$399,000
1027 4th Avenue Lake Odessa, MI 48849
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$399,000
Est. payment /mo
2,310 SqFt
Active
1027 4th Avenue Lake Odessa, MI 48849
UPDATED:
08/08/2024 03:47 PM
Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 2,310 sqft
Price per Sqft $172
Subdivision Mi
MLS Listing ID 70422421
Year Built 1900
Annual Tax Amount $2,883
Tax Year 2023
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.
Location
State MI
County Ionia
Area Lake Odessa (34021)
Interior
Heating Baseboard, Forced Air
Exterior
Waterfront No
Roof Type Other-See Remarks,Rubber
Building
Foundation Basement
Water Public Water
Structure Type Aluminum,Block,Brick,Concrete
Others
Ownership LLC
Energy Description Electric,Natural Gas
Financing Assumption,Cash,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Amplified Real Estate
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