End-Unit Medical Office
New
For Sale
$1,050,000
11595 E Lakewood Boulevard, Holland, MI 49424
COMMERCIAL - Holland, MI
Property Size6,000 SF
Price / SF$175
Days on Market3
Property Features for 11595 E Lakewood Boulevard
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
C-2
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 2, Bathroom 3, Bathroom 5, Bathroom 4, Bathroom 1
Parking
40
Elementary school district
West Ottawa
Middle school district
West Ottawa
High school district
West Ottawa
Directions
120th Ave to E Lakewood Blvd, East to property adddress
Standard status
Active
APN
70-16-22-263-007; -008; -009; -010; -011; -012
Size
6,000 SF
Taxes and HOA fees
Tax Year
2026
Tax Description
See Attached
Tax Annual Amount
17758
Legal Description
See Attached
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2002
Floors in Building
1
Number of units
1
Building materials
Vinyl Siding, Stone
Roof type
Composition
Listing Agency:
Coldwell Banker Woodland Schmidt · Coldwell Banker Real Estate
(616) 396-5221
Listed By:
The Jim and Bernie Team · License #6506041602
(616) 355-3650
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 15 at 7:06AM
MLS# 26042786
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 6,000-square-foot end-unit medical office property includes several private offices, reception areas, five bathrooms, a laundry room, and a substantial open area. The space is currently used as a physical therapy office and is served by forced-air heating and central air. Six separate entrances and exits provide flexibility for circulation, access, or potential separation of functions.
Located at 11595 E Lakewood Boulevard in Holland Charter Township, the property carries C-2 zoning and includes ample parking. Built in 2002, the building features vinyl siding and stone construction with a composition roof. Its existing layout combines office, support, and open-area components within a single commercial space.
Located at 11595 E Lakewood Boulevard in Holland Charter Township, the property carries C-2 zoning and includes ample parking. Built in 2002, the building features vinyl siding and stone construction with a composition roof. Its existing layout combines office, support, and open-area components within a single commercial space.
Key Highlights
- 6,000‑square‑foot end‑unit medical office property
- C‑2 zoning in Holland Charter Township
- Six separate entrances and exits
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
$66,098
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
6.30%
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%
$1,321,960
$1.3M
Cap Rate 7%
$944,257
$944.3K
Cap Rate 9%
$734,422
$734.4K
Market Conditions
NOI Build-Up for 6,000 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
$102.2K $17.04/SF
− Vacancy
−$14.1K −$2.35/SF
EGI
$88.1K $14.69/SF
− OpEx
−$22.0K −$3.67/SF
NOI
$66.1K $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%
$1,321,960
Cap Rate 7%
$944,257
Cap Rate 9%
$734,422
Alternative Uses
Best Use
Office B
$944.3K
$826.2K – $1.10M
NOI $66,098 @ 7.0% cap · market cap 6.30%
Second Best
Healthcare Medical
$710.8K
$621.9K – $829.2K
NOI $49,753 @ 7.0% cap · market cap 4.74%
Theoretical Best
Multifamily LT 5
$74.61M
$65.29M – $87.05M
NOI $5,222,814 @ 7.0% cap · market cap 497.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
377
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 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?
Medical Office Space - C-2-zoned space offers multiple access points and an adaptable interior for permitted commercial uses.
Where is this medical office space located?
The property is located at 11595 E Lakewood Boulevard Holland, MI.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 6,000‑square‑foot end‑unit medical office property; C‑2 zoning in Holland Charter Township; Six separate entrances and exits
