Unfinished Office Suite with
For Sale
$825,705
85 E 8th Street, Holland, MI 49423
COMMERCIAL - Holland, MI
Property Size3,236 SF
Lot Size1.82 Acres
Price / SF$255.16
Days on Market903
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
70-16-29-287-707
Size
3,236 SF
Lot size
1.82 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
UNIT 7. 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
40965
Legal Description
UNIT 7. 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
1
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 21 at 1:06AM
MLS# 24010592
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.
Suite 210 is an unfinished office space located on the second floor, offering a total of 3,236 SF. With the interior not yet built out, the layout can be tailored to suit a buyer’s custom floor plan needs.
The suite is served by multiple large north-facing windows, bringing natural light into the space.
The property is offered for sale and includes land totaling 1.82 acres, providing a standalone commercial site setting for an office user or investor.
The suite is served by multiple large north-facing windows, bringing natural light into the space.
The property is offered for sale and includes land totaling 1.82 acres, providing a standalone commercial site setting for an office user or investor.
Key Highlights
- 3,236 SF of unfinished space allows for custom floor plan and creative design.
- Multiple large, north‑facing windows provide abundant natural light.
- Located on the 2nd floor.
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
$35,649
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
4.32%
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%
$712,980
$713.0K
Cap Rate 7%
$509,271
$509.3K
Cap Rate 9%
$396,100
$396.1K
Market Conditions
NOI Build-Up for 3,236 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
$55.1K $17.04/SF
− Vacancy
−$7.6K −$2.35/SF
EGI
$47.5K $14.69/SF
− OpEx
−$11.9K −$3.67/SF
NOI
$35.6K $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%
$712,980
Cap Rate 7%
$509,271
Cap Rate 9%
$396,100
Alternative Uses
Best Use
Office B
$509.3K
$445.6K – $594.2K
NOI $35,649 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$40.24M
$35.21M – $46.95M
NOI $2,816,838 @ 7.0% cap · market cap 341.14%
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?
Office units - Unfinished second-floor office suite offers 3,236 SF and multiple large north-facing windows for natural light.
Where is this office units located?
The property is located at 85 E 8th Street Holland, MI.
What is the asking price?
The asking price for this property is $825,705.
What are key features of this property?
This property features: 3,236 SF of unfinished space allows for custom floor plan and creative design.; Multiple large, north‑facing windows provide abundant natural light.; Located on the 2nd floor.
