Upscale Trendy Family Diner for Sale- Turn Key

Retail-Commercial for Sale
Catylist Listing ID: 30294442
Property Subtypes: Restaurant
Building Size (RSF): 2,800 SF
Gross Building Area: See Agent
Sale Price: $250,000
Unit Price: $89.29 PSF
Property Use Type: Investment, Business
Sale Terms: Undisclosed, Cash to Seller, Purchase Money Mortgage, Owner Financing, Sale/Leaseback
Last Updated: 6/27/2018

Overview / Comments

Well established diner located on a high traffic road in Temperance, MI. This business is the anchor in a newer built retail strip, and has upgraded construction throughout. Counter tops and table tops are granite, chairs and booth are premium brand, and all of the equipment is owned, well maintained and in great condition. The interior features a 32 person banquet room, as well as a catering van that can be included in the sale. There is a premium POS system that allows adaptive online ordering, and is included in the sale. Only one other diner in the area that is similar, and the positive cash flow and NOI are very good. The lease is below market value per square foot, and is a gross modified (no NNN), so any potential lessees will be taking over a very competitive lease rate for the area. Lease is until 2025 with options. Lewis Ave. sees 20,000 cars daily according to MDOT. Seller will provide 2 months hands on training and Support for up to 6 months. This is a turn key business, ready for you to run from the day you take possession.

Additional Details

Nearest MSA: Monroe
County: Monroe
Submarket/Township: Monroe County
Tax ID/APN: 02 817 044 00
Zoning: C1
Retail Clientele: General, Family, Business, Recreation, Other
Property Located Between: Located between Stern Rd. and Smith Rd. on Lewis Ave.
Largest Nearby Street: Smith Rd.
Feet of Frontage: 600
Traffic/Vehicle Count: 20,000
Highway Access: US-23 within 7 miles, 1-75 within 6 miles, US-24 within 3 miles
Site Description: C1 zoned, 12 unit retail strip
Area Description: Well maintained area, with other commercial properties in the area, with many new sub divisions and established residential neighborhoods in the outlying area. Bedford Twp is the largest township in Monroe County, (population) and is considered the largest suburb of Toledo, OH.
Tenancy: Single Tenant
Property Condition: Excellent
Year Built: 2008
Year Renovated: 2014
Construction/Siding: Brick
Total Parking Spaces: 14
Parking Ratio: 5 (per 1000 SF)
Parking Type: Surface
Interior Description: Remodeled in 2014. Granite counter tops, new ceramic, new Egyptian tile, premium tables and chairs, high end kitchen equipment.
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,402 66,935 181,987
Median Age: 40.65 38.18 38.02
Households: 3,516 27,482 74,235

Contact

Photograph of Listing Agent

Greg Moore

ISR Group CPIX Member
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