$399,000
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1027 4th AVE Lake Odessa, MI 48849
2 Baths
2,310 SqFt
Key Details
Property Type Commercial
Sub Type BusinessandRealEstate
Listing Status Sold
Purchase Type For Sale
Square Footage 2,310 sqft
Price per Sqft $159
MLS Listing ID 65024039972
Year Built 1900
Lot Size 5,227 Sqft
Property Sub-Type BusinessandRealEstate
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 Area34142Lakeodessavlg
Interior
Heating Baseboard, Electric, ForcedAir, NaturalGas
Exterior
Parking Features Gravel
Utilities Available ElectricityConnected, NaturalGasConnected, PhoneConnected
View Y/N No
Roof Type Other, Rubber
Building
Foundation Basement, Stone
Sewer PublicSewer
Water Public
New Construction No
Schools
High Schools Lakewood
School District Lakewood
Others
Acceptable Financing Assumable, Cash, Conventional
Listing Terms Assumable, Cash, Conventional
Special Listing Condition Standard
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