Turnkey Tavern and
403 N 17th Street Gladstone, MI 49837
For Sale
$185,000
Fully operational bar and restaurant with updated kitchen, built-in bar amenities, and included liquor license for new ownership.
Property Size1,212 SF
Price / SF$152.64
Days on Market648
Property Features for 403 N 17th Street
General Information
- Standard status
- Active
- Size
- 1,212 SF
Listing Agency:
KEY REALTY DELTA COUNTY LLC
(906) 399-9033
Listed By:
JAMIE BEAVER · License #6502370675
(906) 399-9033
Source:
Exprealty
Added: Oct 15, 2024
Changed: Jul 10
Last Checked: Jul 23 at 9:51PM
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 KEY REALTY DELTA COUNTY LLC
Investment Insights
Based on property information with market context.
This turnkey tavern and restaurant operates with a built-in bar and table seating designed to accommodate approximately 45 guests. The layout includes a full bar, two restrooms, and ample parking. The space is supported by a fully updated downstairs kitchen featuring new appliances and a walk-in freezer, along with key commercial equipment for service.
Recent improvements include new flooring behind the bar, a back bar cooler, and a draft system with a glycol cooling system. Additional kitchen updates listed include a walk-in cooler, ice machine, deep fryers, stove/oven, and flat top equipment. Mechanical and building support items noted in the updates include plumbing supply lines, LED canned lighting in the kitchen, a motor for the exhaust system, and re-staining and sealing of the kitchen floor.
The sale includes the liquor license and essential operational equipment, along with a pool table, supporting a straightforward handoff for a qualified operator. With the business already configured for bar and restaurant service and the kitchen already equipped, the property is well suited for an owner-operator looking for a ready-to-run neighborhood venue.
Recent improvements include new flooring behind the bar, a back bar cooler, and a draft system with a glycol cooling system. Additional kitchen updates listed include a walk-in cooler, ice machine, deep fryers, stove/oven, and flat top equipment. Mechanical and building support items noted in the updates include plumbing supply lines, LED canned lighting in the kitchen, a motor for the exhaust system, and re-staining and sealing of the kitchen floor.
The sale includes the liquor license and essential operational equipment, along with a pool table, supporting a straightforward handoff for a qualified operator. With the business already configured for bar and restaurant service and the kitchen already equipped, the property is well suited for an owner-operator looking for a ready-to-run neighborhood venue.
Key Highlights
- Bungalow Tavern has served the community since 1934 and is fully operational for new ownership
- Full bar plus table seating for approximately 45 guests, with two restrooms
- Updated kitchen with new appliances and a walk‑in freezer
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 | $21.8k | $18.00 |
| − Vacancy | −$567 | −$0.47 |
| EGI | $21.2k | $17.53 |
| − OpEx | −$5.3k | −$4.38 |
| NOI | $15.9k | $13.15 |
1,212 SF · lease $18.00/SF/yr · vacancy 2.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$227.7K
$199.2K – $265.6K
NOI $15,937 @ 7.0% cap · market cap 8.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$237.3K
$207.6K – $276.8K
NOI $16,608 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bars & Pubs
Similar Off Market Nearby
- Sand Bar — 903 Delta Ave, Gladstone, MI 49837
- The Saloon — 1421 Delta Ave, Gladstone, MI 49837
- Wally's — 917 Delta Ave, Gladstone, MI 49837
FAQs
What type of property is this?
Bar & Pub - Fully operational bar and restaurant with updated kitchen, built-in bar amenities, and included liquor license for new ownership.
Where is this bar & pub located?
The property is located at 403 N 17th Street Gladstone, MI.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Bungalow Tavern has served the community since 1934 and is fully operational for new ownership; Full bar plus table seating for approximately 45 guests, with two restrooms; Updated kitchen with new appliances and a walk‑in freezer
