Second-Floor Office
For Sale
$910,000
250-85 E 8th St, Holland, MI 49423
Open workspace includes a kitchenette, conference room, and south-side windows overlooking 8th Street.
Property Size3,237 SF
Price / SF$281.12
Days on Market948
Property Features for 250-85 E 8th St
General Information
Standard status
Active
Size
3,237 SF
Additional Details
Floor
2
Taxes and HOA fees
Annual Taxes
$23,942
Amenities
kitchenette
conference room
Listing Agency:
Lakeshore Commercial Real Estate
Listed By:
Jason DeWitt · License #6501331667
(616) 394-4500
Source:
Exprealty
Added: Mar 1, 2024
Changed: Oct 4
Last Checked: Oct 4 at 4:04PM
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 Estate
Investment Insights
Based on property information with market context.
Suite 250 is a second-floor office unit within Plaza Center at 250-85 E 8th St in Holland, Michigan. The suite contains 3,237 SF of finished space, with a kitchenette and conference room already in place.
The interior is arranged around a broad open area that can support coworking or collaborative use, with the option to configure private offices. Windows along the south side of the building provide views toward 8th Street. Design flexibility, existing meeting amenities, and an adaptable open layout support a range of office configurations.
The interior is arranged around a broad open area that can support coworking or collaborative use, with the option to configure private offices. Windows along the south side of the building provide views toward 8th Street. Design flexibility, existing meeting amenities, and an adaptable open layout support a range of office configurations.
Key Highlights
- 3,237 SF of finished office space in Plaza Center’s 2nd floor
- Suite 250 includes a kitchenette and conference room
- Open layout can accommodate coworking or collaborative spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,660
Cap Rate
3.92%
Suggested Prices Based on Cap Rates
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
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 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
Current Use
Location Intelligence
Trade Area within ½ mile
859
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 - Open workspace includes a kitchenette, conference room, and south-side windows overlooking 8th Street.
Where is this office units located?
The property is located at 250-85 E 8th St 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: 3,237 SF of finished office space in Plaza Center’s 2nd floor; Suite 250 includes a kitchenette and conference room; Open layout can accommodate coworking or collaborative spaces
