Hudsonville Commercial Office Building For
For Sale
$489,000
6491 Sanru Ave, Jenison, MI 49428
Pristine commercial office building in Hudsonville, Michigan, featuring two adaptable suites.
Property Size2,448 SF
Price / SF$199.75
Days on Market105
Property Features for 6491 Sanru Ave
General Information
Standard status
Active
Size
2,448 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,129
Building Details
Year Built
1990
Units
2
Listing Agency:
Bellabay Realty (Kentwood)
(616) 299-7600
Listed By:
Ellyn Olney
(616) 299-7600
Source:
Elliman
Added: May 9
Changed: Aug 8
Last Checked: Aug 20 at 8:55AM
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 Bellabay Realty (Kentwood)
Investment Insights
Based on property information with market context.
This commercial office building, located in Hudsonville, Michigan, offers 2448 square feet of space divided into two office suites, suitable for various business needs. One suite is currently leased through the fall of 2028, while the other is available for lease or owner-occupancy. The building is in immaculate condition, featuring high-quality finishes and a professional atmosphere. A unique feature of this building is the full separate basements below each suite. The property benefits from high visibility and easy access, situated next to a main thoroughfare with approximately 17,000 vehicles a day. It is conveniently close to other businesses, eateries, and essential amenities. The site includes ample on-site parking, with 18 spaces available for staff and visitors. This property is ideal for business owners looking to establish their base or investors seeking a solid asset in a growing area.
Key Highlights
- Dual Suite Configuration: Two spacious office suites adaptable to various business needs.
- Prime Location: High visibility next to a main road with 17,000 vehicles a day.
- Partially Occupied: One suite is currently leased through fall of 2028, providing immediate income.
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
$26,968
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
5.51%
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%
$539,360
$539.4K
Cap Rate 7%
$385,257
$385.3K
Cap Rate 9%
$299,644
$299.6K
Market Conditions
NOI Build-Up for 2,448 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
$41.7K $17.04/SF
− Vacancy
−$5.8K −$2.35/SF
EGI
$36.0K $14.69/SF
− OpEx
−$9.0K −$3.67/SF
NOI
$27.0K $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%
$539,360
Cap Rate 7%
$385,257
Cap Rate 9%
$299,644
Alternative Uses
Best Use
Office B
$385.3K
$337.1K – $449.5K
NOI $26,968 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$30.44M
$26.64M – $35.52M
NOI $2,130,908 @ 7.0% cap · market cap 435.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
342
Businesses Nearby
Explore this area
Business Placement
Demographics for 49428, MI
27,162
Population
10,312
Households
2.6
Avg Household Size
38
Median Age
38%
College-Educated
95%
High-School Grad
16.1 sq mi
ZIP Area
1,687
Density / Sq Mi
$92,290
Median Household Income
$49,911
Median Earnings
$1,373
Median Rent
$276,100
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 building - Pristine commercial office building in Hudsonville, Michigan, featuring two adaptable suites.
Where is this office building located?
The property is located at 6491 Sanru Ave Jenison, MI.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Dual Suite Configuration: Two spacious office suites adaptable to various business needs.; Prime Location: High visibility next to a main road with 17,000 vehicles a day.; Partially Occupied: One suite is currently leased through fall of 2028, providing immediate income.
