Flex Warehouse with Multiple Loading
For Sale
Contact for pricing
147 E 6th Street, Holland, MI 49423
Heated street access, underground utilities, and versatile office, retail, and warehouse areas support multiple redevelopment and operating models.
Property Size76,225 SF
Lot Size2.00 Acres
Price / SF$51.16
Days on Market67
Property Features for 147 E 6th Street
General Information
Standard status
Active
Size
76,225 SF
Lot size
2.00 Acres
Property subtype
Industrial, Office
Additional Details
Utilities to Site
Yes
Drive-In Doors
2
Building Details
Year Built
1956
Buildings
1
Units
1
Listing Agency:
Coldwell Banker Woodland Schmidt
(616) 836-0999
Listed By:
Kevin Alderink · License #6506045551
Source:
Crexi
Added: Jun 10
Changed: Aug 14
Last Checked: Aug 14 at 8:43AM
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 Coldwell Banker Woodland Schmidt
Investment Insights
Based on property information with market context.
This flex-style facility includes light manufacturing and warehousing space with flexible interior configuration for office and retail uses. The building features multiple loading docks and two large, ground-level overhead doors along 6th St. Office space is located in the front SW corner, with potential retail space in the SE corner, and the second-floor area is described as having unlimited potential. The back portion was originally insulated for deep-freeze, environmental control, which may support specialized storage or temperature-controlled concepts depending on tenant requirements.
Set in the heart of downtown Holland, the property is positioned between Freedom Village and the new outdoor ice skating rink on 6th St. It overlooks the Window on the Waterfront and Windmill Island. To the north and west, the site is surrounded by Holland City property. The offering highlights a redevelopment focus and includes heated street and sidewalk service with a snowmelt system, along with underground utilities. The city has also stubbed a hot water line to the building for heat.
For tenants or buyers seeking adaptable space, the combination of dock access, street-facing overhead doors, and demisable floor area is suited to a range of uses, from warehouse and light industrial operations to potential retail and second-floor concept space. The insulated rear build-out provides an additional foundation for temperature-sensitive applications where allowed and feasible.
Set in the heart of downtown Holland, the property is positioned between Freedom Village and the new outdoor ice skating rink on 6th St. It overlooks the Window on the Waterfront and Windmill Island. To the north and west, the site is surrounded by Holland City property. The offering highlights a redevelopment focus and includes heated street and sidewalk service with a snowmelt system, along with underground utilities. The city has also stubbed a hot water line to the building for heat.
For tenants or buyers seeking adaptable space, the combination of dock access, street-facing overhead doors, and demisable floor area is suited to a range of uses, from warehouse and light industrial operations to potential retail and second-floor concept space. The insulated rear build-out provides an additional foundation for temperature-sensitive applications where allowed and feasible.
Key Highlights
- 1956‑built downtown Holland building with heated street and sidewalk snow‑melt system
- Underground utilities plus city hot water line stubbed to the building for heat
- Approximately 2 acres in Holland City with views overlooking the Window on the Waterfront and Windmill Island
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
$272,603
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
6.99%
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%
$5,452,060
$5.5M
Cap Rate 7%
$3,894,329
$3.9M
Cap Rate 9%
$3,028,922
$3.0M
Market Conditions
NOI Build-Up for 76,225 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
$457.4K $6.00/SF
− Vacancy
−$38.0K −$0.50/SF
EGI
$419.4K $5.50/SF
− OpEx
−$146.8K −$1.93/SF
NOI
$272.6K $3.58/SF
Area
Ottawa County, MI
Vacancy
8.30%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
35.00%
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%
$5,452,060
Cap Rate 7%
$3,894,329
Cap Rate 9%
$3,028,922
Alternative Uses
Best Use
Warehouse
$18.33M
$16.04M – $21.39M
NOI $1,283,333 @ 7.0% cap · market cap 32.91%
Second Best
Industrial
$16.07M
$14.06M – $18.75M
NOI $1,124,861 @ 7.0% cap · market cap 28.84%
Theoretical Best
Multifamily LT 5
$947.88M
$829.39M – $1,105.86M
NOI $66,351,498 @ 7.0% cap · market cap 1,701.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,227
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Heated street access, underground utilities, and versatile office, retail, and warehouse areas support multiple redevelopment and operating models.
Where is this flex space located?
The property is located at 147 E 6th Street Holland, MI.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 1956‑built downtown Holland building with heated street and sidewalk snow‑melt system; Underground utilities plus city hot water line stubbed to the building for heat; Approximately 2 acres in Holland City with views overlooking the Window on the Waterfront and Windmill Island
