Equipped Nightclub and Sports
For Sale
$800,000
2662 Division Avenue S, Grand Rapids, MI 49507
Commercial Sale, Grand Rapids, MI
Property Size3,506 SF
Lot Size0.10 Acres
Price / SF$228.18
Days on Market732
Property Features for 2662 Division Avenue S
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Elementary school district
Grand Rapids
Middle school district
Grand Rapids
High school district
Grand Rapids
Directions
Accessible form HWY 131 exit 28th st. Head east towards Division. As you turn North on Division, the restaurant will be shortly after. Parking and entrance is on the rear.
Subdivision
Grand Rapids - G
Standard status
Active
APN
41-18-07-353-001
Size
3,506 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
E 103 FT OF LOT 148* JENESEN ADDITION
Tax Annual Amount
4841
Legal Description
E 103 FT OF LOT 148* JENESEN ADDITION
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1946
Number of units
1
Listing Agency:
1st Advantage Realty
(616) 534-4480
Listed By:
Rene Guzman · License #6501383944
(616) 260-8670
Added: Sep 13, 2024
Changed: Sep 12
Last Checked: Sep 14 at 12:06PM
MLS# 24048554
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 3,506-square-foot nightclub and sports bar occupies a building constructed in 1946. The venue includes indoor dining, a full-service bar, and two bathrooms, along with music and lighting systems designed for an entertainment setting. A Class C liquor license is included, and the property is equipped with forced-air heating and central air conditioning.
Located in Grand Rapids, Michigan, the property sits on a 0.1-acre parcel at 2662 Division Avenue S. Natural gas is available. The existing configuration combines hospitality and nightlife components within a single commercial venue.
Located in Grand Rapids, Michigan, the property sits on a 0.1-acre parcel at 2662 Division Avenue S. Natural gas is available. The existing configuration combines hospitality and nightlife components within a single commercial venue.
Key Highlights
- 3,506‑square‑foot nightclub and sports bar
- Class C liquor license included
- Full‑service bar with indoor dining area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$56,955
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,139,100
$1.1M
Cap Rate 7%
$813,643
$813.6K
Cap Rate 9%
$632,833
$632.8K
Market Conditions
NOI Build-Up for 3,506 SF
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.
Gross rent
$79.9K $22.80/SF
− Vacancy
−$4.0K −$1.14/SF
EGI
$75.9K $21.66/SF
− OpEx
−$19.0K −$5.42/SF
NOI
$57.0K $16.25/SF
Area
Grand Rapids, MI
Vacancy
5.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,139,100
Cap Rate 7%
$813,643
Cap Rate 9%
$632,833
Alternative Uses
Best Use
Specialty Retail
$813.6K
$711.9K – $949.3K
NOI $56,955 @ 7.0% cap · market cap 7.12%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
489
Businesses Nearby
18k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Dining 17%
Hotels & Casinos 12%
Marathon
Shops & Services
7,867 visits/mo
0.3 miles
PNC Bank
Shops & Services
4,193 visits/mo
0.3 miles
Pizza Hut
Dining
3,051 visits/mo
0.2 miles
Best Western Executive Inn & Suites
Hotels & Casinos
1,458 visits/mo
0.2 miles
QUALITY INN
Hotels & Casinos
662 visits/mo
0.1 miles
Demographics for 49507, MI
38,137
Population
13,773
Households
2.8
Avg Household Size
30
Median Age
27%
College-Educated
78%
High-School Grad
5.5 sq mi
ZIP Area
6,934
Density / Sq Mi
$56,578
Median Household Income
$34,939
Median Earnings
$1,114
Median Rent
$179,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Similar Off Market Nearby
- Pitayas Postres & Botanas — 2850 Division Ave S, Grand Rapids, MI 49548
- Le Petit Chateau Sport Bar And Restaurant — 2662 Division Ave S, Grand Rapids, MI 49507
- Paragon Bowling Center and Sports Bar — 2425 Division Ave S, Grand Rapids, MI 49507
- Log Cabin — 2401 Division Ave S, Grand Rapids, MI 49507
- Horton Hole in the Wall — 2430 Horton Ave SE, Grand Rapids, MI 49507
Frequently Asked Questions
What type of property is this?
Night club - Established entertainment venue with indoor dining, full-service bar, professional lighting, and music systems.
Where is this night club located?
The property is located at 2662 Division Avenue S Grand Rapids, MI.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 3,506‑square‑foot nightclub and sports bar; Class C liquor license included; Full‑service bar with indoor dining area
