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    721 E 48th Street unit C Holland, MI 49423

    View on Map
    For Lease
    $7 SF/Yr

    COMMERCIAL - Holland, MI

    Property size:
    37,800 SF
    Lot size:
    18.50 Acres
    Added:
    May 10, 2024
    Days on Market:
    697
    Last Refresh:
    Apr 6 at 1:06 am

    Property Features for 721 E 48th Street unit C

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Property condition
    Under Construction
    Fireplace
    1
    Standard status
    Active
    APN
    03-02-03-300-021
    Size
    37,800 SF
    Lot size
    18.50 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Call Listing Agent

    Utilities

    Utilities
    Cable Available
    Heating system
    Space Heater, Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    2025
    Number of units
    1
    Building materials
    Metal Siding
    Roof type
    Metal

    We can help!

    Listing Contact
    Michael Nagelkirk

    Listing agent Michael Nagelkirk License #6501194952

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

    Listing date May 10, 2024

    MLS# 24023502

    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.

    Overview

    New Industrial Warehouse in Holland

    This new construction industrial warehouse, totaling 37,800 square feet, is located in the South Holland Industrial Park, specifically at the northeast corner of Waverly Road and E 48th Street. The location provides convenient access to both US 31 and I-196. The property can be leased in its entirety or divided into two suites. Suite C offers 21,000 square feet, including 2,000 square feet of office space, while Suite D provides 16,800 square feet with 1,500 square feet of office space. The building features ceiling heights ranging from 24 to 27 feet. Each suite is equipped with two loading docks, one overhead door, central HVAC, natural gas/propane, and a sprinkler system. Ample power is available to suit various needs, with the specific amount deliverable based on advance notification to BPW. The building is situated on an 18.5-acre lot. Construction time is estimated to be 8 months from lease execution. The lease rate is $7 per square foot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Serveone America Industrial Manufacturer

    Suggested Use

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

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

    Similar Places Nearby

    • Holland Self Storage — 160 E 40th St, Holland, MI 49423
    • Cross Creek Self Storage — 1187 Central Ave, Holland, MI 49423
    • Stor-It — 1200 Central Ave, Holland, MI 49423

    Location Insight

    • Map
    • Local Demand
    City
    Holland
    County
    Ottawa
    State
    Michigan
    Longitude
    -86.076495
    Latitude
    42.755777

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    FAQs

    What type of property is this?
    Warehouse - New construction industrial warehouse space for lease in Holland, MI.
    Where is this warehouse located?
    The property is located at 721 E 48th Street unit C Holland, MI.
    What is the lease rate?
    The lease rate is $7 SF/Yr.
    What are key features of this property?
    This property features: New Construction: Built in 2025, offering modern design and features.; Divisible Space: Lease the entire 37,800 SF or individual suites (21,000 SF or 16,800 SF) with customizable office space.; Prime Location: Situated in South Holland Industrial Park with easy access to US 31 and I‑196.
    (616) 836-1122
    We can help!
    Listing Contact
    Michael Nagelkirk
    Real Estate License ID: 6501194952
    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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