Multi-Tenant Retail Shopping
For Sale
$5,060,000
1149 S Washington Avenue, Holland, MI 49423
COMMERCIAL - Holland, MI
Property Size43,243 SF
Lot Size3.33 Acres
Price / SF$117.01
Days on Market95
Property Features for 1149 S Washington Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
C-2
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking
130
Interior features
Broadband
Elementary school district
Holland
Middle school district
Holland
High school district
Holland
Standard status
Active
APN
53-02-05-300-103
Size
43,243 SF
Lot size
3.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PART SW1/4 SW1/4 COM 1328.16 FT S & 63.14 FT E OF W1/4 COR TH N 80 FT TH E 181.1 FT TH S 80 FT TH E 118.81 FT TH S 435.6
Tax Annual Amount
71006
Legal Description
PART SW1/4 SW1/4 COM 1328.16 FT S & 63.14 FT E OF W1/4 COR TH N 80 FT TH E 181.1 FT TH S 80 FT TH E 118.81 FT TH S 435.6
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2005
Floors in Building
1
Number of units
1
Building materials
Aluminum Siding, Stucco, Brick, Stone
Roof type
Rubber
Listing Agency:
Lakeshore Commercial Real Estate
(616) 394-4500
Listed By:
Michael Nagelkirk · License #6501194952
(616) 836-1122
Added: May 4
Changed: Aug 4
Last Checked: Aug 6 at 7:06AM
MLS# 26020012
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.
This multi-tenant retail shopping center includes four buildings totaling 43,243 square feet, with 40,642 square feet designated as rentable space, situated on 3.33 acres. The center is configured to support multiple retail tenants within a neighborhood retail format.
The property is located at 1149 S Washington Avenue in Holland, Michigan, positioned adjacent to Holland’s south-side Family Fare on the US-31 Business Route (S Washington Ave). The listing notes the site sits just north of Exit 47 on I-196/US-31 and provides direct access to this primary north-south arterial.
With its established neighborhood retail setting along a heavily traveled corridor, the center is designed to provide durable flexibility across its multi-building layout.
The property is located at 1149 S Washington Avenue in Holland, Michigan, positioned adjacent to Holland’s south-side Family Fare on the US-31 Business Route (S Washington Ave). The listing notes the site sits just north of Exit 47 on I-196/US-31 and provides direct access to this primary north-south arterial.
With its established neighborhood retail setting along a heavily traveled corridor, the center is designed to provide durable flexibility across its multi-building layout.
Key Highlights
- Multi‑tenant retail shopping center with four buildings totaling 43,243 SF and 40,642 rentable SF
- 3.3‑acre site with space designed for multi‑tenant use and long‑term flexibility
- Built in 2005; exterior includes aluminum siding, stucco, brick, and stone
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $669.4k | $15.48 |
| − Vacancy | −$28.1k | −$0.65 |
| EGI | $641.3k | $14.83 |
| − OpEx | −$192.4k | −$4.45 |
| NOI | $448.9k | $10.38 |
43,243 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$6.41M
$5.61M – $7.48M
NOI $448,901 @ 7.0% cap · market cap 8.87%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$537.74M
$470.52M – $627.36M
NOI $37,641,690 @ 7.0% cap · market cap 743.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
438
Businesses Nearby
Under-served
Demand for This Use
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Four-building shopping center offering 40,642 rentable square feet on 3.33 acres in Holland, MI.
Where is this shopping center located?
The property is located at 1149 S Washington Avenue Holland, MI.
What is the asking price?
The asking price for this property is $5,060,000.
What are key features of this property?
This property features: Multi‑tenant retail shopping center with four buildings totaling 43,243 SF and 40,642 rentable SF; 3.3‑acre site with space designed for multi‑tenant use and long‑term flexibility; Built in 2005; exterior includes aluminum siding, stucco, brick, and stone
