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    Holland Industrial Condos For Rent Title is generated by Realmo AI

    72 W 64th Street, Holland, MI 49423

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    Claim this Listing
    Pending
    $7 SF/Yr $4,579/Mo (calc)

    COMMERCIAL - Holland, MI

    Property size:
    7,850 SF
    Lot size:
    9,636.00 Acres
    Added:
    Sep 30, 2024
    Days on Market:
    599
    Last Refresh:
    May 21 at 3:06 am

    Property Features for 72 W 64th Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Property condition
    Under Construction
    Parking features
    Driveway
    Fireplace
    1
    Standard status
    Pending
    APN
    53-02-17-102-716
    Size
    7,850 SF
    Lot size
    9,636.00 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    RUNWAY VIEW INDUSTRIAL PARK CONDOMINIUM UNIT 10 SPLIT/COMBINED ON 02/11/2022 FROM 03-02-17-100-033;

    Utilities

    Utilities
    Natural Gas Available
    Heating system
    Forced Air

    Building Details

    Year built
    2024

    We can help!

    Listing Contact
    Thomas S Postma
    Thomas S Postma

    Listing agent Thomas S Postma License #6502135442

    Listing office Lakeshore Commercial Real Estate 44 E 8th Street # 510, Holland, MI

    Listing date Sep 30, 2024

    MLS# 24051402

    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

    • Brand‑new Industrial Condos offering up to 19,272 SF.
    • Convenient access to M‑40, US 31, and I‑96.
    • Located at Runway Industrial Park on Holland's Southside.
    • Close proximity to West Michigan Regional Airport.
    • 198 Tax Abatement available.
    • Built in 2024.

    Overview

    Up to 19,272 square feet of brand-new industrial condos are available for rent at Runway Industrial Park, located on Holland's Southside. The location provides convenient access to M-40, US 31, and the I-96 interchange, with close proximity to West Michigan Regional Airport. These industrial condos are suitable for various industrial needs. A 198 Tax Abatement is available. The property is located at 72 W 64th Street, Holland, MI 49423, in Allegan County. The lot size is 9636 acres, and the property size is 7850 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    1-800 Office Solutions Computer & Electronic Repair Hyperion Automation Production Facility

    Suggested Use

    Restaurant Spa & Massage Center Building Supply Hair Salon Nail Salon Big Box & Wholesale Store Department Store Auto Parts Store Auto Repair Shop Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Holland
    County
    Ottawa
    State
    Michigan
    Longitude
    -86.110104
    Latitude
    42.738129

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    FAQs

    What type of property is this?
    Flex space - New industrial condos available in Holland, near West Michigan Airport.
    Where is this flex space located?
    The property is located at 72 W 64th Street Holland, MI.
    What is the lease rate?
    The lease rate is $7 SF/Yr.
    What are key features of this property?
    This property features: Brand‑new Industrial Condos offering up to 19,272 SF.; Convenient access to M‑40, US 31, and I‑96.; Located at Runway Industrial Park on Holland's Southside.
    (616) 394-4500
    We can help!
    Listing Contact
    Thomas S Postma
    Thomas S Postma
    Real Estate License ID: 6502135442
    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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