Restaurant For Sale With Banquet Hall High Visibility Location

Business Overview:

An exceptional opportunity awaits in the heart of downtown Oak Park, Michigan. After 16 successful years in the same high-visibility location, this well-known Mediterranean Restaurant for Sale is relocating to a new standalone building, creating a rare chance to take over a fully built-out, turnkey space with a long history of strong performance.
This expansive 5,800 square foot Restaurant for Sale has been meticulously maintained and features an impressive, high-end buildout throughout. The kitchen is fully equipped with top-quality equipment, all in outstanding condition, allowing for seamless continued operation without the need for major upgrades. The spacious dining area is beautifully finished with upscale tile work and modern design elements, creating an inviting and polished atmosphere ideal for both everyday dining and large gatherings. Due to the sheer size and layout of the dining space, the restaurant also functions exceptionally well as a banquet hall, making it perfect for hosting private parties, celebrations, corporate events, and group dining experiences. The space also includes a full bar and comes with a highly desirable Class C liquor license.
Historically, this Restaurant for Sale location has been a top performer, consistently generating approximately $180,000 per month prior to the temporary closure of the nearby I-696 expressway last year. Despite this disruption, the business has remained resilient, still producing around $120,000 per month. With the expressway scheduled to reopen this fall, sales are projected to rebound to previous levels, offering strong upside potential. Call We Sell Restaurants today to schedule your tour!
The lease is very affordable for a space of this size, quality, and prime location, making it an attractive option for experienced operators or new concepts. The new owner of this Restaurant for Sale could rename this restaurant/banquet hall and continue the Mediterranean concept seemlessly and have a thriving restaurant on day 1. However, the versatile layout and premium buildout allow it to be easily repurposed as a coney island, or transformed into a thriving sports bar or even a high-energy nightclub concept. This is a rare, move-in-ready opportunity with immediate income potential and strong future growth..
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Property Features and Assets:

(12) 6' Tables
(20) 4' Tables
(152) Chairs
(12) 4' Stone Booth Tables
(4) TV's in Dining Area
(1) 4' x 4' Glass Front Dessert Case with refrigeration
(1) Dough Pro Bread Machine
(1) 5' Pop Cooler with Glass Door
(1) Vantco Tea/Coffee Warmer 2 Station
(1) 3 Pot Bunn Coffee Warmer
(1) 2 Pot Bunn Coffee Warmer
(1) 6 Dispenser Fountain Pop with Ice Cooler below
(1) 6' x 3' Beer Cooler with Glass Front
(1) Juice Squeezer
(1) Bend Tec Blender
(1) 2' x 3' Frig in Bar Area
(3) 12' Hoods
(1) 10 Top Oven
(1) 6 Top Oven
(1) Royal Oven
(2) Meat Rotisserie
(3) 3' Grill
(2) 2 Basket Fryers
(1) 6' x 2' Frig with Single Door
(1) 6' x 4' Freezer
(1) 4' 8 Chafing Station Soup Prep Station
(2) 4' Stainless Steel Tables
(1) 7' Prep Station with 3 Door Refrig Underneath
(1) 6' Stainless Steel Wash Station
(1) 6' x 4' 2 Door Coke Cooler
(1) 8' 3 Tub Stainless Steel in Dish Wash Area
(1) Dishwasher + Disposal + 4' Stainless Steel Table
(1) Pro Cut Meat Grinder
(1) Meat Slicer
(1) Meat Tenderizer
(1) Somerset Bread/Dough Flattener
(1) Hobart Industrial Mixer
(1) 8' Stainless Steel 2 Tube Sink
(1) 10' x 12' Walk In Cooler
(1) 10' x 12' Walk in Freezer
(1) 3' x 5' Ice Machine
Office with Furniture
(17) 4' x 8' Stainless Steel Racks with 3 Shelves
(8) Chandeliers

Market Competition and Expansion:

* Competitive Advantage with Proven Sales History: Generating approximately $1.5M in annual revenue?even during the disruption of Interstate 696 construction?demonstrates strong market demand and brand-independent location strength. With the freeway reopening, a new operator is well-positioned to outperform nearby competitors and recapture even higher sales volumes.

* Built-In Edge for Events & Group Dining: Unlike many competing restaurants, this location offers a large banquet-style dining space, creating a significant competitive advantage for private events, parties, and corporate gatherings. Its proximity to Oak Park City Hall, as well as local police and fire departments, provides a steady pipeline of potential repeat business that most competitors cannot easily replicate.

* Superior Infrastructure for High-Volume Operations: The oversized, fully equipped kitchen allows for efficient, high-capacity food production?giving an operational advantage over smaller or less-equipped competitors. This makes it easier to handle dine-in traffic, large parties, and catering simultaneously, maximizing revenue potential.

* Flexibility to Outcompete Multiple Segments: The space can be repositioned into a coney island, sports bar, or even a nightclub, allowing an operator to strategically target underserved or high-demand segments in the area. This adaptability provides a key edge over single-concept competitors who cannot pivot as easily to meet changing market demand.

Reason for Selling:

Relocation. Kindly ask the seller for more information.

Additional Details:

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