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Lake Odessa Vlg,MI 48849
Key Details
Property Type Commercial
Sub Type Business And Real Estate
Listing Status Active
Purchase Type For Sale
Square Footage 2,310 sqft
Price per Sqft $172
MLS Listing ID 65024039972
Originating Board Greater Regional Alliance of REALTORS®
Year Built 1900
Annual Tax Amount $2,883
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.To access financial statements and documents, please submit a request here: https://buildout.com/connect/sharing/lakeo?view_locked_docs=true
Location
State MI
County Ionia
Area Lake Odessa Vlg
Zoning Other
Direction M-50 to 4th Ave, North on 4th Ave
Interior
Heating Baseboard,Forced Air
Heat Source Electric,Natural Gas
Exterior
Roof Type Other,Rubber
Road Frontage Paved
Building
Foundation Basement
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Structure Type Aluminum,Block/Concrete/Masonry,Brick
Schools
School District Lakewood
Others
Tax ID 10120000035501
Ownership Private Owned
Acceptable Financing Assumable (Asm-Lend App),Cash,Conventional
Listing Terms Assumable (Asm-Lend App),Cash,Conventional
Financing Assumable (Asm-Lend App),Cash,Conventional
Special Listing Condition Unknown/Data Share Listings