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    80 W 64th Avenue Holland, MI 49423

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    Claim this Listing
    Pending
    $5 SF/Yr

    COMMERCIAL - Holland, MI

    Property size:
    15,360 SF
    Added:
    Aug 9, 2021
    Days on Market:
    1712
    Last Refresh:
    Apr 16 at 11:06 am

    Property Features for 80 W 64th Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Property condition
    Under Construction
    Fireplace
    1
    Standard status
    Pending
    APN
    03-02-17-100-029
    Size
    15,360 SF

    Taxes and HOA fees

    Tax Description
    COM N 1/4 COR SEC 17 TH S 89D 56M 05S W ALG N LI NW 1/4 SD SEC 801.15 FT TO POB TH S 00D 00M 14S W 1026.77 FT TO NLY ROW LI I-196 TH S 89D 53M 39S W ALG SD NLY LI 524.20 FT TO E LI AIRPORT INDUSTRIAL PARK TH N 00D 07M 36S W ALG SD E LI 1027.14 FT TO N LI NW 1/4 SD SEC TH N 89D 56M 05S E ALG SD N LI 526.54 TO POB SEC 17 T4N R15W

    Utilities

    Utilities
    Natural Gas Available
    Heating system
    Forced Air

    Building Details

    Year built
    2021

    We can help!

    Listing Contact
    Thomas S Postma
    Thomas S Postma

    Listing agent Thomas S Postma License #6502135442

    Listing office Colliers International Holland MI

    Listing date Aug 9, 2021

    MLS# 21099538 Listing URL

    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 Building in Holland

    A new industrial building, the first phase of a two-part project, is scheduled for completion in the Fall of 2021. Located on Holland's southside, the property is near the West Michigan Regional Airport and provides convenient access to M-40, US-31, and the I-196 interchange. Multiple suite options are available, ranging in size from 3,840 to 37,375 square feet, and can accommodate multiple tenants. As an example, Suite 1 offers 3,840 square feet, including 750 square feet of office space, two 14 x 16 overhead doors, and restrooms in both the office and warehouse areas. The property's parcel number is 53-02-17-100-033, located in Allegan County.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Map

    City
    Holland
    County
    Ottawa
    State
    Michigan
    Longitude
    -86.109489
    Latitude
    42.738301

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    FAQs

    What type of property is this?
    Flex space - Industrial suites available for lease or sale in Holland, MI.
    Where is this flex space located?
    The property is located at 80 W 64th Avenue Holland, MI.
    What is the lease rate?
    The lease rate is $5 SF/Yr.
    What are key features of this property?
    This property features: New industrial building completed in Fall 2021 (Phase I of II).; Multiple suite options available from 3,840 SF - 37,375 SF for lease or sale.; Easy access to M‑40, US‑31, and I‑196 interchange.
    (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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