Remodeled Bar/Restaurant with Rooftop
For Sale
$565,000
609 West Western Avenue, Muskegon, MI 49440
Remodeled bar/restaurant in downtown Muskegon with rooftop deck.
Property Size2,744 SF
Price / SF$205.90
Days on Market195
Property Features for 609 West Western Avenue
General Information
Standard status
Active
Size
2,744 SF
Property subtype
Retail
Listing Agency:
CBRE
Listed By:
Russ Bono, CCIM · License #6501380200
(616) 799-6629
Source:
Cbre
Added: Mar 25
Changed: Oct 4
Last Checked: Oct 5 at 3:48PM
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 CBRE
Investment Insights
Based on property information with market context.
This newly remodeled bar and restaurant building is situated in downtown Muskegon, Michigan, offering a location overlooking Muskegon Lake. The property encompasses 2,744 square feet and includes a rooftop deck equipped with restrooms and a bar. Inside, a full kitchen is present. The sale incorporates the real estate, a liquor license, and all furniture, fixtures, and equipment.
Key Highlights
- Includes real estate, liquor license, furniture, fixtures, and equipment.
- Prime location in downtown Muskegon overlooking Muskegon Lake.**
- Features a rooftop deck with restrooms and a bar.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,520
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$610,400
$610.4K
Cap Rate 7%
$436,000
$436.0K
Cap Rate 9%
$339,111
$339.1K
Market Conditions
NOI Build-Up for 2,744 SF
Gross rent
$42.5K $15.48/SF
− Vacancy
−$1.8K −$0.65/SF
EGI
$40.7K $14.83/SF
− OpEx
−$10.2K −$3.71/SF
NOI
$30.5K $11.12/SF
Area
Muskegon 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%
$610,400
Cap Rate 7%
$436,000
Cap Rate 9%
$339,111
Alternative Uses
Best Use
Specialty Retail
$436.0K
$381.5K – $508.7K
NOI $30,520 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$25.77M
$22.55M – $30.06M
NOI $1,803,830 @ 7.0% cap · market cap 319.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
965
Businesses Nearby
3k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Shell
Shops & Services
3,232 visits/mo
0.4 miles
Demographics for 49440, MI
1,320
Population
860
Households
1.5
Avg Household Size
44
Median Age
36%
College-Educated
93%
High-School Grad
0.6 sq mi
ZIP Area
2,200
Density / Sq Mi
$42,500
Median Household Income
$37,067
Median Earnings
$791
Median Rent
$163,100
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
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Similar Off Market Nearby
- No Name Saloon — 609 W Western Ave, Muskegon, MI 49440
- Mike's Inn — 545 W Western Ave, Muskegon, MI 49440
- Topshelf Liquor Bar & Pizza — 500 W Western Ave, Muskegon, MI 49440
- TERRYS TUNES — 1077 Jefferson St Apt 812, Muskegon, MI 49440
- The Block — 360 W Western Ave 2nd floor, Muskegon, MI 49440
Frequently Asked Questions
What type of property is this?
Bar & Pub - Remodeled bar/restaurant in downtown Muskegon with rooftop deck.
Where is this bar & pub located?
The property is located at 609 West Western Avenue Muskegon, MI.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Includes real estate, liquor license, furniture, fixtures, and equipment.; Prime location in downtown Muskegon overlooking Muskegon Lake.**; Features a rooftop deck with restrooms and a bar.**
