884 S State St Oscoda, MI 48750

1.62 ac lot

Entity Owned 6-yr Hold Free & Clear

Property ID

US43-3144845

$650,000

884 S State St, Oscoda, MI 48750
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This exceptional turnkey restaurant opportunity in Oscoda, Michigan, presents a rare chance to acquire a well-established, profitable business. Located at 884 S State St, this 4,100 square foot Class A restaurant boasts a prime location with significant road frontage on US 23, offering excellent visibility and accessibility. The property sits on a 1.25-acre lot providing ample parking for 150 vehicles. Built in 1960 and extensively renovated in 2013, the property includes two buildings and features updated amenities such as a new roof, on-demand water heater, HVAC system, bathrooms, and electrical work. The restaurant enjoys a 100% occupancy rate as of June 19, 2023, generating a strong NOI of $150,000 and a 15.79% cap rate. With a seating capacity of 120 and a dedicated staff of 18 employees (owner will provide 60 days of paid training), this business is ready for immediate operation. The asking price is $950,000 ($231.71/sq ft). The property's strategic location near the Au Sable River, Lake Huron, marina, beaches, boat ramp, airport, condos, harbor, farmer's market, Au Sable Shoreline Park, hotels, campgrounds, and canoe rentals ensures a consistent flow of both local and tourist clientele. Included in the sale is approximately $10,000 worth of food inventory and all existing restaurant equipment. The property is zoned commercial and has a permitted zoning designation. This is a truly remarkable opportunity to own a thriving restaurant in a desirable location.