Remodeled Bar/Restaurant with Rooftop
609 West Western Avenue Muskegon, MI 49440
For Sale
$565,000
Remodeled bar/restaurant in downtown Muskegon with rooftop deck.
Property Size2,744 SF
Price / SF$205.90
Days on Market124
Property Features for 609 West Western Avenue
General Information
- Standard status
- Active
- Size
- 2,744 SF
- Property subtype
- Retail
Listing Agency:
(616) 799-6629
Listed By:
Russ Bono, CCIM · License #MI 6501380200
(616) 799-6629
Source:
Cbre
Added: Mar 25
Changed: Jul 6
Last Checked: Jul 26 at 3:32AM
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 Russ Bono, CCIM
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 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 | $42.5k | $15.48 |
| − Vacancy | −$1.8k | −$0.65 |
| EGI | $40.7k | $14.83 |
| − OpEx | −$10.2k | −$3.71 |
| NOI | $30.5k | $11.12 |
2,744 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 25.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bars & Pubs
Similar Off Market Nearby
- The Block — 360 W Western Ave 2nd floor, Muskegon, MI 49440
- No Name Saloon — 609 W Western Ave, Muskegon, MI 49440
- TERRYS TUNES — 1077 Jefferson St Apt 812, Muskegon, MI 49440
- Mike's Inn — 545 W Western Ave, Muskegon, MI 49440
- Topshelf Liquor Bar & Pizza — 500 W Western Ave, Muskegon, MI 49440
FAQs
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.**
