Multi-Level Flex
For Sale
$3,900,000
147 E 6th Street, Holland, MI 49423
COMMERCIAL - Holland, MI
Property Size76,225 SF
Lot Size2.02 Acres
Price / SF$51.16
Days on Market427
Property Features for 147 E 6th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C-3
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4
Elementary school district
Holland
Middle school district
Holland
High school district
Holland
Directions
7th St. to Columbia, N to 6th St. NW Corner
Subdivision
Holland/Saugatuck - H
Standard status
Active
APN
70-16-29-277-002
Size
76,225 SF
Lot size
2.02 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 1, 2, 11 & 12 ALSO E 100 FT OF LOTS 3 & 10 BLK 22 ORIGINAL PLAT CITY OF HOLLAND SEC 29 T5N R15W
Tax Annual Amount
26375
Legal Description
LOTS 1, 2, 11 & 12 ALSO E 100 FT OF LOTS 3 & 10 BLK 22 ORIGINAL PLAT CITY OF HOLLAND SEC 29 T5N R15W
Utilities
Utilities
Cable Available
Heating system
Forced Air
Building Details
Year built
1956
Number of units
1
Building materials
Block, Metal Siding
Listing Agency:
Coldwell Banker Woodland Schmidt · Coldwell Banker Real Estate
(616) 396-5221
Listed By:
Kevin Alderink · License #6506045551
(616) 836-0999
Added: Jun 20, 2025
Changed: Aug 4
Last Checked: Aug 20 at 8:06PM
MLS# 25029785
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1956, this 76,225-square-foot flex facility occupies 2.02 acres and combines industrial, office, and potential retail areas. The building includes multiple loading docks, two large ground-level overhead doors along 6th Street, front-corner office suites, and a second-floor area. The rear section was insulated for deep-freeze environmental control. Interior space can be divided into separate areas, supporting a range of configurations for light manufacturing, warehousing, or retail. Construction includes block and metal siding, with forced-air heating.
The property is in downtown Holland between Freedom Village and the outdoor ice skating rink on 6th Street. It is bordered to the north and west by Holland City property and overlooks Window on the Waterfront and Windmill Island. Heated streets and sidewalks use a snow-melt system, underground utilities serve the site, and a hot-water line is stubbed to the building for heat.
The property is in downtown Holland between Freedom Village and the outdoor ice skating rink on 6th Street. It is bordered to the north and west by Holland City property and overlooks Window on the Waterfront and Windmill Island. Heated streets and sidewalks use a snow-melt system, underground utilities serve the site, and a hot-water line is stubbed to the building for heat.
Key Highlights
- 2.02‑acre site with a 76,225‑square‑foot flex facility
- Multiple loading docks and two large ground‑level overhead doors along 6th Street
- Second‑floor space plus office areas and potential retail space
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
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
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 - Block and metal-sided facility with loading access, office areas, and adaptable space for light manufacturing, warehousing, or retail.
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: 2.02‑acre site with a 76,225‑square‑foot flex facility; Multiple loading docks and two large ground‑level overhead doors along 6th Street; Second‑floor space plus office areas and potential retail space
