18 N 5th St Grand Haven, MI 49417
Renovated fire barn with redevelopment potential in downtown Grand Haven.
Property Features for 18 N 5th St
General Information
- Standard status
- Active
- Size
- 11,584 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1937
Listing office Capstone Real Estate LLC (616) 847-1031
Listing date Apr 24, 2026
Source Elliman
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All listing content including descriptions, pricing, images are the copyrighted material of Capstone Real Estate LLC
Investment Insights
Based on property information with market context.
Key Highlights
- Premier downtown corner lot location with easy access and excellent visibility.
- Historic 1937 fire barn building with artfully maintained original architecture, renovated in 2024.
- 11,584 SF building overlooking Central Park, blocks from the waterfront.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $197.4k | $17.04 |
| − Vacancy | −$27.2k | −$2.35 |
| EGI | $170.2k | $14.69 |
| − OpEx | −$42.5k | −$3.67 |
| NOI | $127.6k | $11.02 |
