Light Industrial Flex
For Sale
$1,495,000
11128 James Street Zeeland, Zeeland, MI 49464
Industrial and flex space with office, 14' clear height, and multiple overhead doors including one dock.
Property Size12,000 SF
Price / SF$124.58
Days on Market48
Property Features for 11128 James Street Zeeland
General Information
Standard status
Active
Size
12,000 SF
Zoning
I1
Warehouse & Industrial
Clear Height
14 ft
Dock-High Doors
1
Drive-In Doors
2
Heavy Power
Yes
Taxes and HOA fees
Annual Taxes
$11,250
Building Details
Building Size
12,000 SF
Year Built
2001
Buildings
1
Listing Agency:
City2Shore Arete Collection Inc
(616) 662-9664
Listed By:
Yolanda Moumouni
(616) 662-9664
Source:
City2shore
Added: Jul 10
Changed: Aug 25
Last Checked: Aug 26 at 7:05AM
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 City2Shore Arete Collection Inc
Investment Insights
Based on property information with market context.
This commercial and industrial facility offers 12,000 SF of flexible space designed for light industrial, contractor, or storage use. The layout includes 2,300 SF of office space with four private offices, an open work area with semi-private offices, plus a conference room and break room.
The warehouse area is served by two 12x14 overhead doors and one dock. Additional functional features include 200 amps of 3-phase power and 14' clear height.
The property is located on James St in Holland, MI, providing a combined office-and-warehouse configuration suitable for operations that require both workspace and functional loading access.
The warehouse area is served by two 12x14 overhead doors and one dock. Additional functional features include 200 amps of 3-phase power and 14' clear height.
The property is located on James St in Holland, MI, providing a combined office-and-warehouse configuration suitable for operations that require both workspace and functional loading access.
Key Highlights
- 12,000 SF commercial/industrial space available on James St in Holland
- Includes 2,300 SF office space with 4 private offices, open area, semi‑private offices, conference room, and break room
- 14' clear height with light industrial, contractor, or storage use
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
$42,916
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
2.87%
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%
$858,320
$858.3K
Cap Rate 7%
$613,086
$613.1K
Cap Rate 9%
$476,844
$476.8K
Market Conditions
NOI Build-Up for 12,000 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
$72.0K $6.00/SF
− Vacancy
−$6.0K −$0.50/SF
EGI
$66.0K $5.50/SF
− OpEx
−$23.1K −$1.93/SF
NOI
$42.9K $3.58/SF
Area
Ottawa County, MI
Vacancy
8.30%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
35.00%
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%
$858,320
Cap Rate 7%
$613,086
Cap Rate 9%
$476,844
Alternative Uses
Best Use
Industrial
$2.53M
$2.21M – $2.95M
NOI $177,085 @ 7.0% cap · market cap 11.85%
Second Best
Flex RnD
$613.1K
$536.5K – $715.3K
NOI $42,916 @ 7.0% cap · market cap 2.87%
Theoretical Best
Multifamily LT 5
$149.22M
$130.57M – $174.09M
NOI $10,445,628 @ 7.0% cap · market cap 698.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
1
Dock-high doors
2
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
288
Businesses Nearby
Under-served
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 - Industrial and flex space with office, 14' clear height, and multiple overhead doors including one dock.
Where is this flex space located?
The property is located at 11128 James Street Zeeland Zeeland, MI.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 12,000 SF commercial/industrial space available on James St in Holland; Includes 2,300 SF office space with 4 private offices, open area, semi‑private offices, conference room, and break room; 14' clear height with light industrial, contractor, or storage use
