Mertens Prime Restaurant - Grand Rapids, MI
Grand Rapids, MI Kent County
West Michigan
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- RE: Mertens Prime Restaurant - Grand Rapids, MI
- Contact: Small Business
Quick Facts
| Asking Price: | $450,000 | |
| Annual Revenue: | $1,760,000 | |
| Net Profit: | Not Disclosed | |
| Cash Flow: | $133,238 | |
| Total Debt: | Not Disclosed | |
| FF&E: | $105,000 | |
| Real Estate: | Not Disclosed | |
| Year Established: | 2017 | |
| Employees: | 10 | |
| BBN Listing #: | 936606 | |
| Broker Reference #: | 844 |
Business Overview:
Mertens Prime Restaurant is comprised of three distinct restaurant spaces, all offering different culinary experiences. Situated in a historical building, the facility features many 100+ year old historical elements including beautifully tiled flooring and intricate woodwork, providing patrons with a memorable dining experience.
The business can be acquired for $450,000 and the assumption of a long-term, low interest rate EIDL loan. The EIDL loan offers much better terms than traditional acquisition financing methods.
The first restaurant boasts a fine dining menu, the second features a full-service rooftop, and the third is a charming café. In addition to its diverse culinary offerings, this establishment provides event-hosting, catering to both leisure and business clients.
Benefitting from its well-established presence, the business enjoys widespread recognition among locals, allowing it to generate significant revenue with minimal marketing efforts. The current owner’s strong desire to sell has created an attractive financial opportunity for a buyer.
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Property Features and Assets:
Historic building that features two dining rooms, small café area, large kitchen, and rooftop with a bar and small kitchen. Operator-controlled lease term through 2041. 6.5% of sales for rent, 1.5% for CAM or $7,200 whichever is greater.
Market Competition and Expansion:
Investment Highlights Include:
- Prime Location: Located in a busy downtown area.
- Diverse Dining in a Singular Location: The facility features three distinct restaurant venues.
- Well-Established in the Local Area: Popular amongst both locals and tourists.
Growth Opportunities:
- Reopen Café Space: Café space is currently closed due to the owner’s focus on other business ventures.
- Increase Marketing Efforts: Implementation of email and social media marketing.
- Reintroduce Brunch & Other Services: Currently inactive due to the owner’s focus on other business ventures.
Reason for Selling:
Ownership has been focusing on other business ventures since 2022.
Additional Details:
- The property is Leased.
- The owner is willing to train/assist the new owner.
- This is not homebased business opportunity.
- This is not a franchise resale opportunity
Documents:
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