End-Unit Medical Office
For Sale
$1,050,000
11595 E Lakewood Boulevard 7-12, Holland, MI 49424
C-2-zoned commercial space with private offices, multiple access points, and an adaptable interior layout.
Property Size6,000 SF
Price / SF$175
Days on Market15
Property Features for 11595 E Lakewood Boulevard 7-12
General Information
Standard status
Active
Size
6,000 SF
Zoning
C-2
Listing Agency:
Coldwell Banker Woodland Schmidt
(616) 355-3650
Listed By:
The Jim and Bernie Team · License #6506041602
(616) 355-3650
Source:
Brendaharrisgroup
Added: Aug 16
Changed: Aug 30
Last Checked: Aug 25 at 9:43AM
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 property is currently configured as a physical therapy office. The layout includes multiple private offices, reception areas, five bathrooms, a laundry room, and a large open area. Six separate entrances and exits support varied circulation patterns and may accommodate distinct access needs within the space. Ample parking is also available on site.
Located on E. Lakewood Boulevard in Holland Charter Township, the property carries C-2 zoning. Its existing configuration can support medical, professional, service, retail, or other permitted commercial uses. The combination of enclosed offices, shared reception areas, plumbing fixtures, laundry capability, and open workspace provides a functional foundation for an owner-user or commercial operator seeking a flexible layout.
Located on E. Lakewood Boulevard in Holland Charter Township, the property carries C-2 zoning. Its existing configuration can support medical, professional, service, retail, or other permitted commercial uses. The combination of enclosed offices, shared reception areas, plumbing fixtures, laundry capability, and open workspace provides a functional foundation for an owner-user or commercial operator seeking a flexible layout.
Key Highlights
- 6,000‑square‑foot end‑unit commercial space
- Currently configured for physical therapy use
- Multiple private offices, reception areas, and a large open area
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
Location Intelligence
Trade Area within ½ mile
316
Businesses Nearby
Well-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 commercial space with private offices, multiple access points, and an adaptable interior layout.
Where is this medical office space located?
The property is located at 11595 E Lakewood Boulevard 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 commercial space; Currently configured for physical therapy use; Multiple private offices, reception areas, and a large open area
