Restaurant Plazability?

Hope that another restaurant would replace the former Plaza Restaurant and Club on First Street in downtown Rogers seems to be fading.

First National Bank of Rogers, which foreclosed on the property in February, had been showing the property to local restaurateurs in hopes of finding someone who would reopen the restaurant. The building still has restaurant equipment and was a popular spot for downtown workers.

“We feel The Plaza is missed downtown,” says Kathy Mayhall, special assets manager for the bank. “We had wanted to find someone who would keep a restaurant there.”

The bank has shown the property to several prospective buyers, including two Fayetteville restaurateurs last week. But, nobody has made an offer on building.

The former owner, Art March, had listed the building for $800,000 before the bank foreclosed on it. Mayhall says the building could be purchased for a lot less.

“I think it is an excellent location and an excellent buy for someone,” she says.

The bank plans to begin advertising the building soon. It could easily be converted into office space, Mayhall says.