$300,000
Grand Rapids, MI 49503
MLS# 23144062
6870 sqft
1 / 4
Property Description
Great upscale dining opportunity to enter the GR's eatery/entertainment district near VanAndel Arena, Grand Rapids Brewery, and Hop Cat. Divani has been a leading restaurant & event facility in the heart of Downtown Grand Rapids since its inception in 2002. Our prime location at 15 Ionia Ave SW provides constant foot traffic full of local residents and tourists alike. We have a well-established reputation for providing unique dining experiences through our passion for innovation, and engagement with our guests which builds meaningful relationships. This culture is the foundation that nourishes our abundant loyal customer base. The current owner desires to ensure Divani's continued success & ability to flourish therefore is happy to provide reasonable transition assistance.
Details
Maps
Documents
Location & Property Info
County: Kent
Street #: 15
Street Name: Ionia
Suffix: Avenue
Unit #: 130
Post Direction: SW
State: MI
Zip Code: 49503
Zip (4): 4155
Cross Streets: W Fulton St & Ionia Ave SW
Property Sub-Type: Business Opportunity
Area: Grand Rapids - G
Municipality: City of Grand Rapids
Ownership Type: Private Owned
Office/Contract Info
Status: Active
Current Price: $300,000
List Price: $300,000
Auction or For Sale: For Sale
List Price/SqFt: 43.67
Prop Avail for Lease?: No
Sub Agency Type: %
Buyer Agency: 3
Buyer Agency Type: %
Trans Coord Type: %
Listing Date: 2023-12-01
Current Bldg Use: Restaurant and Cocktail Lounge
General Property Info
New Construction: No
Lot Measurement: Acres
Lot Acres: 0.31
Lot Square Footage: 13286
Lot Dimensions: 35X100
Year Built: 1886
Road Frontage: 35
Mineral Rights: Unknown
Total # Units: 1
# Fin Bldg Lvls: 76200
Total # Bldgs: 1
Total SqFt: 6870
Property Use Type: Business
Full Baths: 3
Waterfront: No
School District: Grand Rapids
Tax Info
Tax ID #: 41-13-25-428-004
Taxable Value: 3251979
SEV: 3929700
For Tax Year: 2022
Annual Property Tax: 1
Tax Year: 2022
Spec Assessment & Type: Unknown
Zoning: Commercial
Remarks & Misc
Legal: Lengthy Legal
Directions: West on W Fulton St, South on Ionia Ave SW. Downtown GR, across from Van Andel Arena, on the corner next to Grand Rapids Brewing Co and HopCat.
Additional Details
Passenger Elevators: 1
Business Opportunity
# Full Time Employees: 11
Business Description: Restaurant
Business Name: Divani
Gross Sales 1 Year ($): 946000
Property Features
Property Use: Business
Uses: Bar/Tavern/Lounge; Restaurant
Ownership: LLC
Business Includes: Equipment; Furniture; Licenses; Other
Construction Type: Concrete
Exterior Material: Brick
Roofing: Rubber
Foundation: Concrete Perimeter
Below Grade: Basement
Additional Features: Barrier Free
Tenant Pays All: Electric; Gas; Sewer; Trash; Water
Sewer: Public
Water: Public
Utilities Attached: Electric; Natural Gas; Telephone
Util Avail at St: Cable; Electric; Natural Gas; Public Sewer; Public Water; Storm Sewer; Telephone
Heat Source: Natural Gas
Heat Type: Radiant
Street Type: Paved; Public
Purchase Terms Avail: Cash; Conventional; Other
Docs at List Office: Other
Docs Req Conf Agrmnt: Financials; Leases
Sale Conditions: None
Send to Econ Dev Org: MEDC; SWMI First, Region 5
Supplements
Property Details:
Leased: Landlords - FW Shoring, LLC
Property Management - PURE Real Estate Management
Total Square Footage: 6870
Main Floor - Restaurant: 2395 sf with 13' ceilings
Event Space: 2487 sf with 13' ceilings
Lower Level - Kitchen, Of ice & Storage: 1988 sf
Fire Code/Seating Capacities: Restaurant 145/120 Event Space 170/ 120
Expansion and Growth Opportunites:
Corporate and private catering, expanding restaurant hours of operation, Sunday brunch, guest loyalty program, retail wine sales/club program, hosting ticketed wine or cocktail dinners.
A new owner with a passion for welcoming guests as family in their home will continue to prosper! Highlights include:
-Fully equipped,turn-key restaurant & event facility
-Well established & profitable casual fine dining restaurant & event facility with an intimate atmosphere
-Eleven employees
-Loyal customer base in both the restaurant & event space
-Numerous awards & accolades: OpenTable Diner's Choice Awards,
Wine Spectator's Award of Excellence, Tripadvisor, Grand Rapids
Magazine, Revue Magazine, and more...
-Email list of 3.6kwith a 40-45% open rate
-Social Media following over 9.7k
Dinner Menu 2023 
Listing Office: Keller Williams GR East
Listing Agent: Jason Carpenter
Last Updated: December - 06 - 2023
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