403 N 17th Street, Gladstone, MI 49837
Fully operational bar and restaurant with updated kitchen, built-in bar amenities, and included liquor license for new ownership.
- Added:
- Oct 15, 2024
- Days on Market:
- 602
- Last Refresh:
- Jun 5 at 2:15 am
Property Features for 403 N 17th Street
General Information
- Standard status
- Active
- Size
- 1,212 SF
Listing agent JAMIE BEAVER License #6502370675 (906) 399-9033
Listing office KEY REALTY DELTA COUNTY LLC (906) 399-9033
Listing date Oct 15, 2024
Source Exprealty
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
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
- Sale includes liquor license and essential equipment (pool table and bar/restaurant equipment)
- Recent upgrades include new flooring behind the bar and a new draft system with glycol cooling
- Kitchen upgrades include a walk‑in cooler, ice machine, deep fryers, stove/oven, flat top, and LED canned lighting
Overview
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.
Local 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 |
Alternative Uses
Current Use by Public Records
Similar Places 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
Location Insight
- Map
- Local Demand
- City
- Gladstone
- County
- Delta
- State
- Michigan
- Longitude
- -87.031702
- Latitude
- 45.840634
