Downtown Holland Versatile Commercial
For Sale
$3,900,000
147 E 6th St, Holland, MI 49423
Adaptable space for manufacturing, warehousing, or retail in downtown Holland.
Property Size76,225 SF
Price / SF$51.16
Days on Market227
Property Features for 147 E 6th St
General Information
Standard status
Active
Size
76,225 SF
Building Details
Year Built
1956
Listing Agency:
Coldwell Banker Woodland Schmidt
Listed By:
Kevin Alderink · License #6506045551
(616) 836-0999
Source:
Katie-k
Added: Jan 26
Changed: Sep 3
Last Checked: Sep 9 at 8:58PM
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.
Located in downtown Holland, this property offers opportunities for light manufacturing, warehousing, or retail use. Situated on the corner of 6th Street and Columbia Avenue, the building features multiple loading docks, including one on 6th Street and others along the parking lot. Two large, ground-level overhead doors are accessible along 6th Street. The property includes office spaces in the front southwest corner and potential retail space in the southeast corner. The second-floor space offers considerable development potential. The overall space can be divided to accommodate various uses. The back portion of the building was originally insulated for deep freeze environmental control. The property is located in the heart of downtown Holland.
Key Highlights
- Prime downtown Holland location at the corner of 6th & Columbia Avenue.
- Multiple loading docks, including one on 6th St. and others along the parking lot.
- Two large, ground‑level overhead doors along 6th St.
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
$272,603
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
6.99%
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%
$5,452,060
$5.5M
Cap Rate 7%
$3,894,329
$3.9M
Cap Rate 9%
$3,028,922
$3.0M
Market Conditions
NOI Build-Up for 76,225 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
$457.4K $6.00/SF
− Vacancy
−$38.0K −$0.50/SF
EGI
$419.4K $5.50/SF
− OpEx
−$146.8K −$1.93/SF
NOI
$272.6K $3.58/SF
Area
Ottawa County, MI
Vacancy
8.30%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
35.00%
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%
$5,452,060
Cap Rate 7%
$3,894,329
Cap Rate 9%
$3,028,922
Alternative Uses
Best Use
Warehouse
$18.33M
$16.04M – $21.39M
NOI $1,283,333 @ 7.0% cap · market cap 32.91%
Second Best
Industrial
$16.07M
$14.06M – $18.75M
NOI $1,124,861 @ 7.0% cap · market cap 28.84%
Theoretical Best
Multifamily LT 5
$947.88M
$829.39M – $1,105.86M
NOI $66,351,498 @ 7.0% cap · market cap 1,701.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,158
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49423, MI
46,870
Population
19,019
Households
2.5
Avg Household Size
37
Median Age
37%
College-Educated
92%
High-School Grad
77.9 sq mi
ZIP Area
602
Density / Sq Mi
$78,524
Median Household Income
$36,643
Median Earnings
$1,143
Median Rent
$254,800
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 Industrial in Midwest region
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Similar Off Market Nearby
- The Storehaus Co. — 500 E 8th St STE 1000, Holland, MI 49423
- Self-Storage at U-Haul — 463 E Lakewood Blvd, Holland, MI 49424
Frequently Asked Questions
What type of property is this?
Warehouse - Adaptable space for manufacturing, warehousing, or retail in downtown Holland.
Where is this warehouse located?
The property is located at 147 E 6th St Holland, MI.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Prime downtown Holland location at the corner of 6th & Columbia Avenue.; Multiple loading docks, including one on 6th St. and others along the parking lot.; Two large, ground‑level overhead doors along 6th St.
