Flex Space with Overhead
For Sale
$276,000
1500 Kooiman Avenue, Grand Haven, MI 49417
COMMERCIAL - Grand Haven, MI
Property Size1,248 SF
Price / SF$221.15
Days on Market357
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
Subdivision
North Ottawa County - N
Standard status
Active
APN
70-03-28-301-019
Size
1,248 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
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 4
Last Checked: Aug 17 at 8:06AM
MLS# 25043900
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.
Kooiman Place is an under-construction flex space development offering commercial units configured for combined workspace and storage. Available layouts measure 1,248 square feet and 1,728 square feet, with mezzanine options that can add office or storage capacity. Each unit includes a 14' x 16' insulated overhead door, a separate 3' entry door, Anderson sliding doors and windows, and Schlage smart entry systems.
The spaces are designed with adaptable layouts and finish allowances, along with upgrade options for further customization. Potential applications identified for the units include studios, workshops, service businesses, and professional offices. Building features include block and metal siding construction, forced-air heating, central air, broadband, and cable availability. The development is scheduled for 2026 construction.
The spaces are designed with adaptable layouts and finish allowances, along with upgrade options for further customization. Potential applications identified for the units include studios, workshops, service businesses, and professional offices. Building features include block and metal siding construction, forced-air heating, central air, broadband, and cable availability. The development is scheduled for 2026 construction.
Key Highlights
- Flexible unit sizes of 1,248 square feet and 1,728 square feet
- 14' x 16' insulated overhead door plus an additional 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
$21,011
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
7.61%
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%
$420,220
$420.2K
Cap Rate 7%
$300,157
$300.2K
Cap Rate 9%
$233,456
$233.5K
Market Conditions
NOI Build-Up for 1,248 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
$27.0K $21.60/SF
− Vacancy
−$2.2K −$1.79/SF
EGI
$24.7K $19.81/SF
− OpEx
−$3.7K −$2.97/SF
NOI
$21.0K $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%
$420,220
Cap Rate 7%
$300,157
Cap Rate 9%
$233,456
Alternative Uses
Best Use
Warehouse
$300.2K
$262.6K – $350.2K
NOI $21,011 @ 7.0% cap · market cap 7.61%
Second Best
Industrial
$263.1K
$230.2K – $307.0K
NOI $18,417 @ 7.0% cap · market cap 6.67%
Theoretical Best
Multifamily LT 5
$15.52M
$13.58M – $18.11M
NOI $1,086,345 @ 7.0% cap · market cap 393.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Under-construction commercial units combine adaptable workspace with integrated storage and customizable finish options.
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 $276,000.
What are key features of this property?
This property features: Flexible unit sizes of 1,248 square feet and 1,728 square feet; 14' x 16' insulated overhead door plus an additional 3' entry door; Mezzanine options for added office or storage space
