End-Unit Office
For Sale
$975,000
11595 E Lakewood Boulevard, Holland, MI 49424
Commercial Sale, Holland, MI
Property Size6,000 SF
Price / SF$162.50
Days on Market51
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 5, Bathroom 3, Bathroom 1, Bathroom 4
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
Amenities
multiple private offices
five bathrooms
laundry room
reception areas
large open space
six separate entrances/exits
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: Sep 24
Last Checked: Oct 2 at 2:06AM
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 office property was built in 2002 and is currently configured for physical therapy operations. The interior includes multiple private offices, five bathrooms, a laundry room, reception areas, and a large open area. Six separate entrances and exits support varied circulation and provide flexibility for configuring the space.
Located on E. Lakewood Boulevard in Holland Charter Township, the property carries C-2 zoning. Existing improvements include forced-air heating, central air, vinyl siding, stone, and a composition roof. On-site parking is included, and cable is available.
Located on E. Lakewood Boulevard in Holland Charter Township, the property carries C-2 zoning. Existing improvements include forced-air heating, central air, vinyl siding, stone, and a composition roof. On-site parking is included, and cable is available.
Key Highlights
- 6,000‑square‑foot end‑unit office property on E. Lakewood Boulevard
- C‑2 zoning in Holland Charter Township
- Multiple private offices, reception areas, laundry room, and 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
6.78%
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 6.78%
Second Best
Healthcare Medical
$710.8K
$621.9K – $829.2K
NOI $49,753 @ 7.0% cap · market cap 5.10%
Theoretical Best
Multifamily LT 5
$74.61M
$65.29M – $87.05M
NOI $5,222,814 @ 7.0% cap · market cap 535.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
457
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - Adaptable commercial layout with private offices, open workspace, multiple entrances, and on-site parking.
Where is this office units located?
The property is located at 11595 E Lakewood Boulevard Holland, MI.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 6,000‑square‑foot end‑unit office property on E. Lakewood Boulevard; C‑2 zoning in Holland Charter Township; Multiple private offices, reception areas, laundry room, and large open area
