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$ 300,000
Est. payment | /mo
24,000 SqFt
$ 300,000
Est. payment | /mo
24,000 SqFt
Key Details
Property Type Commercial
Sub Type Business
Listing Status Active
Purchase Type For Sale
Square Footage 24,000 sqft
Price per Sqft $12
MLS Listing ID 20261026911
Year Built 1986
Lot Size 3.000 Acres
Acres 3.0
Property Sub-Type Business
Property Description
Business Overview
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 daily.
Key Highlights
Financials:
Gross Revenue: $740K
SDE / Cash Flow: $38,000
Total Operating Expenses: $432k(includes rent, wages, utilities, etc.)
SDE: The $38,000
Alcohol License: Full on-premise liquor license is included in the sale (very valuable in Oakland County).
*** Why This Business Stands Out ***
Prime location on Grand River Ave. with excellent visibility and parking
Low rent burden relative to sales (only 7.5%)
Fully equipped kitchen with all necessary hoods, grills, and equipment
Simple, proven menu focused on authentic Korean cuisine
Owner is willing to provide training and transition support
*** Ideal Buyer ***
Experienced restaurant operator or chef who wants to step into a ready-to-run business
Family team looking for a profitable owner-operator opportunity
Someone who can maintain or grow the current revenue with strong cost control
This 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: $300,000 (includes all equipment, inventory, and alcohol license)
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 daily.
Key Highlights
Financials:
Gross Revenue: $740K
SDE / Cash Flow: $38,000
Total Operating Expenses: $432k(includes rent, wages, utilities, etc.)
SDE: The $38,000
Alcohol License: Full on-premise liquor license is included in the sale (very valuable in Oakland County).
*** Why This Business Stands Out ***
Prime location on Grand River Ave. with excellent visibility and parking
Low rent burden relative to sales (only 7.5%)
Fully equipped kitchen with all necessary hoods, grills, and equipment
Simple, proven menu focused on authentic Korean cuisine
Owner is willing to provide training and transition support
*** Ideal Buyer ***
Experienced restaurant operator or chef who wants to step into a ready-to-run business
Family team looking for a profitable owner-operator opportunity
Someone who can maintain or grow the current revenue with strong cost control
This 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: $300,000 (includes all equipment, inventory, and alcohol license)
Location
State MI
County Oakland
Area Area02223Novi
Interior
Heating Forced Air, Natural Gas
Fireplace No
Exterior
View Y/N No
Garage false
Building
Foundation Slab
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Novi
Others
Senior Community false
Acceptable Financing Cash, Contract, Conventional
Listing Terms Cash, Contract, Conventional
Special Listing Condition ShortSaleNo, Standard
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Listed by Yoon Noh of Keller Williams Paint Creek