Community Retail
For Sale
$1,200,000
2522 Van Ommen Drive, Holland, MI 49424
Commercial Sale, Holland, MI
Property Size8,190 SF
Lot Size0.77 Acres
Price / SF$146.52
Days on Market74
Property Features for 2522 Van Ommen Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C-2
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking
20
Interior features
Broadband
Elementary school district
West Ottawa
Middle school district
West Ottawa
High school district
West Ottawa
Directions
US 31 to James St, West to Van Ommen Dr, North to address.
Standard status
Active
APN
70-16-16-377-013
Size
8,190 SF
Lot size
0.77 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 6, EXC N 115 FT VAN OMMEN PLAT
Tax Annual Amount
12678
Legal Description
LOT 6, EXC N 115 FT VAN OMMEN PLAT
Utilities
Utilities
Cable Available
Heating system
Forced Air, Space Heater
Cooling system
Central Air
Building Details
Year built
1979
Number of units
1
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
Keller Williams Harbortown · Keller Williams Realty
(616) 288-3244
Listed By:
Phil Nykamp
(616) 377-9700
Added: Jul 6
Changed: Sep 16
Last Checked: Sep 17 at 1:06AM
MLS# 26034328
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 8,190-square-foot retail building was constructed in 1979 on a 0.77-acre parcel. The property has metal siding, a metal roof, central air, forced-air heating, and a bathroom. Broadband and cable service are available, supporting a range of commercial applications within the existing building.
The site fronts US-31 for 122 feet and is positioned across from West Shore Mall. Van Ommen Drive provides a service-drive connection between James Street and Felch Drive. Nearby businesses include ABC Warehouse, Discount Tire, Sam's Club, Tommy Car Wash, and Value Place Hotel. The property is located within the C-2 community commercial district, which supports the sale of commodities and community-oriented services.
The site fronts US-31 for 122 feet and is positioned across from West Shore Mall. Van Ommen Drive provides a service-drive connection between James Street and Felch Drive. Nearby businesses include ABC Warehouse, Discount Tire, Sam's Club, Tommy Car Wash, and Value Place Hotel. The property is located within the C-2 community commercial district, which supports the sale of commodities and community-oriented services.
Key Highlights
- 8,190‑square‑foot commercial building on 0.77 acres
- 122 feet of frontage along US‑31
- Located across from West Shore Mall
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
$85,019
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
7.08%
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%
$1,700,380
$1.7M
Cap Rate 7%
$1,214,557
$1.2M
Cap Rate 9%
$944,656
$944.7K
Market Conditions
NOI Build-Up for 8,190 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
$126.8K $15.48/SF
− Vacancy
−$5.3K −$0.65/SF
EGI
$121.5K $14.83/SF
− OpEx
−$36.4K −$4.45/SF
NOI
$85.0K $10.38/SF
Area
Ottawa County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
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%
$1,700,380
Cap Rate 7%
$1,214,557
Cap Rate 9%
$944,656
Alternative Uses
Best Use
Retail
$1.21M
$1.06M – $1.42M
NOI $85,019 @ 7.0% cap · market cap 7.08%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$101.84M
$89.11M – $118.82M
NOI $7,129,141 @ 7.0% cap · market cap 594.10%
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
616
Businesses Nearby
Explore this area
Business Placement
Demographics for 49424, MI
47,963
Population
19,906
Households
2.4
Avg Household Size
38
Median Age
34%
College-Educated
89%
High-School Grad
57.3 sq mi
ZIP Area
837
Density / Sq Mi
$82,353
Median Household Income
$41,316
Median Earnings
$1,157
Median Rent
$270,000
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Commercially zoned property with direct US-31 exposure and nearby national retail and service businesses.
Where is this retail space located?
The property is located at 2522 Van Ommen Drive Holland, MI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 8,190‑square‑foot commercial building on 0.77 acres; 122 feet of frontage along US‑31; Located across from West Shore Mall
