End-Unit Office
New
For Sale
$1,050,000
11595 E Lakewood Blvd 7-12, Holland, MI 49424
C-2-zoned office space with adaptable rooms, multiple entrances, and on-site parking.
Property Size6,000 SF
Price / SF$175
Days on Market2
Property Features for 11595 E Lakewood Blvd 7-12
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Commercial
Zoning
C-2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$17,758
Building Details
Year Built
2002
Units
1
Tenancy
Single
Listing Agency:
Coldwell Banker Woodland Schmidt
(616) 355-3695
Listed By:
H. Bernie Merkle · License #6506041602
(616) 355-3695
Source:
Elliman
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 16 at 5:24AM
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 Coldwell Banker Woodland Schmidt
Investment Insights
Based on property information with market context.
This 6,000-square-foot end-unit office property at 11595 E Lakewood Blvd includes an existing physical therapy office layout with multiple private offices, reception areas, a large open room, five bathrooms, and a laundry room. Six separate entrances and exits support convenient circulation and may accommodate varied access requirements within the space. The building was constructed in 2002 and includes ample parking.
Located in Holland Charter Township, the property carries C-2 zoning. Its current configuration combines private rooms with open area and service spaces, creating a practical office setting with flexibility for permitted commercial applications.
Located in Holland Charter Township, the property carries C-2 zoning. Its current configuration combines private rooms with open area and service spaces, creating a practical office setting with flexibility for permitted commercial applications.
Key Highlights
- 6,000‑square‑foot end‑unit 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
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
316
Businesses Nearby
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?
Office units - C-2-zoned office space with adaptable rooms, multiple entrances, and on-site parking.
Where is this office units located?
The property is located at 11595 E Lakewood Blvd 7-12 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 office property; C‑2 zoning in Holland Charter Township; Six separate entrances and exits
