Office Condo with Reception
For Sale
$349,900
3598 Green Pointe Center, Hamilton, MI 49419
COMMERCIAL - Hamilton, MI
Property Size1,954 SF
Lot Size0.76 Acres
Price / SF$179.07
Days on Market318
Property Features for 3598 Green Pointe Center
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
R-2
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Basement
Elementary school district
Hamilton
Middle school district
Hamilton
High school district
Hamilton
Directions
M-40 South to 136th, West to address
Subdivision
Holland/Saugatuck - H
Standard status
Active
APN
09-900-210-00
Size
1,954 SF
Lot size
0.76 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
UNIT 2 OF GREEN POINT OFFICE CENTER SEC 6 T3N R14W TAX MAP: 0.04 AC (08)
Tax Annual Amount
3195
Legal Description
UNIT 2 OF GREEN POINT OFFICE CENTER SEC 6 T3N R14W TAX MAP: 0.04 AC (08)
Utilities
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air
Amenities
spancrete floors
full basement
low-maintenance landscaping
kitchenette
restroom
Building Details
Year built
2006
Floors in Building
1
Number of units
1
Building materials
Brick
Roof type
Composition
Listing Agency:
Greenridge Realty Hamilton
(269) 751-7277
Listed By:
Jack Thomas Dekker · License #6501358291
(616) 648-6290
Added: Oct 8, 2025
Changed: Aug 4
Last Checked: Aug 21 at 5:06AM
MLS# 25051797
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 commercial office condo is offered for sale with a flexible layout designed for professional office use. The main level includes a reception area, a spacious conference area, and six private workspaces separated by cubicles. An on-site kitchenette includes a dishwasher and refrigerator, and the unit also has a restroom. The building features durable spancrete floors and a full basement that provides additional storage. Brick construction and low-maintenance landscaping help support a straightforward, move-in-ready ownership experience. Some office furniture could be included.
Located in Hamilton, MI, the property is described as being close to highly traveled M-40, supporting convenient visibility and accessibility.
With approximately 1,900 square feet of office area and a full basement for storage, this condo provides a practical interior configuration for teams needing both reception and meeting space alongside multiple individual workstations.
Located in Hamilton, MI, the property is described as being close to highly traveled M-40, supporting convenient visibility and accessibility.
With approximately 1,900 square feet of office area and a full basement for storage, this condo provides a practical interior configuration for teams needing both reception and meeting space alongside multiple individual workstations.
Key Highlights
- Prime location with excellent visibility and accessibility near M‑40.
- Move‑in‑ready commercial office condo with 1,900+ sq ft of flexible space.**
- Features a reception area, conference area, and six private workspaces.
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
$21,526
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
6.15%
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%
$430,520
$430.5K
Cap Rate 7%
$307,514
$307.5K
Cap Rate 9%
$239,178
$239.2K
Market Conditions
NOI Build-Up for 1,954 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
$33.3K $17.04/SF
− Vacancy
−$4.6K −$2.35/SF
EGI
$28.7K $14.69/SF
− OpEx
−$7.2K −$3.67/SF
NOI
$21.5K $11.02/SF
Area
Allegan County, MI
Vacancy
13.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
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%
$430,520
Cap Rate 7%
$307,514
Cap Rate 9%
$239,178
Alternative Uses
Best Use
Office B
$307.5K
$269.1K – $358.8K
NOI $21,526 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$18.35M
$16.06M – $21.41M
NOI $1,284,506 @ 7.0% cap · market cap 367.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
102
Businesses Nearby
Explore this area
Business Placement
Demographics for 49419, MI
8,720
Population
2,983
Households
2.9
Avg Household Size
37
Median Age
26%
College-Educated
96%
High-School Grad
73.2 sq mi
ZIP Area
119
Density / Sq Mi
$92,708
Median Household Income
$51,644
Median Earnings
$301,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office condo offering reception, conference space, private cubicle workspaces, kitchenette, restroom, and basement storage.
Where is this office units located?
The property is located at 3598 Green Pointe Center Hamilton, MI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Prime location with excellent visibility and accessibility near M‑40.; Move‑in‑ready commercial office condo with 1,900+ sq ft of flexible space.**; Features a reception area, conference area, and six private workspaces.
