Restaurant and Bar with Banquet
233 W Monroe Street, Bangor, MI 49013
For Sale
$399,900
Commercial Sale, Bangor, MI
Property Size6,438 SF
Lot Size0.17 Acres
Price / SF$62.12
Days on Market95
Property Features for 233 W Monroe Street
General Information
Property type
Property subtype
Bathrooms
Full bathrooms
Rooms
Interior features
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Cooling system
Amenities
Banquet and meeting space
Pool hall
Building Details
Year built
Floors in Building
Number of units
Building materials
Listing Agency:
Jaqua REALTORS
(269) 637-6537
Listed By:
Amy O'Sullivan · License #6506040161
(269) 214-1257
Added: Aug 7
Changed: Oct 30
Last Checked: Nov 9 at 4:06AM
MLS# 26041269
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.
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Investment Insights
Based on property information with market context.
This 6,438-square-foot restaurant property, built in 1940, combines a dining room, bar, full commercial kitchen, banquet and meeting areas, and a pool hall. Seating accommodates more than 160 guests. A partial basement adds storage, while forced-air heating and central air support the building’s operations. Construction includes wood siding and brick, with broadband service available.
The property occupies 0.17 acres at 233 W Monroe Street in Bangor, Michigan, along the M-43 corridor. Its existing restaurant and bar configuration, liquor license, and multiple customer-oriented spaces support continued food-and-beverage use, subject to applicable requirements.
The property occupies 0.17 acres at 233 W Monroe Street in Bangor, Michigan, along the M-43 corridor. Its existing restaurant and bar configuration, liquor license, and multiple customer-oriented spaces support continued food-and-beverage use, subject to applicable requirements.
Key Highlights
- 6,438‑square‑foot restaurant property on 0.17 acres
- Seating for more than 160 guests
- Full commercial kitchen with dining room and bar
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,252
Cap Rate
8.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$665,040
$665.0K
Cap Rate 7%
$475,029
$475.0K
Cap Rate 9%
$369,467
$369.5K
Market Conditions
NOI Build-Up for 6,438 SF
Gross rent
$48.7K $7.56/SF
− Vacancy
−$1.2K −$0.18/SF
EGI
$47.5K $7.38/SF
− OpEx
−$14.3K −$2.21/SF
NOI
$33.3K $5.16/SF
Area
Van Buren County, MI
Vacancy
2.40%
Lease Rate
$7.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$665,040
Cap Rate 7%
$475,029
Cap Rate 9%
$369,467
Alternative Uses
Best Use
Specialty Retail
$1.06M
$930.8K – $1.24M
NOI $74,467 @ 7.0% cap · market cap 18.62%
Second Best
Industrial
$475.0K
$415.7K – $554.2K
NOI $33,252 @ 7.0% cap · market cap 8.32%
Theoretical Best
Multifamily LT 5
$79.60M
$69.65M – $92.87M
NOI $5,572,334 @ 7.0% cap · market cap 1,393.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
235
Businesses Nearby
35k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 46%
McDonald's
Dining
13,440 visits/mo
0.1 miles
Speedway
Shops & Services
7,265 visits/mo
0.1 miles
Dollar General
Shops & Services
6,441 visits/mo
0.2 miles
Shell
Shops & Services
5,158 visits/mo
0.5 miles
SUBWAY
Dining
2,844 visits/mo
0.2 miles
Demographics for 49013, MI
5,175
Population
2,045
Households
2.5
Avg Household Size
39
Median Age
16%
College-Educated
80%
High-School Grad
57.0 sq mi
ZIP Area
91
Density / Sq Mi
$58,264
Median Household Income
$33,589
Median Earnings
$757
Median Rent
$140,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Established food-and-beverage property with a commercial kitchen, pool hall, meeting areas, and Class C liquor license.
Where is this conventional restaurant located?
The property is located at 233 W Monroe Street Bangor, MI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 6,438‑square‑foot restaurant property on 0.17 acres; Seating for more than 160 guests; Full commercial kitchen with dining room and bar
