Office Suite with Conference
For Sale
Contact for pricing
85 E 8th Street 250, Holland, MI 49423
Second-floor suite offers a kitchenette, conference room, and flexible open workspace with windowed south-side exposure.
Property Size3,237 SF
Price / SF$281.12
Days on Market918
Property Features for 85 E 8th Street 250
General Information
Standard status
Active
Size
3,237 SF
Property subtype
Office
Building Details
Year Built
2002
Year Renovated
2024
Buildings
1
Stories
3
Units
1
Listing Agency:
Lakeshore Commercial Real Estates
Listed By:
Jason DeWitt · License #MI 6501331667
(616) 394-4500
Source:
Crexi
Added: Mar 1, 2024
Changed: Aug 28
Last Checked: Aug 31 at 7:04AM
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 Lakeshore Commercial Real Estates
Investment Insights
Based on property information with market context.
Unit 10 / Suite 250 is a finished second-floor office space totaling 3,237 square feet at Plaza Center. The suite includes a small kitchenette and a dedicated conference room. The primary area is a large open layout designed for flexible use, with the option to support coworking or to build out private offices with windows wrapped along the south side of the building.
The space is located at 85 E 8th Street in Holland, MI, and looks out over 8th Street below from the south-side window line.
Offered for sale, Suite 250 provides a ready-to-use office environment with core amenities already in place and the remaining layout suited to adaptable workstation and office configurations.
The space is located at 85 E 8th Street in Holland, MI, and looks out over 8th Street below from the south-side window line.
Offered for sale, Suite 250 provides a ready-to-use office environment with core amenities already in place and the remaining layout suited to adaptable workstation and office configurations.
Key Highlights
- 2nd‑floor suite in Plaza Center with 3,237 SF of finished office space
- Suite includes a small kitchenette and a conference room
- Large open area designed for flexible use, including co‑working/collaborative space or private office buildout
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
$35,660
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
3.92%
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%
$713,200
$713.2K
Cap Rate 7%
$509,429
$509.4K
Cap Rate 9%
$396,222
$396.2K
Market Conditions
NOI Build-Up for 3,237 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
$55.2K $17.04/SF
− Vacancy
−$7.6K −$2.35/SF
EGI
$47.5K $14.69/SF
− OpEx
−$11.9K −$3.67/SF
NOI
$35.7K $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%
$713,200
Cap Rate 7%
$509,429
Cap Rate 9%
$396,222
Alternative Uses
Best Use
Office B
$509.4K
$445.8K – $594.3K
NOI $35,660 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$40.25M
$35.22M – $46.96M
NOI $2,817,708 @ 7.0% cap · market cap 309.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,269
Businesses Nearby
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
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 - Second-floor suite offers a kitchenette, conference room, and flexible open workspace with windowed south-side exposure.
Where is this office units located?
The property is located at 85 E 8th Street 250 Holland, MI.
What is the asking price?
The asking price for this property is $910,000.
What are key features of this property?
This property features: 2nd‑floor suite in Plaza Center with 3,237 SF of finished office space; Suite includes a small kitchenette and a conference room; Large open area designed for flexible use, including co‑working/collaborative space or private office buildout
