The former Oxford town office building at 85 Pleasant St. has been sold to 88 Bethel Road Holdings. The new owners will not determine its future use until it has been structurally assessed. Nicole Carter/Advertiser Democrat file

OXFORD — Oxford’s old town office at 85 Pleasant Street is now privately owned. The closing to sell the building and property to 88 Bethel Road Holdings through auction was held on Feb. 24.

Oxford selectmen had approved 88 Bethel Road Holdings’ bid of $54,000 on Jan. 5. It was the only bid received after the auction was posted on the town’s municipal website.

Previously, the building had been listed for sale with commercial real estate broker The Fletcher Group of Portland for $300,000.

The new owners are Christopher Davis of Oxford and Brian Landis of Mechanic Falls and their investment may bring about a class reunion, as both were students when the building served as Oxford’s elementary school.

Reached by phone, Davis said the partners had not considered buying 85 Pleasant Street until they saw it was available through auction. They have no immediate plans on developing it.

“First, we need to have it structurally assessed,” Davis told the Advertiser Democrat. “Once we have that determined we will look at what we want to do with it. It will definitely be a multi-year project.”

Potential uses for the building could be rental apartments or possibly office space. Davis and Landis own B&C Oil Company of Oxford, which is located around the corner on King Street, and a rental property in Paris.

Davis said he has already received some calls from elementary school classmates, asking if they can get a tour of their old alma mater.

The 12,000 square foot building, which dates back to about 1890, served as Oxford’s school for decades. It became Oxford’s municipal headquarters in 1998 and in the years since has been beset by poor drainage, a flooding basement and poor air quality caused by black mold.

The town of Oxford purchased an office building at 133 Pottle Road from Stephens Memorial Hospital one year ago and moved into its new headquarters last September.