Storage Condo Units with Overhead
460 Cleveland Avenue Holland, MI 49423
460 Cleveland Avenue, Holland, MI, 49423
$1,090,000
For Sale
$1,090,000
COMMERCIAL - Holland, MI
Property Size5,760 SF
Lot Size1.11 Acres
Price / SF$189.24
Days on Market767
Property Features for 460 Cleveland Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Property condition
- Under Construction
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bathroom 3, Bathroom 1
- Interior features
- Broadband
- Standard status
- Active
- APN
- 70-16-31-209-001
- Size
- 5,760 SF
- Lot size
- 1.11 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- LOTS 46 TO 59 INCLUSIVE, ALSO S 1/2 OF VAC 19TH ST & ALL OF VAC ALLEY ADJ TO SD LOTS. WEERSING'S 1ST ADD SEC 31 T5N R15
- Tax Annual Amount
- 28865
Utilities
- Utilities
- Cable Available
- Heating system
- Forced Air
Building Details
- Year built
- 2025
- Floors in Building
- 1
- Number of units
- 3
- Building materials
- Metal Siding
Listing Agency
Lakeshore Commercial Real Estate
(616) 394-4500
44 E 8th Street # 510, Holland, MI
Listed by
Thomas S Postma · License #6502135442
(616) 394-4500
Added: Jun 10, 2024 Checked: Jul 16 at 6:06 pm
MLS# 24029234
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 offering features 11 newly built storage building/condo units designed for straightforward drive-up and loading access. Each unit includes a 22'+ ceiling height, a 14' x 16' overhead door with an operator, as well as front and rear service doors. Unit sizes range from 1,920 to 5,760 square feet, providing multiple buying options depending on storage needs.
The property is located at 460 Cleveland Avenue in Holland, Michigan, in Ottawa County. It is described as being close to Lake Macatawa, which may appeal to buyers needing storage for boats and related equipment.
With units available in a condo format, this configuration can fit buyers looking for discrete, individually owned storage spaces rather than a single, undivided warehouse. The current status indicates 5 condo units are under contract and 6 condo units remain, supporting a continued mix of purchase sizes and potential buyer timelines.
The property is located at 460 Cleveland Avenue in Holland, Michigan, in Ottawa County. It is described as being close to Lake Macatawa, which may appeal to buyers needing storage for boats and related equipment.
With units available in a condo format, this configuration can fit buyers looking for discrete, individually owned storage spaces rather than a single, undivided warehouse. The current status indicates 5 condo units are under contract and 6 condo units remain, supporting a continued mix of purchase sizes and potential buyer timelines.
Key Highlights
- 11 newly built storage building/condo units with multiple sizes ranging from 1,920–5,760 SF
- 22'+ ceiling height in the storage units
- Each unit includes a 14' x 16' overhead door with operator plus front and rear service doors
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $124.4k | $21.60 |
| − Vacancy | −$3.0k | −$0.52 |
| EGI | $121.4k | $21.08 |
| − OpEx | −$36.4k | −$6.32 |
| NOI | $85.0k | $14.76 |
5,760 SF · lease $21.60/SF/yr · vacancy 2.40% · expense 30.00%
Alternative Uses
Best Use
Industrial
$1.21M
$1.06M – $1.42M
NOI $85,001 @ 7.0% cap · market cap 7.80%
Second Best
Self Storage
$796.0K
$696.5K – $928.7K
NOI $55,723 @ 7.0% cap · market cap 5.11%
Theoretical Best
Multifamily LT 5
$71.63M
$62.67M – $83.57M
NOI $5,013,901 @ 7.0% cap · market cap 459.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Self storage facilities
Similar For Sale Nearby
FAQs
What type of property is this?
Self storage facility - Newly built storage condo units with high ceilings and overhead access, offering flexible buying options for multiple operators.
Where is this self storage facility located?
The property is located at 460 Cleveland Avenue Holland, MI.
What is the asking price?
The asking price for this property is $1,090,000.
What are key features of this property?
This property features: 11 newly built storage building/condo units with multiple sizes ranging from 1,920–5,760 SF; 22'+ ceiling height in the storage units; Each unit includes a 14' x 16' overhead door with operator plus front and rear service doors
