Retail Center in Holland,
1149 S Washington Avenue Holland, MI 49423
1149 S Washington Avenue, Holland, MI, 49423
$5,060,000
For Sale
$5,060,000
COMMERCIAL - Holland, MI
Property Size43,243 SF
Lot Size3.33 Acres
Price / SF$117.01
Days on Market74
Property Features for 1149 S Washington Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Bathrooms
- 1
- Rooms
- Bathroom 1
- Parking
- 130
- Interior features
- Broadband
- Standard status
- Active
- APN
- 53-02-05-300-103
- Size
- 43,243 SF
- Lot size
- 3.33 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- PART SW1/4 SW1/4 COM 1328.16 FT S & 63.14 FT E OF W1/4 COR TH N 80 FT TH E 181.1 FT TH S 80 FT TH E 118.81 FT TH S 435.6
- Tax Annual Amount
- 71006
Utilities
- Utilities
- Cable Available
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 2005
- Floors in Building
- 1
- Number of units
- 1
- Building materials
- Aluminum Siding, Stucco, Brick, Stone
- Roof type
- Rubber
Listing Agency
Lakeshore Commercial Real Estate
(616) 394-4500
44 E 8th Street # 510, Holland, MI
Listed by
Michael Nagelkirk · License #6501194952
(616) 836-1122
Added: May 4 Checked: Jul 16 at 8:06 pm
MLS# 26020012
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 multi-tenant retail shopping center presents an investment opportunity within a major regional retail corridor. The neighborhood shopping center is located in the Washington retail district, adjacent to Family Fare on US-31 Business Route (S Washington Ave), north of Exit 47 I-196/US-31. The area features a mix of regional and national tenants, as well as locally owned businesses. The property benefits from visibility, traffic, and access to a primary north-south arterial. The center consists of four buildings totaling 43,243 square feet, with 40,642 rentable square feet, situated on 3.3 acres. The location on heavily traveled S Washington Avenue is suitable for any business. Surrounded by national and regional retailers, the property is positioned for cash flow and tenant demand.
Key Highlights
- Located in a thriving retail corridor with high traffic counts on S Washington Avenue.
- Adjacent to Holland's south side Family Fare on US‑31 Business Route, near I‑196/US‑31 Exit 47.
- Four buildings totaling 44,414 square feet (40,642 rentable) on 3.3 acres.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $669.4k | $15.48 |
| − Vacancy | −$28.1k | −$0.65 |
| EGI | $641.3k | $14.83 |
| − OpEx | −$192.4k | −$4.45 |
| NOI | $448.9k | $10.38 |
43,243 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$6.41M
$5.61M – $7.48M
NOI $448,901 @ 7.0% cap · market cap 8.87%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$537.74M
$470.52M – $627.36M
NOI $37,641,690 @ 7.0% cap · market cap 743.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
ATM (Family Fare ...
Atm
Family Fare Quick ...
Gas Station
Similar For Sale Nearby
FAQs
What type of property is this?
Shopping center - Multi-tenant retail center in a thriving commercial area.
Where is this shopping center located?
The property is located at 1149 S Washington Avenue Holland, MI.
What is the asking price?
The asking price for this property is $5,060,000.
What are key features of this property?
This property features: Located in a thriving retail corridor with high traffic counts on S Washington Avenue.; Adjacent to Holland's south side Family Fare on US‑31 Business Route, near I‑196/US‑31 Exit 47.; Four buildings totaling 44,414 square feet (40,642 rentable) on 3.3 acres.
