Listing Agency: Remax Lakeshore

Listed By: Sandi Gentry · License #6506045021 Show Phone

Source: Carwm.resimplifi

Added: Aug 26, 2025 Changed: Oct 11 Last Checked: Oct 12 at 4:47PM

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Investment Insights

Based on property information with market context.

Kooiman Place is an under-development flex space project offering commercial units in 1,248-square-foot and 1,728-square-foot configurations. Each unit combines workspace and storage with layouts that can accommodate studios, workshops, service businesses, or professional offices. Mezzanine options provide additional office or storage area, while Anderson sliding doors and windows bring natural light into the space.

Units include Schlage smart entry systems, a 14' x 16' insulated overhead door, and a separate 3' entry door. Finish allowances and upgrade options are available for customization. The property is located at 1500 Kooiman Avenue in Grand Haven, Michigan.

Key Highlights

• Commercial units available in 1,248 sq ft and 1,728 sq ft options
• 14' x 16' insulated overhead door plus an additional 3' entry door
• Mezzanine options add office or storage capacity

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$29,430

Cap Rate

8.89%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$588,600 $588.6K

Cap Rate 7%

$420,429 $420.4K

Cap Rate 9%

$327,000 $327.0K

Market Conditions

NOI Build-Up for 1,748 SF

Gross rent

$37.8K $21.60/SF

− Vacancy

−$3.1K −$1.79/SF

EGI

$34.6K $19.81/SF

− OpEx

−$5.2K −$2.97/SF

NOI

$29.4K $16.84/SF

Area

Ottawa County, MI

Vacancy

8.30%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$588,600

Cap Rate 7%

$420,429

Cap Rate 9%

$327,000

Alternative Uses

Best Use

Warehouse

$420.4K

$367.9K – $490.5K (±1% cap)

NOI $29,430 @ 7.0% cap · market cap 8.89%

Second Best

Industrial

$368.5K

$322.4K – $429.9K (±1% cap)

NOI $25,795 @ 7.0% cap · market cap 7.79%

Theoretical Best

Multifamily LT 5

$21.74M

$19.02M – $25.36M (±1% cap)

NOI $1,521,580 @ 7.0% cap · market cap 459.69%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Big Box & Wholesale Store Restaurant Building Supply Auto Repair Shop Auto Parts Store Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

871

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 49417, MI

32,406

Population

14,709

Households

2.2

Avg Household Size

43

Median Age

38%

College-Educated

95%

High-School Grad

46.9 sq mi

ZIP Area

691

Density / Sq Mi

$84,476

Median Household Income

$45,392

Median Earnings

$1,101

Median Rent

$287,800

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Flexible commercial units combine workspace, storage, and customizable finish options for a range of business operations.

Where is this flex space located?

The property is located at 1500 Kooiman Ave #5 Grand Haven, MI.

What is the asking price?

The asking price for this property is $331,000.

What are key features of this property?

This property features: Commercial units available in 1,248 sq ft and 1,728 sq ft options; 14' x 16' insulated overhead door plus an additional 3' entry door; Mezzanine options add office or storage capacity