Office Unit with Open
For Sale
$910,000
85 E 8th Street Unit 250, Holland, MI 49423
3,237 SF office unit with flexible open layout.
Property Size3,237 SF
Price / SF$281.12
Days on Market1051
Property Features for 85 E 8th Street Unit 250
General Information
Standard status
Active
Size
3,237 SF
Property subtype
General Commercial
Amenities
3
Building Details
Year Built
2002
Listing Agency:
Lakeshore Commercial Real Estates
(616) 394-4500
Listed By:
Lakeshore Commercial Real Estate · License #6501331667
Source:
Xome
Added: Sep 27, 2023
Changed: Aug 8
Last Checked: Aug 8 at 4:40AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lakeshore Commercial Real Estates
Investment Insights
Based on property information with market context.
Unit 10 / Suite 250A, located on the 2nd floor of Plaza Center, offers 3,237 square feet of finished office space. The suite includes a small kitchenette and a conference room. The large open area provides flexibility for co-working or collaborative spaces. It also allows for the construction of private offices. Windows wrap around the south side of the building, offering views of 8th Street.
Key Highlights
- Large 3,237 SF space offering flexibility for co‑working or private offices.
- Located on the 2nd floor of Plaza Center in Suite 250.
- South‑facing windows provide excellent views of 8th Street.
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
$35,660
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
3.92%
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%
$713,200
$713.2K
Cap Rate 7%
$509,429
$509.4K
Cap Rate 9%
$396,222
$396.2K
Market Conditions
NOI Build-Up for 3,237 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
$55.2K $17.04/SF
− Vacancy
−$7.6K −$2.35/SF
EGI
$47.5K $14.69/SF
− OpEx
−$11.9K −$3.67/SF
NOI
$35.7K $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%
$713,200
Cap Rate 7%
$509,429
Cap Rate 9%
$396,222
Alternative Uses
Best Use
Office B
$509.4K
$445.8K – $594.3K
NOI $35,660 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$40.25M
$35.22M – $46.96M
NOI $2,817,708 @ 7.0% cap · market cap 309.64%
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 - 3,237 SF office unit with flexible open layout.
Where is this office units located?
The property is located at 85 E 8th Street Unit 250 Holland, MI.
What is the asking price?
The asking price for this property is $910,000.
What are key features of this property?
This property features: Large 3,237 SF space offering flexibility for co‑working or private offices.; Located on the 2nd floor of Plaza Center in Suite 250.; South‑facing windows provide excellent views of 8th Street.
