Concert Venue with
For Sale
$1,283,000
117 E Allegan St, Otsego, MI 49078
Two-stage entertainment property with brewery operations, hospitality space, and multiple service locations.
Property Size7,148 SF
Price / SF$179.49
Days on Market51
Property Features for 117 E Allegan St
General Information
Standard status
Active
Size
7,148 SF
Building Details
Year Built
1950
Listing Agency:
Chuck Jaqua, REALTOR
Listed By:
Joanne K Becker · License #6502342093
(269) 217-9878
Source:
Katie-k
Added: Sep 15
Changed: Oct 26
Last Checked: Nov 3 at 12:33PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Chuck Jaqua, REALTOR
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Investment Insights
Based on property information with market context.
Located at 117 E Allegan St in Otsego, Michigan, this 7,148-square-foot entertainment property was built in 1950 and combines a concert venue, restaurant, and brewery. The improvements include two stages, a hospitality suite, office space, three keg coolers supporting 69 taps, and seating for more than 200 guests across Maude’s and Liquid Note. The sale includes real estate, FF&E, a 16-stall bathroom trailer, and a Class C Liquor License with four serving locations.
The property also accommodates outdoor events for up to 1,200 people. Parking is available through an adjacent city lot, additional parking lots, and street parking. The property’s operating components include brewery service at all locations and restaurant and entertainment facilities configured for substantial guest capacity.
The property also accommodates outdoor events for up to 1,200 people. Parking is available through an adjacent city lot, additional parking lots, and street parking. The property’s operating components include brewery service at all locations and restaurant and entertainment facilities configured for substantial guest capacity.
Key Highlights
- 7,148 SF entertainment property at 117 E Allegan St, Otsego, MI 49078
- Two stages with indoor seating for over 200 guests
- Outdoor event capacity for 1,200 people
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,503
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,590,060
$1.6M
Cap Rate 7%
$1,135,757
$1.1M
Cap Rate 9%
$883,367
$883.4K
Market Conditions
NOI Build-Up for 7,148 SF
Gross rent
$110.7K $15.48/SF
− Vacancy
−$4.6K −$0.65/SF
EGI
$106.0K $14.83/SF
− OpEx
−$26.5K −$3.71/SF
NOI
$79.5K $11.12/SF
Area
Allegan County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,590,060
Cap Rate 7%
$1,135,757
Cap Rate 9%
$883,367
Alternative Uses
Best Use
Specialty Retail
$1.14M
$993.8K – $1.33M
NOI $79,503 @ 7.0% cap · market cap 6.20%
Second Best
Industrial
$477.5K
$417.8K – $557.1K
NOI $33,426 @ 7.0% cap · market cap 2.61%
Theoretical Best
Hotel Hospitality
$67.13M
$58.74M – $78.31M
NOI $4,698,897 @ 7.0% cap · market cap 366.24%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
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Business Placement
Demographics for 49078, MI
9,483
Population
4,315
Households
2.2
Avg Household Size
41
Median Age
19%
College-Educated
92%
High-School Grad
49.5 sq mi
ZIP Area
192
Density / Sq Mi
$77,517
Median Household Income
$44,956
Median Earnings
$1,106
Median Rent
$189,600
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Theater & concert hall - Two-stage entertainment property with brewery operations, hospitality space, and multiple service locations.
Where is this theater & concert hall located?
The property is located at 117 E Allegan St 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: 7,148 SF entertainment property at 117 E Allegan St, Otsego, MI 49078; Two stages with indoor seating for over 200 guests; Outdoor event capacity for 1,200 people
