Flex Space with Loading
For Sale
$4,200,000
147 E 6th St, Holland, MI 49423
Adaptable commercial building with loading access, office areas, and space that can be configured for multiple uses.
Property Size76,225 SF
Lot Size2.00 Acres
Price / SF$55.10
Days on Market48
Property Features for 147 E 6th St
General Information
Standard status
Active
Size
76,225 SF
Lot size
2.00 Acres
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Drive-In Doors
2
Building Details
Year Built
1956
Listing Agency:
Coldwell Banker Woodland Schmidt
(616) 662-9664
Listed By:
Kevin Alderink
Source:
Katie-k
Added: Jul 14
Changed: Aug 30
Last Checked: Aug 25 at 4:57AM
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 space property includes light manufacturing and warehouse areas, multiple loading docks, and two large ground-level overhead doors along 6th Street. Office areas occupy the front southwest corner, while the southeast corner offers potential retail space. The second floor provides additional usable area, and the overall building can be divided into separate sections. The rear portion was originally insulated for deep-freeze environmental control.
The property covers 2 acres in downtown Holland at 147 E 6th Street, positioned between Freedom Village and the new outdoor ice skating rink. It overlooks Window on the Waterfront and Windmill Island, with Holland City property to the north and west. The site has C-3 zoning, underground utilities, heated street and sidewalk systems, and a hot water line stubbed to the building for heat. Built in 1956.
The property covers 2 acres in downtown Holland at 147 E 6th Street, positioned between Freedom Village and the new outdoor ice skating rink. It overlooks Window on the Waterfront and Windmill Island, with Holland City property to the north and west. The site has C-3 zoning, underground utilities, heated street and sidewalk systems, and a hot water line stubbed to the building for heat. Built in 1956.
Key Highlights
- 2‑acre downtown Holland property at 147 E 6th Street
- C‑3 zoning with underground utilities
- Multiple loading docks and two large, ground‑level overhead doors
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
6.49%
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 30.56%
Second Best
Industrial
$16.07M
$14.06M – $18.75M
NOI $1,124,861 @ 7.0% cap · market cap 26.78%
Theoretical Best
Multifamily LT 5
$947.88M
$829.39M – $1,105.86M
NOI $66,351,498 @ 7.0% cap · market cap 1,579.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,158
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
Questions? Ask Rey
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Similar Off Market Nearby
- Hope College Catering Service — 150 E 10th St, Holland, MI 49423
Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial building with loading access, office areas, and space that can be configured for multiple uses.
Where is this flex space located?
The property is located at 147 E 6th St Holland, MI.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: 2‑acre downtown Holland property at 147 E 6th Street; C‑3 zoning with underground utilities; Multiple loading docks and two large, ground‑level overhead doors
