1027, 4th, Lake Odessa, MI, 48849
Basics
- Date added: Added 2 months ago
- Category: Commercial Sale
- Type: Retail/Commercial
- Status: Active
- Bathrooms: 2
- Lot size: 0.12 sq ft
- Year built: 1900
- Bathrooms Full: 2
- Lot Size Acres: 0.12 acres
- Business Name: C & R Homestyle Cafe
- Business Type: Restaurant
- County: Ionia
- MLS ID: 24039972
Description
-
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
Show all description
Location
- Directions: M-50 to 4th Ave, North on 4th Ave
Building Details
- Building Area Total: 2310 sq ft
- Number Of Units Total: 2
- Construction Materials: Aluminum Siding, Brick
- Sewer: Public Sewer
- Heating: Baseboard, Forced Air
- Roof: Rubber
- Foundation Details: Stone
- Number Of Buildings: 2
- Basement: Full
Amenities & Features
- Inclusions: 1, 1, 1, 1
- Utilities: Phone Connected, Natural Gas Connected, Electricity Connected, Broadband
- WaterSource: Public
- Fireplaces Total: 2
Fees & Taxes
- Tax Assessed Value: $51,660
- Tax Year: 2024
- Tax Annual Amount: $2,883.68
- Gross Income: $612,927.33
- Maintenance Expense: $6,860.75
- Insurance Expense: $8,707.70
School Information
- High School District: Lakewood
Miscellaneous
- Road Surface Type: Paved
- CrossStreet: 1st St & 4th Ave
- Listing Terms: Conventional, Assumable, Cash
