1027 4th Avenue Active Save Request In-Person Tour Request Virtual Tour
Lake Odessa,MI 48849
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
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