Hamilton Office Condo For
For Sale
$349,900
3598 Green Pointe Ctr, Hamilton, MI 49419
Move-in-ready office condo in Hamilton, West Michigan.
Property Size1,900 SF
Lot Size0.76 Acres
Price / SF$184.16
Days on Market165
Property Features for 3598 Green Pointe Ctr
General Information
Standard status
Active
Size
1,900 SF
Lot size
0.76 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,195
Building Details
Year Built
2006
Units
1
Listing Agency:
Greenridge Realty Inc.
(616) 610-3465
Listed By:
Vanesa Abar · License #6501358291
(616) 610-3465
Source:
Elliman
Added: Mar 10
Changed: Aug 13
Last Checked: Aug 20 at 9:02AM
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 Greenridge Realty Inc.
Investment Insights
Based on property information with market context.
This commercial office condo, located in Hamilton, offers over 1,900 sq ft of flexible space. The main level includes a reception area, a spacious conference area, and six private workspaces divided by cubicles. A kitchenette equipped with a dishwasher and refrigerator, along with a restroom, provides additional convenience. The building features spancrete floors and a full basement for storage. Constructed with brick and featuring low-maintenance landscaping, the property is located near M-40, offering visibility and accessibility. This property is suitable for professional offices or collaborative teams. Some office furniture may be included. The property is located in a strong West Michigan community.
Key Highlights
- Move‑in‑ready commercial office condo with 1,900+ sq ft of flexible space.
- Prime location in the heart of Hamilton, close to M‑40, offering excellent visibility and accessibility.
- Functional layout includes reception area and conference area, six private workspaces, kitchenette, and restroom.
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
$20,931
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
5.98%
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%
$418,620
$418.6K
Cap Rate 7%
$299,014
$299.0K
Cap Rate 9%
$232,567
$232.6K
Market Conditions
NOI Build-Up for 1,900 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
$32.4K $17.04/SF
− Vacancy
−$4.5K −$2.35/SF
EGI
$27.9K $14.69/SF
− OpEx
−$7.0K −$3.67/SF
NOI
$20.9K $11.02/SF
Area
Allegan 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%
$418,620
Cap Rate 7%
$299,014
Cap Rate 9%
$232,567
Alternative Uses
Best Use
Office B
$299.0K
$261.6K – $348.9K
NOI $20,931 @ 7.0% cap · market cap 5.98%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$17.84M
$15.61M – $20.82M
NOI $1,249,007 @ 7.0% cap · market cap 356.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
102
Businesses Nearby
Explore this area
Business Placement
Demographics for 49419, MI
8,720
Population
2,983
Households
2.9
Avg Household Size
37
Median Age
26%
College-Educated
96%
High-School Grad
73.2 sq mi
ZIP Area
119
Density / Sq Mi
$92,708
Median Household Income
$51,644
Median Earnings
$301,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Move-in-ready office condo in Hamilton, West Michigan.
Where is this office units located?
The property is located at 3598 Green Pointe Ctr Hamilton, MI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Move‑in‑ready commercial office condo with 1,900+ sq ft of flexible space.; Prime location in the heart of Hamilton, close to M‑40, offering excellent visibility and accessibility.; Functional layout includes reception area and conference area, six private workspaces, kitchenette, and restroom.
