Flex Space with Built
For Sale
$575,000
791 Case Karsten Drive, Zeeland, MI 49464
COMMERCIAL - Zeeland, MI
Property Size2,128 SF
Lot Size4.05 Acres
Price / SF$270.21
Days on Market14
Property Features for 791 Case Karsten Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Zeeland
Middle school district
Zeeland
High school district
Zeeland
Directions
E on 196, N onto Fairview Rd, W onto Riley St, S onto Case Karsten Dr. Units on the corner of Case Karsten Dr and Riley.
Standard status
Active
APN
70-17-18-203-001
Size
2,128 SF
Lot size
4.05 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT 1. DRAWFORM PLAT - UNITS 1 & 2
Tax Annual Amount
152
Legal Description
LOT 1. DRAWFORM PLAT - UNITS 1 & 2
Utilities
Heating system
Radiant
Amenities
Full kitchen with commercial grade appliances
Solid surface countertops
Cupboard storage
Built mezzanine with hangout space
Designated office
Storage space
7 mounted speakers
LED party lights
188 inch projector
Uneekor golf simulator
Mounted basketball hoop
Pickleball court
Building Details
Year built
2025
Floors in Building
1
Number of units
1
Building materials
Metal Siding
Roof type
Composition
Listing Agency:
Coldwell Banker Woodland Schmidt ART Office
(616) 772-5478
Listed By:
Derrek Sterken · License #6501451743
(616) 403-3442
Added: Jul 30
Changed: Aug 4
Last Checked: Aug 12 at 11:06PM
MLS# 26039564
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 2,128 SF flex space on a 4.05-acre lot is fully finished and designed for a hangout-and-hosting style user. The space includes a full kitchen with commercial-grade appliances, solid surface countertops, and ample cupboard storage. A built mezzanine creates an elevated hangout area above the main floor, along with a designated office and additional storage.
On the recreation side, the unit is set up with a mounted basketball hoop, a Uneekor golf simulator, and an entertainment setup including a 188'' projector and mounted speakers with LED party lights. Radiant heating is provided, and the building features metal siding with a composition roof. Built in 2025, the unit is ready for immediate occupancy.
The layout supports multi-use programming within a single controlled space, combining kitchen amenities, work space, and dedicated recreation and entertainment elements.
On the recreation side, the unit is set up with a mounted basketball hoop, a Uneekor golf simulator, and an entertainment setup including a 188'' projector and mounted speakers with LED party lights. Radiant heating is provided, and the building features metal siding with a composition roof. Built in 2025, the unit is ready for immediate occupancy.
The layout supports multi-use programming within a single controlled space, combining kitchen amenities, work space, and dedicated recreation and entertainment elements.
Key Highlights
- 2,128 SF fully finished flex space on 4.05‑acre lot
- Built in 2025 with radiant heating and composition roof
- Built mezzanine hangout area plus designated office and storage
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
$31,403
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
5.46%
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%
$628,060
$628.1K
Cap Rate 7%
$448,614
$448.6K
Cap Rate 9%
$348,922
$348.9K
Market Conditions
NOI Build-Up for 2,128 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
$46.0K $21.60/SF
− Vacancy
−$1.1K −$0.52/SF
EGI
$44.9K $21.08/SF
− OpEx
−$13.5K −$6.32/SF
NOI
$31.4K $14.76/SF
Area
Ottawa County, MI
Vacancy
2.40%
Lease Rate
$21.60 /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%
$628,060
Cap Rate 7%
$448,614
Cap Rate 9%
$348,922
Alternative Uses
Best Use
Industrial
$448.6K
$392.5K – $523.4K
NOI $31,403 @ 7.0% cap · market cap 5.46%
Second Best
Flex RnD
$108.7K
$95.1K – $126.8K
NOI $7,610 @ 7.0% cap · market cap 1.32%
Theoretical Best
Multifamily LT 5
$26.46M
$23.15M – $30.87M
NOI $1,852,358 @ 7.0% cap · market cap 322.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49464, MI
29,654
Population
11,001
Households
2.7
Avg Household Size
37
Median Age
35%
College-Educated
95%
High-School Grad
73.1 sq mi
ZIP Area
406
Density / Sq Mi
$97,573
Median Household Income
$47,030
Median Earnings
$976
Median Rent
$316,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Newly built flex space featuring a built mezzanine, designated office, and radiant heating.
Where is this flex space located?
The property is located at 791 Case Karsten Drive Zeeland, MI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2,128 SF fully finished flex space on 4.05‑acre lot; Built in 2025 with radiant heating and composition roof; Built mezzanine hangout area plus designated office and storage
