1027 4th Avenue Lake Odessa, MI 48849
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
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
Year Built 1900
Annual Tax Amount $2,883
Tax Year 2024
Lot Size 5,401 Sqft
Acres 0.12
Lot Dimensions 44x123
Property Sub-Type Retail
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
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
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