has been involved in foreclosure and other legal action since at least 2007.