Downtown Taproom with
For Sale
$425,000
100 S 4th Ave, Ann Arbor, MI 48104
Fully furnished 2,900sf taproom with dedicated production areas, patio, and extensive on-site brewing equipment.
Property Size2,900 SF
Price / SF$146.55
Days on Market75
Property Features for 100 S 4th Ave
General Information
Standard status
Active
Size
2,900 SF
Property subtype
Retail
Zoning
D1 (Downtown Core)
Additional Details
Furnished
Yes
Business Included
Yes
Liquor License
Yes
Listed By:
Jeff Evans · License #MI #6506045981
(734) 926-0222
Source:
Swishercommercial
Added: Jun 23
Changed: Aug 26
Last Checked: Sep 5 at 7:03AM
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 Jeff Evans
Investment Insights
Based on property information with market context.
A fully furnished, light-filled taproom built for both guest service and production, offering a flexible layout that supports taproom operations, private or community events, and expanded production. The space includes a seating area and production areas, plus separate shared bathrooms. A glass roll-up door within the seating area provides direct interaction with an active front-of-taproom setting for events.
The property is located in downtown Ann Arbor, one block off Main Street and two blocks from Kerrytown. The front includes a glass roll-up door that facilitates daytime deliveries and provides an inviting storefront experience for sidewalk patio seating.
Included with the sale is the operating infrastructure and readiness to continue service, including brewing equipment such as five 15BBL jacketed bright beer tanks, five 7BBL single wall serving tanks, a large walk-in cooler with direct taps, and a Wild Goose WG1 canning line, along with a keg washer and glycol chiller. Licenses included are described as current, including a small winemakers license, brewery license, sidewalk patio permits, health department, music and movie licensing, and Main Street Social District licensing, plus membership to multiple downtown business associations. A secure lease runs through February 2028 with two additional five-year options.
The property is located in downtown Ann Arbor, one block off Main Street and two blocks from Kerrytown. The front includes a glass roll-up door that facilitates daytime deliveries and provides an inviting storefront experience for sidewalk patio seating.
Included with the sale is the operating infrastructure and readiness to continue service, including brewing equipment such as five 15BBL jacketed bright beer tanks, five 7BBL single wall serving tanks, a large walk-in cooler with direct taps, and a Wild Goose WG1 canning line, along with a keg washer and glycol chiller. Licenses included are described as current, including a small winemakers license, brewery license, sidewalk patio permits, health department, music and movie licensing, and Main Street Social District licensing, plus membership to multiple downtown business associations. A secure lease runs through February 2028 with two additional five-year options.
Key Highlights
- 2,900 SF fully furnished modern taproom with separate shared bathrooms, featuring dedicated taproom and production areas
- On‑site brewing system includes five 15BBL jacketed bright beer tanks, walk‑in cooler with direct taps, five 7BBL serving tanks
- Canning and conditioning equipment includes Wild Goose WG1 canning line, keg washer, and glycol chiller
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
$38,230
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
9.00%
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%
$764,600
$764.6K
Cap Rate 7%
$546,143
$546.1K
Cap Rate 9%
$424,778
$424.8K
Market Conditions
NOI Build-Up for 2,900 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
$53.9K $18.60/SF
− Vacancy
−$3.0K −$1.02/SF
EGI
$51.0K $17.58/SF
− OpEx
−$12.7K −$4.39/SF
NOI
$38.2K $13.18/SF
Area
Ann Arbor, MI
Vacancy
5.50%
Lease Rate
$18.60 /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%
$764,600
Cap Rate 7%
$546,143
Cap Rate 9%
$424,778
Alternative Uses
Best Use
Specialty Retail
$546.1K
$477.9K – $637.2K
NOI $38,230 @ 7.0% cap · market cap 9.00%
Second Best
Industrial
$211.6K
$185.1K – $246.9K
NOI $14,811 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$640.5K
$560.4K – $747.2K
NOI $44,834 @ 7.0% cap · market cap 10.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
4,422
Businesses Nearby
Explore this area
Business Placement
Demographics for 48104, MI
41,588
Population
19,173
Households
2.2
Avg Household Size
27
Median Age
82%
College-Educated
98%
High-School Grad
7.8 sq mi
ZIP Area
5,332
Density / Sq Mi
$63,341
Median Household Income
$16,073
Median Earnings
$1,548
Median Rent
$481,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Brewery - Fully furnished 2,900sf taproom with dedicated production areas, patio, and extensive on-site brewing equipment.
Where is this brewery located?
The property is located at 100 S 4th Ave Ann Arbor, MI.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 2,900 SF fully furnished modern taproom with separate shared bathrooms, featuring dedicated taproom and production areas; On‑site brewing system includes five 15BBL jacketed bright beer tanks, walk‑in cooler with direct taps, five 7BBL serving tanks; Canning and conditioning equipment includes Wild Goose WG1 canning line, keg washer, and glycol chiller
