HOW MUCH WOULD YOU LIKE TO OFFER FOR THIS PROPERTY?

Additional details

Downtown Realty

team@dtrdetroit.com +1(313) 466-7253

$ 399,000

Est. payment -/mo

Save

Active

1027 4th Avenue Lake Odessa Vlg, MI 48849

2,310 SqFt

UPDATED:

08/08/2024 03:34 PM

Key Details

Property Type Commercial

Sub Type Business And Real Estate

Listing Status Active

Purchase Type For Sale

Square Footage 2,310 sqft

Price per Sqft $172

MLS Listing ID 65024039972

Originating Board Greater Regional Alliance of REALTORS�

Year Built 1900

Annual Tax Amount $2,883

Lot Size 5,227 Sqft

Acres 0.12

Lot Dimensions 44x123

Property Description

Discover an exceptional business investment and management opportunity in the heart of Lake Odessa, MI.C&R's Homestyle Restaurant, in business for over a decade, is one of ''Lake O's'' most popular dining destinations, boasting a current EBITDA of over $150K, with an average 3-year EBITDA of over $130K, and an annual revenue growth of 5-10% - bringing its 2023 revenue total to over $600K.Run by a single owner-operator, plenty of expansion opportunities are available, along with a second-story unfinished apartment that is ready to renovate and lease.Extremely popular with locals, sold at a 1.75 EBITDA multiple, and with real estate listed at just $125K, this business is priced to sell to its next owner.To access financial statements and documents, please submit a request here: https://buildout.com/connect/sharing/lakeo?view_locked_docs=true

Location

State MI

County Ionia

Area Lake Odessa Vlg

Zoning Other

Direction M-50 to 4th Ave, North on 4th Ave

Interior

Heating Baseboard, Forced Air

Heat Source Electric, Natural Gas

Exterior

Pool No

Waterfront no

Roof Type Other,Rubber

Road Frontage Paved

Building

Foundation Basement

Sewer Public Sewer (Sewer-Sanitary)

Water Public (Municipal)

Structure Type Aluminum,Block/Concrete/Masonry,Brick

Schools

School District Lakewood

Others

Tax ID 10120000035501

Ownership Private Owned

Acceptable Financing Assumable (Asm-Lend App), Cash, Conventional

Listing Terms Assumable (Asm-Lend App), Cash, Conventional

Financing Assumable (Asm-Lend App),Cash,Conventional

Special Listing Condition Unknown/Data Share Listings

Listed by Amplified Real Estate

Downtown Realty

Brokerage | License ID: 6505386963

+1(313) 466-7253

GET MORE INFORMATION

QUICK SEARCH

Homes For Sale in Detroit, MI