Wyandotte businessman Mark Hayes, 41, recently made an offer on the former A&W property in Downtown Trenton, but the offer was rejected.
While he would not disclose the offer amount, Hayes said he offered the property owner more than $55,000, which is the price for which the owners paid for the property in 2009.
"I made them a very lucrative, cash offer," Hayes said. "I was willing to close in two weeks and they rejected it."
Hayes said the offer was rejected despite Trenton city officials' best efforts.
"The City of Trenton was more than willing to work with me," Hayes said. "They want to see someone in that spot."
Hayes, a regional manger for a cigar company and part-owner of Dotte Pub in Wyandotte, planned to turn the former restaurant into a Bearclaw Coffee Co. and Calder's Ice Cream location—both Michigan businesses.
Hayes said he was unwilling to pay the asking price of $95,000, or an $80,000 counter offer made by the property owners during negotiations, because the parking lot requires a significant amount of work.
The parking lot has improper drainage and would need to be completely redone, which could cost as much as $36,000, according to Hayes.
He added there was also standing water in the basement when he walked through the property about three weeks ago. The Realtor, Signature Associates, informed Hayes the water issue had been resolved at the time of sale.
Hayes said the deal is dead, for now.
"I'm not going to go any higher on the price because of the work I'd have to put into it," Hayes said.