Flex Space with Mezzanine
For Sale
$331,000
1500 Kooiman Avenue, Grand Haven, MI 49417
Commercial Sale, Grand Haven, MI
Property Size1,728 SF
Price / SF$191.55
Days on Market403
Property Features for 1500 Kooiman Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Interior features
Broadband
Elementary school district
Grand Haven
Middle school district
Grand Haven
High school district
Grand Haven
Directions
Conveniently located just off US-31, 1500 Kooiman Avenue is easy to find from any direction. From US-31, take the Comstock Street exit and head east. In about half a mile, turn left onto Kooiman Avenue. Continue a short distance, and the property will be on your right.
Subdivision
North Ottawa County - N
Standard status
Active
APN
70-03-28-312-005
Size
1,728 SF
Taxes and HOA fees
Tax Description
See attached
Legal Description
See attached
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Amenities
Schlage smart entry systems
mezzanine options
Anderson sliding doors and windows
insulated overhead door
additional 3' entry door
Building Details
Year built
2026
Floors in Building
1
Number of units
1
Building materials
Block, Metal Siding
Listing Agency:
RE/MAX Lakeshore · RE/MAX International
(616) 935-1150
Listed By:
Sandi L Gentry · License #6506045021
(616) 638-3900
Added: Aug 26, 2025
Changed: Aug 26
Last Checked: Oct 2 at 6:06AM
MLS# 25043939
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 under-construction flex development offers commercial units configured for a combination of workspace and storage. Available sizes include 1,248 SF and 1,728 SF, with layouts that can accommodate studios, workshops, service businesses, or professional offices. Mezzanine options provide additional office or storage capacity, while Anderson sliding doors and windows bring natural light into the interiors.
Each unit includes a 14' x 16' insulated overhead door and a separate 3' entry door. Access is supported by Schlage smart entry systems, with finish allowances and upgrade options available for customization. Construction includes block and metal siding, forced-air heating, central air, broadband, and cable availability. The property is located at 1500 Kooiman Avenue in Grand Haven, Michigan.
Each unit includes a 14' x 16' insulated overhead door and a separate 3' entry door. Access is supported by Schlage smart entry systems, with finish allowances and upgrade options available for customization. Construction includes block and metal siding, forced-air heating, central air, broadband, and cable availability. The property is located at 1500 Kooiman Avenue in Grand Haven, Michigan.
Key Highlights
- 1,248 SF and 1,728 SF commercial unit options
- 14' x 16' insulated overhead door plus separate 3' entry door
- Mezzanine options for added office or storage space
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
$29,093
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
8.79%
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%
$581,860
$581.9K
Cap Rate 7%
$415,614
$415.6K
Cap Rate 9%
$323,256
$323.3K
Market Conditions
NOI Build-Up for 1,728 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
$37.3K $21.60/SF
− Vacancy
−$3.1K −$1.79/SF
EGI
$34.2K $19.81/SF
− OpEx
−$5.1K −$2.97/SF
NOI
$29.1K $16.84/SF
Area
Ottawa County, MI
Vacancy
8.30%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
15.00%
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%
$581,860
Cap Rate 7%
$415,614
Cap Rate 9%
$323,256
Alternative Uses
Best Use
Warehouse
$415.6K
$363.7K – $484.9K
NOI $29,093 @ 7.0% cap · market cap 8.79%
Second Best
Industrial
$364.3K
$318.8K – $425.0K
NOI $25,500 @ 7.0% cap · market cap 7.70%
Theoretical Best
Multifamily LT 5
$21.49M
$18.80M – $25.07M
NOI $1,504,170 @ 7.0% cap · market cap 454.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
871
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49417, MI
32,406
Population
14,709
Households
2.2
Avg Household Size
43
Median Age
38%
College-Educated
95%
High-School Grad
46.9 sq mi
ZIP Area
691
Density / Sq Mi
$84,476
Median Household Income
$45,392
Median Earnings
$1,101
Median Rent
$287,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Under-construction commercial units combine workspace, storage, and customizable layouts for varied business operations.
Where is this flex space located?
The property is located at 1500 Kooiman Avenue Grand Haven, MI.
What is the asking price?
The asking price for this property is $331,000.
What are key features of this property?
This property features: 1,248 SF and 1,728 SF commercial unit options; 14' x 16' insulated overhead door plus separate 3' entry door; Mezzanine options for added office or storage space
