Second-Floor Office
For Sale
$910,000
85 E 8th Street Unit 250, Holland, MI 49423
An open workspace includes a kitchenette, conference room, and windows facing south.
Property Size3,237 SF
Price / SF$281.12
Days on Market969
Property Features for 85 E 8th Street Unit 250
General Information
Standard status
Active
Size
3,237 SF
Property subtype
Commercial
Additional Details
Floor
2
Taxes and HOA fees
Annual Taxes
$23,942
Amenities
kitchenette
conference room
Listing Agency:
(312) 330-3100
Listed By:
Craig Palmer
(312) 506-0200
Source:
Harborcountryhomes
Added: Mar 1, 2024
Changed: Oct 26
Last Checked: Oct 26 at 3:20AM
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 Craig Palmer
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Investment Insights
Based on property information with market context.
Located on the second floor of Plaza Center, Suite 250 offers 3,237 square feet of finished office space. Its layout includes a large open area, a kitchenette, and a conference room. The south side has windows overlooking 8th Street.
The open area can support collaborative work or be reconfigured with private offices, according to the space's stated layout options.
The open area can support collaborative work or be reconfigured with private offices, according to the space's stated layout options.
Key Highlights
- 3,237 square feet of finished space on Plaza Center’s second floor
- Open area with flexibility for collaborative use or private office construction
- Kitchenette and conference room included
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.
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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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - An open workspace includes a kitchenette, conference room, and windows facing south.
Where is this office unit located?
The property is located at 85 E 8th Street Unit 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: 3,237 square feet of finished space on Plaza Center’s second floor; Open area with flexibility for collaborative use or private office construction; Kitchenette and conference room included
