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    Historical Motel with Monthly Rentals Title is generated by Realmo AI

    1159 S Shore Drive, Holland, MI 49423

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    Claim this Listing
    For Sale
    $1,999,999

    MULTI_FAMILY - Holland, MI

    Lot size:
    0.80 Acres
    Added:
    May 21, 2026
    Days on Market:
    19
    Last Refresh:
    Jun 8 at 12:06 am

    Property Features for 1159 S Shore Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    14
    Rooms
    Bathroom 7, Bedroom 9, Bedroom 4, Bathroom 4, Bedroom 13, Bedroom 8, Bedroom 10, Bedroom 11, Bathroom 9, Bathroom 2, Bedroom 12, Bedroom 14, Bathroom 5, Bedroom 5, Bedroom 7, Bedroom 3, Bathroom 3, Bathroom 8, Bathroom 1, Bathroom 10, Bathroom 11, Bedroom 1, Bathroom 13, Bedroom 6, Bedroom 2, Bathroom 6, Bathroom 12
    Parking
    20
    Parking features
    Driveway
    Basement
    Full
    Standard status
    Active
    APN
    70-15-35-286-001
    Lot size
    0.80 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    LOTS 100 TO 106 INCL BLK 9 CENTRAL PARK SEC 35 T5N R16W
    Tax Annual Amount
    14158

    Utilities

    Utilities
    Natural Gas Available
    Heating system
    Forced Air
    Cooling system
    Central Air
    Water front features
    Lake
    Water front
    1

    Building Details

    Year built
    1950
    Number of units
    14
    Building materials
    Brick, Stone, Wood Siding
    Roof type
    Composition

    We can help!

    Listing Contact
    Tammy L Kerr
    Tammy L Kerr

    Listing agent Tammy L Kerr License #6502335918

    Listing office BHG Connections 444 Center St, Douglas, MI

    Listing date May 21, 2026

    MLS# 26026540 Listing URL

    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

    • Historical motel built in 1950 with 14 fully operational monthly rentals, including 13 units in the old motel plus a garage apartment and private residence
    • Lake Macatawa waterfront location across from Central Market, with 3 access points and a beach
    • NMU zoning allows 1 short‑term rental, per public remarks
    • Forced‑air heating and central air conditioning
    • Exterior construction includes brick, stone, and wood siding
    • Composition roof with driveway parking and natural gas available

    Overview

    Built as a historical motel, this property at 1159 S Shore Drive includes 14 fully operational monthly rental units. The mix features 13 units located in the original motel structure, along with an additional garage apartment and a private residence on the site. The offering is designed around short-stay living with multiple on-site entry points, and it is currently operated as monthly rentals.

    The property is positioned across the street from Central Market grocery store, with Lake Macatawa access described as only steps away. Public remarks indicate three access points and beach proximity, supporting convenient guest arrival and flexible use of the property’s shoreline-adjacent setting.

    For buyers and operators seeking an income-generating hospitality and residential income configuration, the current layout provides an extended-stay framework that may be adaptable to different rental terms. Public remarks also reference NMU zoning regulations allowing for 1 short-term rental, and mention the possibility of pursuing additional uses through rezoning processes. Prospective purchasers should verify all zoning, permitting, and conversion requirements directly with the applicable local authorities before making operating changes.
    Property Profile Location Intelligence

    Current Use by Public Records

    Motels

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Building Supply Auto Repair Shop Big Box & Wholesale Store HVAC Service Electrical Service Garden Center

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

    Similar Places Nearby

    • Merchant Hall — 438 Washington Ave, Holland, MI 49423
    • Port 393 | Luxury Weddings & Events in Holland MI — 393 Cleveland Ave, Holland, MI 49423

    Location Insight

    • Map
    • Local Demand
    City
    Holland
    County
    Ottawa
    State
    Michigan
    Longitude
    -86.157551
    Latitude
    42.776085

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    FAQs

    What type of property is this?
    Motel - A historic motel-style property with 14 monthly rentals, including a garage apartment and private residence near Lake Macatawa access.
    Where is this motel located?
    The property is located at 1159 S Shore Drive Holland, MI.
    What is the asking price?
    The asking price for this property is $1,999,999.
    What are key features of this property?
    This property features: Historical motel built in 1950 with 14 fully operational monthly rentals, including 13 units in the old motel plus a garage apartment and private residence; Lake Macatawa waterfront location across from Central Market, with 3 access points and a beach; NMU zoning allows 1 short‑term rental, per public remarks
    (616) 218-0873
    We can help!
    Listing Contact
    Tammy L Kerr
    Tammy L Kerr
    Real Estate License ID: 6502335918
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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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