Multi-Tenant Shopping
For Sale
$5,060,000
1149 S Washington, Holland, MI 49424
Four buildings provide a multi-suite retail configuration on a 3.3-acre site.
Property Size43,243 SF
Lot Size3.30 Acres
Price / SF$117.01
Days on Market179
Property Features for 1149 S Washington
General Information
Standard status
Active
Size
43,243 SF
Lot size
3.30 Acres
Property subtype
Commercial/Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2005
Buildings
4
Tenancy
Multi
Listed By:
J.A. BACHLER
(810) 765-8895
Source:
Jabachler
Added: May 4
Changed: Oct 27
Last Checked: Oct 27 at 3:56AM
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 J.A. BACHLER
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2005, this multi-tenant retail center comprises four buildings with 43,243 square feet of total area, including 40,642 rentable square feet. The property occupies 3.3 acres in Holland, Michigan.
The center is on S Washington Avenue, also identified as the US-31 Business Route, north of Exit 47 for I-196/US-31. It is next to Family Fare on Holland’s south side.
The center is on S Washington Avenue, also identified as the US-31 Business Route, north of Exit 47 for I-196/US-31. It is next to Family Fare on Holland’s south side.
Key Highlights
- Four‑building shopping center totaling 43,243 square feet, with 40,642 rentable square feet
- 3.3‑acre site in Holland, Michigan
- Built in 2005
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$448,901
Cap Rate
8.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,978,020
$9.0M
Cap Rate 7%
$6,412,871
$6.4M
Cap Rate 9%
$4,987,789
$5.0M
Market Conditions
NOI Build-Up for 43,243 SF
Gross rent
$669.4K $15.48/SF
− Vacancy
−$28.1K −$0.65/SF
EGI
$641.3K $14.83/SF
− OpEx
−$192.4K −$4.45/SF
NOI
$448.9K $10.38/SF
Area
Ottawa County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,978,020
Cap Rate 7%
$6,412,871
Cap Rate 9%
$4,987,789
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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
495
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49424, MI
47,963
Population
19,906
Households
2.4
Avg Household Size
38
Median Age
34%
College-Educated
89%
High-School Grad
57.3 sq mi
ZIP Area
837
Density / Sq Mi
$82,353
Median Household Income
$41,316
Median Earnings
$1,157
Median Rent
$270,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Tc Customs — 740 Washington Ave, Holland, MI 49423, United States
Frequently Asked Questions
What type of property is this?
Shopping center - Four buildings provide a multi-suite retail configuration on a 3.3-acre site.
Where is this shopping center located?
The property is located at 1149 S Washington 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: Four‑building shopping center totaling 43,243 square feet, with 40,642 rentable square feet; 3.3‑acre site in Holland, Michigan; Built in 2005
