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    Tip Top Deluxe Bar & Grill Title is generated by Realmo AI

    760 Butterworth Street SW, Grand Rapids, MI 49504

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    For Sale
    $1,475,000

    COMMERCIAL - Grand Rapids, MI

    Type:Retail
    Property size:
    4,641 SF
    Lot size:
    0.12 Acres
    Price / SF:
    $317/SF
    Added:
    May 22, 2026
    Days on Market:
    2
    Last Refresh:
    May 23 at 2:06 pm

    Property Features for 760 Butterworth Street SW

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Bathrooms
    3
    Rooms
    Bathroom 2, Bathroom 1, Bathroom 3
    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

    Utilities

    Utilities
    Natural Gas Available
    Heating system
    Forced Air

    Building Details

    Year built
    1920
    Number of units
    2

    We can help!

    Listing Contact
    Giuseppe Lupis
    Giuseppe Lupis

    Listing agent Giuseppe Lupis

    Listing office Greenridge Realty (EGR) 2213 Wealthy St. SE Ste 200, Grand Rapids, MI

    Listing date May 22, 2026

    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.

    HighLights

    • Turn‑key bar and grill operation with Class C liquor license and established live music venue.
    • Strategic location in a high‑growth corridor, steps from the new downtown Amphitheater and major bus lines.
    • Commercial Improved zoning allows for expansion of current use or multi‑family/mixed‑use development.
    • Two‑story building with versatile second‑floor space (office/green room).
    • Iconic piece of Grand Rapids' West Side music history.
    • High‑performing business with consistent schedule of national and local live music.

    Overview

    This commercial property features the Tip Top Deluxe Bar & Grill, a turn-key operation with a Class C liquor license and a consistent schedule of national and local live music. The two-story building, located at 760 Butterworth St SW in Grand Rapids, MI, houses an active bar and music venue on the main floor. The second floor offers versatile space, currently configured with an office and green room. The property is situated in a high-growth corridor, exceptionally walkable, and located steps from the new downtown Amphitheater and major bus lines. With Commercial Improved zoning, this property is suitable for expanding on the current use, multi-family conversions, or boutique mixed-use projects in a premier urban setting. The property size is 4641 square feet and the lot size is 0.12 acres.

    Financial Insights

    Value Estimation Calculated for Specialty Retail

    Conservative
    $837.7K
    NOI $75,393 @ 9.00% cap · cautious / downside scenario
    Moderate
    $1.08M
    NOI $75,393 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.51M
    NOI $75,393 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Specialty Retail

    Component $ $/SF
    Gross rent $105.8k $22.80
    − Vacancy −$5.3k −$1.14
    EGI $100.5k $21.66
    − OpEx −$25.1k −$5.42
    NOI $75.4k $16.25
    4,641 SF · lease $22.80/SF/yr · vacancy 5.00% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Specialty Retail
    $1.08M
    $942.4K – $1.26M (±1% cap)
    NOI $75,393 @ 7.0% cap · market cap 5.11%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    —
    —
    same as Best Use
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Tip Top Deluxe ... Bar & Pub

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Law Firm Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places 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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.687163
    Latitude
    42.959127

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    FAQs

    What type of property is this?
    Bar & Pub - Iconic Grand Rapids bar and grill with music venue.
    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: Turn‑key bar and grill operation with Class C liquor license and established live music venue.; Strategic location in a high‑growth corridor, steps from the new downtown Amphitheater and major bus lines.; Commercial Improved zoning allows for expansion of current use or multi‑family/mixed‑use development.
    (616) 443-4821
    We can help!
    Listing Contact
    Giuseppe Lupis
    Giuseppe Lupis
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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