Two-Story Bar and Music
For Sale
$1,475,000
760 Butterworth Street SW, Grand Rapids, MI 49504
COMMERCIAL - Grand Rapids, MI
Property Size4,641 SF
Lot Size0.12 Acres
Price / SF$317.82
Days on Market93
Property Features for 760 Butterworth Street SW
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3
Elementary school district
Grand Rapids
Middle school district
Grand Rapids
High school district
Grand Rapids
Directions
From Wealthy, north on Straight, property is on the right before intersection with Butterworth.
Standard status
Active
APN
41-13-25-351-001
Size
4,641 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
LOT 881* PANFIL S ASSESSOR S PLAT NO 46* OF PART OF THE SW 1/4 OF THE SW 1/4 OF SECTION 25 T7N R12W
Tax Annual Amount
4010
Legal Description
LOT 881* PANFIL S ASSESSOR S PLAT NO 46* OF PART OF THE SW 1/4 OF THE SW 1/4 OF SECTION 25 T7N R12W
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Building Details
Year built
1920
Number of units
2
Listing Agency:
Greenridge Realty (EGR)
(616) 458-3655
Listed By:
Giuseppe Lupis
(616) 443-4821
Added: May 22
Changed: Aug 4
Last Checked: Aug 22 at 6:06AM
MLS# 26024182
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.
Investment Insights
Based on property information with market context.
This two-story property includes the Tip Top Deluxe Bar & Grill, operating as an active bar and music venue on the main floor. The second floor is configured with office space and a green room. The business is described as turn-key and includes a Class C liquor license.
The property is located at 760 Butterworth Street SW in Grand Rapids, in a walkable corridor with access to major bus lines. Public remarks note it is steps from the new downtown Amphitheater.
The property is identified with Commercial Improved zoning and is presented as a fit for continuing the current use or redevelopment opportunities that may align with multi-family conversion or boutique mixed-use concepts. Lot size is listed as 0.12 acres and the total property size is 4,641 square feet.
The property is located at 760 Butterworth Street SW in Grand Rapids, in a walkable corridor with access to major bus lines. Public remarks note it is steps from the new downtown Amphitheater.
The property is identified with Commercial Improved zoning and is presented as a fit for continuing the current use or redevelopment opportunities that may align with multi-family conversion or boutique mixed-use concepts. Lot size is listed as 0.12 acres and the total property size is 4,641 square feet.
Key Highlights
- Tip Top Deluxe Bar & Grill commercial opportunity at 760 Butterworth St SW, including an active bar and music venue on the main floor
- Second‑floor space currently configured with an office and green room
- Class C liquor license included
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
$75,393
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
5.11%
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%
$1,507,860
$1.5M
Cap Rate 7%
$1,077,043
$1.1M
Cap Rate 9%
$837,700
$837.7K
Market Conditions
NOI Build-Up for 4,641 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
$105.8K $22.80/SF
− Vacancy
−$5.3K −$1.14/SF
EGI
$100.5K $21.66/SF
− OpEx
−$25.1K −$5.42/SF
NOI
$75.4K $16.25/SF
Area
Grand Rapids, MI
Vacancy
5.00%
Lease Rate
$22.80 /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%
$1,507,860
Cap Rate 7%
$1,077,043
Cap Rate 9%
$837,700
Alternative Uses
Best Use
Specialty Retail
$1.08M
$942.4K – $1.26M
NOI $75,393 @ 7.0% cap · market cap 5.11%
Second Best
Office B
$619.7K
$542.2K – $723.0K
NOI $43,377 @ 7.0% cap · market cap 2.94%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
634
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49504, MI
41,249
Population
18,830
Households
2.2
Avg Household Size
33
Median Age
39%
College-Educated
90%
High-School Grad
11.1 sq mi
ZIP Area
3,716
Density / Sq Mi
$68,326
Median Household Income
$41,138
Median Earnings
$1,145
Median Rent
$222,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Tip Top Deluxe Bar & Grill — 760 Butterworth St SW, Grand Rapids, MI 49504
- The Tin Can — 206 Cesar E. Chavez Ave SW, Grand Rapids, MI 49503
- Grand Woods Lounge — 77 Cesar E. Chavez Ave SW, Grand Rapids, MI 49503
- Intersection Lounge — 133 grandville ave sw, grand rapids, mi 49503
- Founders Brewing Co — 235 Cesar E. Chavez Ave SW, Grand Rapids, MI 49503
Frequently Asked Questions
What type of property is this?
Bar & Pub - Two-story building with an active bar and music venue downstairs and office and green room space upstairs.
Where is this bar & pub located?
The property is located at 760 Butterworth Street SW Grand Rapids, MI.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Tip Top Deluxe Bar & Grill commercial opportunity at 760 Butterworth St SW, including an active bar and music venue on the main floor; Second‑floor space currently configured with an office and green room; Class C liquor license included
