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    1145 Office, Unit B-20 Holland, MI 49423

    Sponsored
    Picture of Retail space at Office 1145, Holland, MI
    For Lease
    $13 SF/Yr ($1,527 /Mo)

    COMMERCIAL - Holland, MI

    Type:Retail
    Property size:
    1,410 SF
    Lot size:
    3.33 Acres
    Days on Market:
    178
    Last Refresh:
    Jan 31 at 4:06 pm

    Property Features for 1145 Office

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Standard status
    Active
    APN
    03-50-53-020-661
    Parking
    130
    Fireplace
    1
    Size
    1,410 SF
    Lot size
    3.33 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    2004
    Building materials
    Aluminum Siding, Stucco, Brick, Stone
    Roof type
    Rubber

    We can help!

    Listing Contact
    Michael Nagelkirk

    Lakeshore Commercial Real Estate (616) 394-4500

    Listing agent Michael Nagelkirk (616) 396-8649

    Listing date Aug 7, 2025

    MLS# 25038314

    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.

    Learn more

    Overview

    Holland Retail and Warehouse Space

    Two new spaces have been added to the South Washington Retail Center. Building B, Suite 20, offers 1,410 square feet of office/retail space. Additionally, an 8,000-square-foot warehouse is accessible via a hallway from the rear of the office. The warehouse can be leased independently for various uses, including service-related commercial activities, storage, and auto repair. This neighborhood shopping center is situated in a thriving retail district on South Washington Avenue, adjacent to Holland's south side Family Fare on US-31 Business Route (S Washington Ave), just north of Exit 47 I-196/US-31. The area is well-established, featuring a mix of regional and national tenants, as well as locally owned businesses. The location on heavily traveled South Washington Avenue makes it ideal for any business. The AADT traffic count for 2024 is 19,364. The property is located in Holland, Allegan County, Michigan, with a lot size of 3.33 acres.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Holland
    County
    Ottawa
    State
    Michigan
    Longitude
    -86.116134
    Latitude
    42.755997

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    FAQs

    What type of property is this?
    Retail space - Retail and warehouse spaces available in thriving Holland retail district.
    Where is this retail space located?
    The property is located at 1145 Office, Unit B-20 Holland, MI.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: - High-traffic location on S Washington Avenue with AADT of 19,364 (2024).; - Versatile space: **1,410 sf office/retail space plus an 8,000 sf warehouse.**; - Warehouse suitable for diverse uses: service-related commercial, storage, auto repair, etc.
    (616) 836-1122
    Request Owner's contact information
    1145 Office, Unit B-20 Holland, MI 49423
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    Holland, MI 49423
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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.

    More about this property
    1145 Office, Unit B-20 Holland, MI 49423
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    We can help!
    Listing Contact
    Michael Nagelkirk
    (616) 836-1122
    Learn more
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