Motivated seller, please send your offer.This is a turnkey, fully equipped Korean restaurant in Novi, MI. The business has been operating successfully for years with a loyal local customer base and strong repeat business. The current owner works full-time in the kitchen as the head chef, preparing all dishes fresh… Read More daily.Key HighlightsFinancials:Gross Revenue: $740KSDE / Cash Flow: $38,000Total Operating Expenses: $432k(includes rent, wages, utilities, etc.)SDE: The $38,000 Alcohol License: Excluded*** Why This Business Stands Out ***Prime location on Grand River Ave. with excellent visibility and parkingLow rent burden relative to sales (only 7.5%)Fully equipped kitchen with all necessary hoods, grills, and equipmentSimple, proven menu focused on authentic Korean cuisineOwner is willing to provide training and transition support*** Ideal Buyer ***Experienced restaurant operator or chef who wants to step into a ready-to-run businessFamily team looking for a profitable owner-operator opportunitySomeone who can maintain or grow the current revenue with strong cost controlThis is a legitimate, straightforward business with clean books and no complicated franchises or royalties. The numbers are real and straight from the corporate tax return (Form 1120). Serious buyers only - proof of funds required. Asking Price: $170,000 -- The data in this list has been compiled with the best efforts, but the buyer should verify all information independently. Read Less
Provided through IDX through Realcomp II Ltd. Courtesy of Keller Williams Paint Creek.
Listing Snapshot
Days Online
87
Last Updated
Property Type
Commercial
Square Ft.
24,000
Lot Size
3 Acres
Year Built
1986
MLS Number
20261026911
30 Days Snapshot Of 48375
$411k
-13%
(avg) sold price
45
+28%
homes sold
52
-13%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Class A
Building
Built in 1986, 24,000 total square feet, 24,000 main square feet, 3,000 office square feet, Brick
Foundation
Slab
Water Features
Public (Municipal)
Heating
Natural Gas
Lot
Lot size area: 3.00, Lot size dimensions: 369x360
Miscellaneous
Gross scheduled income: $730,000, Net operating income: $38,000, Operating expense: $432,000, Carry-Out, Liquor, Business Opportunity
Property
Property type: Commercial, Commercial
Taxes
Tax amount (summer): $0, Tax amount (winter): $0
Sewer
Sewer (Sewer-Sanitary)
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