The building in New Road, most recently known as Bar Eleven, went under the hammer for £250,000 in 2016.
Plans submitted to council bosses now state that the venue would hold therapy classes, learning support and have a cafe and beauty treatment area.
After closure of the Conservative Club in 2007, the building on the ring road became a target for vandalism.
However it was then brought back into use as a live music venue and recording studio called Moochers Jailhouse, which opened in the premises in 2012.
It was taken over by Bar Eleven in 2014.
Councillor Nicolas Barlow, who represents the Wollaston and Stourbridge Town ward, said he welcomed the plans.
He explained: "Anything that enhances an area and community has to be a positive.
"I think it sounds a really good idea, and being placed so close to the church maybe there will be some joined up working too.
"It has sadly been empty for some time, so for it to be brought back into use in the day time will be really good.
"That area of Stourbridge has been a bit of a lost area and for people coming in from that side of the town it will be a great stop gap with lots of potential."
The venue currently has two bar areas, club room or music venue with stage, green room and DJ booth, ladies, gents and disabled WCs and a beer cellar.
On the first floor there is a former sound recording studio, office, two rooms, rest room, WCs and kitchen area.
Planning documents state: "Change of use of former nightclub and recording studio into mixed use development for child development and learning support/therapy classes, cafe area and beauticians treatment room all with ancillary offices.
"The application form states that the proposed cafe is primarily aimed at providing a service for parents visiting the facility but is also open to the public.
"It is noted that the application site is situated at the edge of the busy Stourbridge Ring Road, that the nearest residential property is over 30 metres to the south west, and that noise or odour from the cafe operations are unlikely to adversely affect residential amenity.
"There are no adverse comments in respect of noise or air quality issues."
Plans were registered with Dudley Council planners on January 10.