UPDATED:
08/08/2024 03:13 PM
Key Details
Property Type Commercial
Sub Type Retail/Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 2,310 sqft
Price per Sqft $172
Municipality Lake Odessa Vllg
MLS Listing ID 24039972
Full Baths 2
Originating Board Michigan Regional Information Center (MichRIC)
Year Built 1900
Annual Tax Amount $2,883
Tax Year 2024
Lot Size 5,401 Sqft
Acres 0.12
Lot Dimensions 44x123
Property Description
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.
Location
State MI
County Ionia
Area Grand Rapids - G
Direction M-50 to 4th Ave, North on 4th Ave
Rooms
Basement Full
Interior
Heating Baseboard, Forced Air
Inclusions Real Estate, Inventory, Furniture, Equipment
Exterior
Utilities Available Phone Connected, Natural Gas Connected, Electricity Connected, Broadband
View Y/N No
Roof Type Rubber
Street Surface Paved
Building
Foundation Stone
Sewer Public Sewer
Water Public
Structure Type Aluminum Siding,Brick
New Construction No
Schools
School District Lakewood
Others
Tax ID 101-200-000-355-01
Ownership LLC
Acceptable Financing Conventional, Assumable, Cash
Listing Terms Conventional, Assumable, Cash
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