1027 4th Avenue $399,000

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    1027 4th Avenue Lake Odessa, MI 48849

    • 2,310 sq. ft.
    • 0.12 Acres
    • Commercial
    • MLS# 24039972
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    Views: 11 Days On Site: 112

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    Property Details

    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.

    • General Features
      • Year Built 1900
      • New Construction Y/N false
      • Business Type Restaurant
      • County Or Parish Ionia
      • Property Sub Type Retail/Commercial
      • Tax Annual Amount 2883.68
    • Building Features
      • Foundation Details Stone
      • Construction Materials Aluminum Siding, Brick
      • Building Area Total 2310.0
      • Roof Rubber
      • Number Of Units Total 2
      • Heating Baseboard, Forced Air
      • Full Bathrooms 2
      • Bathrooms 2
    • Property Features
      • Lot Size Acres 0.12
      • Lot Size Area 0.12
      • Number Of Buildings 2
      • Utilities Broadband
      • Water Source Public
      • Waterfront Y/N false
    • Schools
      • High School District Lakewood

    Neighborhood

    48849 (Lake Odessa) Demographics

    37 Median Age
    71 Population Density (per sq. mile)
    26% College Educated
    $65,413 Estimated Median Income
    1,751 Estimated Total Home Owners
    506 Estimated Total Renters
    78% / 22% Estimated Owner / Renter Divide
    3 Estimated Average Household Size
    5,990 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $196,000 Median Sales Price
    10 Homes Sold
    3 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $399,000
        8/1/2024 11:14:00 PM New in Database Source: Multiple Listing Service New Value: $399,000

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        Information Deemed Reliable But Not Guaranteed. The firm operating this website does not display the entire MLS (or MichRIC) Broker Reciprocity database on this web site. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. Updated on 11/21/2024 11:14:55 AM PST. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.


        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.