1027 4th Avenue Lake Odessa, MI 48849

Active

$399,000

Market Estimate

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2,310 sq. ft.
0.12 Acres
Commercial
MLS# 70422421

Listing provided courtesy of: Amplified Real Estate - (269) 509-2254

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Property Details

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.

General Features
- Acreage 0.12
- Area Municipality Lake Odessa (34021)
- County Ionia
- Originating MLS Greater Regional Alliance of REALTORS
- Ownership LLC
- Total SqFt Finished 2310
- Waterfront Y/N No
- Year Built 1900
Building Features
- Exterior Construction Aluminum, Block, Brick, Concrete
- Foundation Type Basement
- Heating System Baseboard, Forced Air
- FUEL TYPE Electric,Natural Gas
- Roofing Other-See Remarks, Rubber
Property Features
- Water Public Water
- Lot Size 44x123
- Roads City/County, Paved Street
- Sewer Septic Public Sanitary

Neighborhood

Property History

Date	Event	Price	Percent Change
--	Current Price Source: Multiple Listing Service	New Value: $399,000
8/1/2024 11:40:00 PM	New in Database Source: Multiple Listing Service	New Value: $399,000

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* This payment calculator is intended for educational and planning purposes only.
** Assumes 6.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.

Information is provided in part by the IDX program of the Great Lakes Repository. All information provided is deemed reliable but is not guaranteed and should be independently verified.

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.