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Lakefront Bar and Grille with Real Estate

Lake City, MI (Missaukee County)

Lakefront Bar and Grille with Real Estate
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Asking Price: $375,000

Cash Flow: $90,000

Gross Revenue: $600,000

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Real Estate: N/A

Established: N/A

Lakefront Bar and Grille with Real Estate

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Business Description

Located on one of the best fishing lakes in the lower peninsula, serving year round residents as well as four season tourists. Drive your boat right up to the docks adjacent to the building, tie up, fill up your coolers with beer, wine and ice then zip away back to water tubing, fishing, relaxing … or, sit down to a terrific lunch or dinner.

After a very successful run, relocation became necessary due to a ‘pre-existing illness’ to owners’ son. Wife had to keep her job to continue with health insurance coverage which could cost over $20,000 in a single month. As a result, the place is run on an absentee basis.

Located on a busy major highway (12,000 vehicles per day), in a stand-alone attractive building just steps away from an 1,800 acre pristine inland lake. This restaurant is a mainstay for both locals and the constant year-long influx of tourists to this very desirable, affluent resort community. The busy summer season transitions into fall color tourism and then to winter sports lovers, so no slow-down between seasons. Outdoor seating on the patio provides incredible panoramic views of the lake and sunset vistas. Best of all the real estate comes with the deal! A new owner could use the largely under-utilized upper level for an onsite residence, or easily convert it to a spacious rental apartment for additional, passive income.

The average past 3 year, annual revenue is $600,000 with a Seller’s Discretionary Earnings of $100,000 . (Used to be $750 with owner present) Replacing one or two of the 4 managers with a working owner could drive that already impressive amount significantly higher. The $360,000 asking price is firm for both business and real estate makes this a fantastic opportunity for anyone seeking to be a part of the Michigan tourism industry. Location sits next to the last commercial parcel on the lake. They are asking over $500K. For detailed information contact Ken George 616.648.1132 kg@vbamidwest.com

Detailed Information

Location:
Lake City, MI
Real Estate:
Owned
Included in asking price
Building SF:
N/A
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Ken George

Business Listed By:
Ken George

Vanguard Business Brokers

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