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
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Nick Schweihofer
Team Leader, Broker | License ID: 6506047709
Team Leader, Broker License ID: 6506047709
REVIEWS
- Nick did an awesome job in helping us find and purchase our condo. He listened to our wants and identified options and in the end we found a good fit for our needs for a vacation home Since we are far from Holland Nick set up a couple video tours to reduce travel. Thanks Nick for all the hard work and insight. We are very excited about our new home!Gordon L
- Nick was awesome to work with! I just went through the process of purchasing my first home and Nick couldn’t have made it any easier. He is super knowledgeable about the industry and the area. He answered all my questions and made sure to point out things I may not be thinking of since it was my first time going through the process. He was attentive, super responsive, easy to talk to, and truly cares about finding his clients a home they’ll love! I’m looking forward to working with him again in the future and would definitely recommend him as an agent!Emily Rzeszutko
- Nick was amazing to work with! This was my first time buying a house. Nick was very patient and took the time to walk me through everything and address all my questions. He was always quick to respond. He was clearly knowledgeable about the area and was great at pointing out and educating me on issues to watch for as we walked through houses. I absolutely recommend Nick to anyone buying or selling a home, and look forward to working with him again in the future!Kayla Kocal