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Mertens Prime Restaurant In Grand Rapids For Sale

Grand Rapids, Michigan, US
Asking Price:
$450,000 Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$1,760,000
Cash Flow:
$133,238

Mertens Prime Restaurant is comprised of three distinct restaurant spaces, all offering different culinary experiences. Situated in a historical building, the facility features many 100+ year old historical elements including beautifully tiled flooring and intricate woodwork, providing patrons with a memorable dining experience.

The business can be acquired for $450,000 and the assumption of a long-term, low interest rate EIDL loan. The EIDL loan offers much better terms than traditional acquisition financing methods.

The first restaurant boasts a fine dining menu, the second features a full-service rooftop, and the third is a charming café. In addition to its diverse culinary offerings, this establishment provides event-hosting, catering to both leisure and business clients.

Benefitting from its well-established presence, the business enjoys widespread recognition among locals, allowing it to generate significant revenue with minimal marketing efforts. The current owner’s strong desire to sell has created an attractive financial opportunity for a buyer.

Thank you for reading this overview. The extent of the information that we are publicly permitted to reveal about this opportunity is contained in this overview. Please submit your contact information in the provided form. We have automated the processing of non-disclosure agreements (NDAs) and sending of information for speed and efficiency.

You will be sent a link to our online NDA. IF YOU DO NOT RECEIVE THE NDA LINK OR A FOLLOW-UP EMAIL AFTER YOU SUBMIT YOUR NDA, PLEASE CHECK YOUR JUNK MAIL. If the NDA email cannot be found, please email and request a PDF version.

Once we receive your NDA, the Confidential Business Review (CBR) will be sent to you will be sent to you from the advisor. They will be happy to correspond and answer your questions directly. Thank you for your time!

Property Information

Real Estate:

Lease

Lease Terms:

Operator-controlled lease term through 2041. 6.5% of sales for rent, 1.5% for CAM or $7,200 whichever is greater.

Location:

Grand Rapids, Michigan

Premises Details:

Historic building that features two dining rooms, small café area, large kitchen, and rooftop with a bar and small kitchen. Operator-controlled lease term through 2041. 6.5% of sales for rent, 1.5% for CAM or $7,200 whichever is greater.

Business Operation

Expansion Potential:

Growth Opportunities:
(1) Reopen Café Space: Café space is currently closed due to the owner’s focus on other business ventures.
(2) Increase Marketing Efforts: Implementation of email and social media marketing.
(3) Reintroduce Brunch & Other Services: Currently inactive due to the owner’s focus on other business ventures.

Competition / Market:

Investment Highlights Include:
(1) Prime Location: Located in a busy downtown area.
(2) Diverse Dining in a Singular Location: The facility features three distinct restaurant venues.
(3) Well-Established in the Local Area: Popular amongst both locals and tourists.

Reasons for selling:

Ownership has been focusing on other business ventures since 2022.

Employees:
10
Years established:
6

Other Information

Support & training:

Ownership is willing to provide reasonable and customary transition assistance.

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

Limited seller-financing is available for qualified buyers.

Furniture / Fixtures value:
$105,000 - included in the asking price
Inventory / Stock value:
$60,000 - included in the asking price
Distressed:
This business is a turnaround opportunity.