Family Style Restaurant & Bar in Lake Community

Not Disclosed, MI
Oakland County

North Oakland County


Asking Price: Annual Revenue:
$299,000 $1,066,000

Food & Beverage: Restaurants, Fast Food, Deli


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RE: Family Style Restaurant & Bar in Lake Community Broker: Tanya Popov
Owner Financing is Available!
Seller financing is available to a well qualified buyer.

Quick Facts

Asking Price: $299,000
Annual Revenue: $1,066,000
Net Profit: Not Disclosed
Cash Flow: $80,000
Total Debt: Not Disclosed
FF&E: $125,000
Real Estate: Not Disclosed
Year Established: 1980
Employees: 32
BBN Listing #: 137828552
Broker Reference #: MI050919

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Business Overview:

Looking for established bar & restaurant operation? This charming restaurant is located in a rapidly growing beautiful downtown area of Oakland County Michigan and has been proudly providing exceptional service in the community for over 30 years. It is well known by the locals for their yummy breakfast menu, unique lunch and dinner choices as well as cozy bar area with live entertainment and laid-back historic atmosphere with a hometown vibe. Hundreds of 5-star reviews on Google, Tripadvisor and Yelp continue to bring new patrons every day.
Sales have been consistently exceeding $1mil for the last 3 years. The owner invested over $20,000 in brand new equipment in the last year. Sale includes Class C liquor license with limited availability in the local area valued at $80,000.
The owners had a great run and looking forward to retiring. This is an excellent opportunity for a new restaurateur to take over this turnkey successful establishment, which has been a pillar of the community for many years. This North Oakland County downtown area includes array of specialty retail stores, restaurants, parks, office buildings, and historic neighborhoods on the lakefront and is currently under heavy new development, including a residential condominium complex with retail spaces.
More information is available with signed Non-Disclosure. All buyers must show financial capability.

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Property Features and Assets:

Currently the business operates out of unique corner leased space with access from both streets connecting family style café section and bar lounge through the interior door. Restaurant occupies 3,000 sq ft space with small outdoor eating area plus full basement including complete prep area. Favorable lease terms until 2028 with first option to buy the building. Located in a cozy downtown area that is exploding with retail and residential development.

Market Competition and Expansion:

Although competition exists, the location is the key. Unique menu, exceptional service and comfortable atmosphere offered attract patrons, both local and new. Plenty of opportunities for growth including catering and entertainment as well as hosting events.

Reason for Selling:

Retirement

Additional Details:

  • The property is leased.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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