Restaurant with Concert
For Sale
$1,283,000
117133 117 - 133 E Allegan St, Otsego, MI 49078
Multi-use property with brewery operations, hospitality space, office areas, and indoor and outdoor event capacity.
Property Size7,148 SF
Price / SF$179.49
Days on Market46
Property Features for 117133 117 - 133 E Allegan St
General Information
Standard status
Active
Size
7,148 SF
Restaurant
Equipment Included
Yes
Liquor License
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Amenities
hospitality suite
office space
two stages
brewery
outdoor space
bathroom trailer
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 8
Changed: Oct 16
Last Checked: Oct 23 at 11:30AM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1950-built restaurant and entertainment property combines dining, brewing, and live-event facilities. The improvements include two stages, a hospitality suite, office space, three keg coolers, and 69 taps serving multiple locations. Interior seating accommodates more than 200 guests, while the outdoor area is designed for up to 1,200 people. The sale includes furniture, fixtures, equipment, a 16-stall bathroom trailer, and a Class C liquor license with four serving locations.
Located at 117133 117 - 133 E Allegan St in Otsego, Michigan, the property sits next to a city parking lot and benefits from additional parking lots and street parking. The configuration supports restaurant service, brewery operations, and indoor or outdoor concert programming within one commercial property.
Located at 117133 117 - 133 E Allegan St in Otsego, Michigan, the property sits next to a city parking lot and benefits from additional parking lots and street parking. The configuration supports restaurant service, brewery operations, and indoor or outdoor concert programming within one commercial property.
Key Highlights
- Two stages with indoor seating for more than 200 guests
- Outdoor event area accommodates 1,200 people
- 69 taps supplied by three keg coolers
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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Multi-use property with brewery operations, hospitality space, office areas, and indoor and outdoor event capacity.
Where is this conventional restaurant located?
The property is located at 117133 117 - 133 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: Two stages with indoor seating for more than 200 guests; Outdoor event area accommodates 1,200 people; 69 taps supplied by three keg coolers
