Second-Floor Office Suite with Flex
For Sale
$2,525,950
85 E 8th Street, Holland, MI 49423
COMMERCIAL - Holland, MI
Property Size8,343 SF
Lot Size1.82 Acres
Price / SF$302.76
Days on Market913
Property Features for 85 E 8th Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
F-CDT
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Broadband
Elementary school district
Holland
Middle school district
Holland
High school district
Holland
Directions
Northeast corner of E 8th Street and College Ave
Subdivision
Holland/Saugatuck - H
Standard status
Active
APN
70-16-29-287-708
Size
8,343 SF
Lot size
1.82 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
UNIT 8. PLAZA CENTER SEC 29 T5N R15W FROM 70-16-29-281-035,-036 2/03 BOUNDARY CHANGE PER 3RD AMENDMENT L5460 P745 9/07
Tax Annual Amount
90870
Legal Description
UNIT 8. PLAZA CENTER SEC 29 T5N R15W FROM 70-16-29-281-035,-036 2/03 BOUNDARY CHANGE PER 3RD AMENDMENT L5460 P745 9/07
Utilities
Utilities
Cable Available
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Building Details
Year built
2002
Floors in Building
3
Number of units
2
Building materials
Brick
Listing Agency:
Lakeshore Commercial Real Estate
(616) 394-4500
Listed By:
Jason DeWitt
(616) 394-4500
Added: Mar 1, 2024
Changed: Aug 4
Last Checked: Aug 31 at 7:06AM
MLS# 24010623
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.
For sale, Suite 230 on the second floor is part of an 8,343 SF office space currently finished with five private offices and multiple open, flexible areas suited for co-working or collaboration. The suite includes a large break area overlooking the north side of the property, supported by floor-to-ceiling windows.
The opportunity can be expanded by combining Suite 230 with the unfinished Suite 210, giving the buyer flexibility to design a custom floor plan for the additional unfinished portion based on their space needs.
The property is located at 85 E 8th Street in Holland, MI 49423, in Ottawa County.
The opportunity can be expanded by combining Suite 230 with the unfinished Suite 210, giving the buyer flexibility to design a custom floor plan for the additional unfinished portion based on their space needs.
The property is located at 85 E 8th Street in Holland, MI 49423, in Ottawa County.
Key Highlights
- Flexible space with finished offices, open areas, and a break area, plus unfinished portions for customization.
- Large break area featuring floor‑to‑ceiling windows overlooking the north side of the property.
- Potential to combine with adjacent suite 210 for expanded space.
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
$91,909
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
3.64%
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%
$1,838,180
$1.8M
Cap Rate 7%
$1,312,986
$1.3M
Cap Rate 9%
$1,021,211
$1.0M
Market Conditions
NOI Build-Up for 8,343 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
$142.2K $17.04/SF
− Vacancy
−$19.6K −$2.35/SF
EGI
$122.5K $14.69/SF
− OpEx
−$30.6K −$3.67/SF
NOI
$91.9K $11.02/SF
Area
Ottawa County, MI
Vacancy
13.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,838,180
Cap Rate 7%
$1,312,986
Cap Rate 9%
$1,021,211
Alternative Uses
Best Use
Office B
$1.31M
$1.15M – $1.53M
NOI $91,909 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$103.75M
$90.78M – $121.04M
NOI $7,262,323 @ 7.0% cap · market cap 287.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,269
Businesses Nearby
Explore this area
Business Placement
Demographics for 49423, MI
46,870
Population
19,019
Households
2.5
Avg Household Size
37
Median Age
37%
College-Educated
92%
High-School Grad
77.9 sq mi
ZIP Area
602
Density / Sq Mi
$78,524
Median Household Income
$36,643
Median Earnings
$1,143
Median Rent
$254,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Coworking space - Finished Suite 230 offers private offices, open coworking areas, and a large break area with floor-to-ceiling windows.
Where is this coworking space located?
The property is located at 85 E 8th Street Holland, MI.
What is the asking price?
The asking price for this property is $2,525,950.
What are key features of this property?
This property features: Flexible space with finished offices, open areas, and a break area, plus unfinished portions for customization.; Large break area featuring floor‑to‑ceiling windows overlooking the north side of the property.; Potential to combine with adjacent suite 210 for expanded space.
