1027 4th Avenue, Lake Odessa, MI 48849
$368,000.00 - Sold
Amplified Real Estate
269-509-2254
269-509-2254
- MLS#: 24039972
- Total Bldgs: 2
- Fin Bldg Lvls: 1
- Type: Retail
- School District: Lakewood
- County: Ionia
- Taxing Authority: Lake Odessa Vllg
- Year Built: 1900
- Year Remodeled:
- Below Grade: Basement,Full
- Exterior: Aluminum Siding,Brick
- Driveway: Gravel
- Parking: 0
- Air:
- Bldg Sq Ft: 0
- Office Sq Ft: 0
- Retail Sq Ft: 0
- Warehouse Sq Ft: 0
- Other Sq Ft: 0
- Street Type: Paved,Public
- Road Frontage: 44
- Heat: Baseboard,Forced Air/Electric,Natural Gas
- Water: Public Water4
- Sewer: Public Sewer5
- Roofing: Rubber,Other23
- Docks: 0
- Doors: 0
- Ceiling Height: 0
Legal: VILLAGE OF LAKE ODESSA BLOCK 8 LOT 8 ODESSA TWP, IONIA COUNTY, MICHIGAN
- Taxable Value: 51,660
- SEV: 54,900
- For Tax Year: 2024
- Annual Property Tax: 0
- Tax Year: 2023
- Homestead %: 0
- Spec Assmt/Tyle: none
- Zoning: C
- Tax ID: 101-200-000-355-01
- Lot Size: 44x123
- Acreage: .12
- New Construction: No
- Construction Type: Block,Concrete
- Construction Status:
- Addtl Features:
- Uses: Restaurant
- Util Available: Broadband
- Util Attached: Electricity Connected,Natural Gas Connected,Telephone
- Current Use: Restaurant
- Terms: Assumable, Cash, Conventional
- Original Price: 399,000.00
- Directions: M-50 to 4th Ave, North on 4th Ave
- 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.
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