Two-Story Bar and Music
For Sale
$1,750,000
760 Butterworth Street SW, Grand Rapids, MI 49504
COMMERCIAL - Grand Rapids, MI
Property Size8,217 SF
Lot Size0.21 Acres
Price / SF$212.97
Days on Market132
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
8,217 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Legal description per attached document
Tax Annual Amount
5629
Legal Description
Legal description per attached document
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: Apr 7
Changed: Aug 4
Last Checked: Aug 16 at 8:06PM
MLS# 26014102
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.
A for-sale commercial portfolio anchored by Tip Top Deluxe Bar & Grill, including a two-story building with an active bar and music venue on the main floor. The second floor is configured with office space and a green room. The listing also notes a Class C liquor license and a consistent schedule of national and local live music.
The bundle further includes 767 Emperor St, a rented residential property providing immediate cash flow, and 763 Emperor St, a fully paved, commercially zoned lot currently used for overflow parking.
The offering is described as located in a high-growth corridor with Commercial Improved zoning for the combined parcels, positioning the property for flexible redevelopment uses as contemplated by the seller.
The bundle further includes 767 Emperor St, a rented residential property providing immediate cash flow, and 763 Emperor St, a fully paved, commercially zoned lot currently used for overflow parking.
The offering is described as located in a high-growth corridor with Commercial Improved zoning for the combined parcels, positioning the property for flexible redevelopment uses as contemplated by the seller.
Key Highlights
- 3‑parcel commercial bundle: 760 Butterworth St SW, 767 Emperor St, and 763 Emperor St
- 760 Butterworth St SW: 2‑story building with an active bar and music venue on the main floor
- Second floor at 760 Butterworth St SW includes office space and a green room
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
$133,485
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
7.63%
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%
$2,669,700
$2.7M
Cap Rate 7%
$1,906,929
$1.9M
Cap Rate 9%
$1,483,167
$1.5M
Market Conditions
NOI Build-Up for 8,217 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
$187.3K $22.80/SF
− Vacancy
−$9.4K −$1.14/SF
EGI
$178.0K $21.66/SF
− OpEx
−$44.5K −$5.42/SF
NOI
$133.5K $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%
$2,669,700
Cap Rate 7%
$1,906,929
Cap Rate 9%
$1,483,167
Alternative Uses
Best Use
Specialty Retail
$1.91M
$1.67M – $2.22M
NOI $133,485 @ 7.0% cap · market cap 7.63%
Second Best
—
—
no second resolved use
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
5k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Little Caesars Pizza
Dining
4,961 visits/mo
0.4 miles
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
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 - For sale two-story bar and music venue with additional office and green room space on the upper level.
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 $1,750,000.
What are key features of this property?
This property features: 3‑parcel commercial bundle: 760 Butterworth St SW, 767 Emperor St, and 763 Emperor St; 760 Butterworth St SW: 2‑story building with an active bar and music venue on the main floor; Second floor at 760 Butterworth St SW includes office space and a green room
