Turnkey Restaurant with Apartment

Retail-Commercial for Sale
Catylist Listing ID: 30348144
Property Subtypes: Restaurant
Building Size (RSF): 3,239 SF
Gross Building Area: See Agent
Sale Price: $295,000
Unit Price: $91.08 PSF
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/7/2019

Overview / Comments

Massive Price Reduction! Bankruptcy Court wants sold ASAP!. Turn key restaurant in the City of Otsego, Michigan. This restaurant features 68 seats including 10 at the bar which features draft system with 18 taps. Plenty of cold storage with walk-in and reach-in coolers and freezers. Additional cash flow potential with almost finished upstairs two bedroom apartment. This building was nearly rebuilt from the ground up. New mechanical, foundation support, firewall drywall, and so much more. To operate, buy a dishwashing machine, a POS system and inventory and you are open for business. Sale subject to bankruptcy court approval and is being sold as-is where is.

Additional Details

Nearest MSA: Holland
County: Allegan
Taxing Authority: City of Otsego
Tax ID/APN: 54-100-017-00
Zoning: CENTRAL BUSINESS DISTRICT
Retail Clientele: General, Family, Business
Property Visibility: Good
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 2,000 SF
Property Condition: Excellent
Year Built: 1885
Year Renovated: 2017
Roof Type: Flat
Construction/Siding: Brick/Vinyl Siding
Exterior Description: Brick Facade with vinyl siding
Parking Type: Other
Parking Description: municipal lots nearby offer ample parking.
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Interior Description: completely refurbished restaurant in excellent condition.
Zoning Description: Commercial Central Business District
Easements: Ingress/Egress

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,748 14,468 19,560
Median Age: 35.21 38.51 39.66
Households: 690 5,705 7,672
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