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    Turn-Key Concert Venue & Restaurant

    117 - 133 E Allegan Street Otsego, MI 49078

    117 - 133 E Allegan Street, Otsego, MI, 49078
    $1,283,000
    For Sale
    Claim this Listing
    $1,283,000

    COMMERCIAL - Otsego, MI

    Property Size7,148 SF
    Lot Size0.05 Acres
    Price / SF$179.49
    AddedDec 3, 2025
    Days on Market225
    Last RefreshJul 16 at 9:06 am

    Property Features for 117 - 133 E Allegan Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Bathrooms
    7
    Rooms
    Bathroom 4, Bathroom 5, Bathroom 7, Bathroom 3, Bathroom 2, Bathroom 6, Bathroom 1
    Standard status
    Active
    APN
    54-100-048-20
    Size
    7,148 SF
    Lot size
    0.05 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    per title commitment
    Tax Annual Amount
    10807

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1950
    Floors in Building
    1
    Number of units
    5
    Building materials
    Brick

    Listing agent Joanne K Becker License #6502342093

    Listing office Chuck Jaqua, REALTOR 414 W Milham Road, Portage, MI

    Listing date Dec 3, 2025

    MLS# 25061874

    Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Investment Insights

    Based on property information with market context.

    This turn-key commercial property in Otsego, Michigan, presents a unique opportunity as a concert venue and restaurant. The sale includes the real estate, FF&E, a 16-stall bathroom trailer, a brewery, and a Class C liquor license with four serving locations, along with a large hospitality suite and office space. Formerly Maudes Tap House and the Liquid Note, the property features two stages and a restaurant with 69 taps served from three keg coolers. The Liquid Note also operates its own brewery, serving its beers at all locations. These well-maintained storefront properties combine historical character, prime location, and substantial capacity. With interior seating for over 200 guests between Maude's and Liquid Note, and an outdoor space accommodating 1200 people, the venue is designed for high-volume entertainment. The property is adjacent to a city parking lot, other parking lots, and street parking. The property size is 7,148 square feet on a lot of approximately 0.05 acres. This property is ready for its next chapter.

    Key Highlights

    • Turn‑key concert venue and restaurant with a Class C Liquor License and brewery included.
    • High‑capacity entertainment space: 200+ indoor seating and 1200 outdoor capacity.
    • Includes Real Estate, FF&E, and a 16‑stall Bathroom Trailer.

    Local Financial Insights For Specialty Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $110.7k $15.48
    − Vacancy −$4.6k −$0.65
    EGI $106.0k $14.83
    − OpEx −$26.5k −$3.71
    NOI $79.5k $11.12
    7,148 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $1.14M
    $993.8K – $1.33M (±1% cap)
    NOI $79,503 @ 7.0% cap · market cap 6.20%
    Second Best
    Retail
    $1.06M
    $927.5K – $1.24M (±1% cap)
    NOI $74,203 @ 7.0% cap · market cap 5.78%
    Theoretical Best
    Hotel Hospitality
    $67.13M
    $58.74M – $78.31M (±1% cap)
    NOI $4,698,897 @ 7.0% cap · market cap 366.24%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Maude’s Taphouse Bar & Pub

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office HVAC Service Auto Repair Shop Hair Salon Nail Salon Kitchen & Bath Showroom Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Turn key restaurant - Otsego concert venue and restaurant with brewery and liquor license.
    Where is this turn key restaurant located?
    The property is located at 117 - 133 E Allegan Street Otsego, MI.
    What is the asking price?
    The asking price for this property is $1,283,000.
    What are key features of this property?
    This property features: Turn‑key concert venue and restaurant with a Class C Liquor License and brewery included.; High‑capacity entertainment space: **200+ indoor seating and 1200 outdoor capacity.**; Includes Real Estate, FF&E, and a 16‑stall Bathroom Trailer.
    Contact an agent
    (269) 217-9878
    We can help!
    Contact an agent
    Joanne K Becker
    Joanne K Becker
    Real Estate License ID: 6502342093
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