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    Modern Flex Space For Sale Title is generated by Realmo AI

    1500 Kooiman Avenue, Grand Haven, MI 49417

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    For Sale
    $338,000

    COMMERCIAL - Grand Haven, MI

    Property size:
    1,728 SF
    Price / SF:
    $195/SF
    Added:
    Aug 26, 2025
    Days on Market:
    264
    Last Refresh:
    May 16 at 4:06 pm

    Property Features for 1500 Kooiman Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Property condition
    Under Construction
    Interior features
    Broadband
    Standard status
    Active
    APN
    70-03-28-301-019
    Size
    1,728 SF

    Taxes and HOA fees

    Tax 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

    We can help!

    Listing Contact
    Sandi L Gentry
    Sandi L Gentry

    Listing agent Sandi L Gentry License #6502359178

    Listing office RE/MAX Lakeshore 133 Washington Avenue, Holland, MI

    Listing date Aug 26, 2025

    MLS# 25043908

    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

    • Flexible commercial spaces available in 1,248 sq ft and 1,728 sq ft options.
    • Under construction, allowing for customization with generous allowances for finishes and multiple upgrade options.
    • Features a 14' x 16' insulated overhead door with an additional 3' entry door.
    • Includes Schlage smart entry systems for enhanced security.
    • Offers mezzanine options for added office or storage space.
    • Equipped with Anderson sliding doors and windows for natural light.

    Overview

    Kooiman Place is a modern, flexible development designed to meet the needs of entrepreneurs, small business owners, and professionals seeking a unique space for growth. Currently under development, these innovative units offer a blend of workspace and storage. Commercial spaces are available in 1,248 sq ft and 1,728 sq ft options. Features include Schlage smart entry systems, mezzanine options for added office or storage space, Anderson sliding doors and windows for natural light, and versatile layouts. Each unit includes a 14' x 16' insulated overhead door with an additional 3' entry door, making them suitable for studios, workshops, service businesses, or professional offices. Generous allowances for finishes and multiple upgrade options allow customization. The property is located in Grand Haven, MI, in Ottawa County, with the postal code 49417.

    Financial Insights

    Value Estimation Calculated for Industrial

    Conservative
    $283.3K
    NOI $25,500 @ 9.00% cap · cautious / downside scenario
    Moderate
    $364.3K
    NOI $25,500 @ 7.00% cap · market / base-case scenario
    Aggressive
    $510.0K
    NOI $25,500 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Industrial

    Component $ $/SF
    Gross rent $37.3k $21.60
    − Vacancy −$896 −$0.52
    EGI $36.4k $21.08
    − OpEx −$10.9k −$6.32
    NOI $25.5k $14.76
    1,728 SF · lease $21.60/SF/yr · vacancy 2.40% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Industrial
    $364.3K
    $318.8K – $425.0K (±1% cap)
    NOI $25,500 @ 7.0% cap · market cap 7.54%
    Second Best
    Office B
    $271.9K
    $238.0K – $317.3K (±1% cap)
    NOI $19,036 @ 7.0% cap · market cap 5.63%
    Theoretical Best
    Multifamily LT 5
    $21.49M
    $18.80M – $25.07M (±1% cap)
    NOI $1,504,170 @ 7.0% cap · market cap 445.02%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Haven
    County
    Ottawa
    State
    Michigan
    Longitude
    -86.223603
    Latitude
    43.049389

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      Modern Flex Space Development

      Modern, flexible commercial spaces designed for entrepreneurs and small businesses.
      1500 Kooiman Avenue, Grand Haven, MI 49417
      View Details
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    FAQs

    What type of property is this?
    Flex space - Modern, flexible commercial spaces designed for entrepreneurs and small businesses.
    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 $338,000.
    What are key features of this property?
    This property features: Flexible commercial spaces available in 1,248 sq ft and 1,728 sq ft options.; Under construction, allowing for customization with generous allowances for finishes and multiple upgrade options.; Features a **14' x 16' insulated overhead door with an additional 3' entry door.**
    (616) 638-3900
    We can help!
    Listing Contact
    Sandi L Gentry
    Sandi L Gentry
    Real Estate License ID: 6502359178
    Learn More
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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
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