Purpose-Built Medical
New
For Sale
$1,595,000
16925 Ability Way, Grand Haven, MI 49417
A pediatric therapy clinic occupies a purpose-designed building with a fenced outdoor play area.
Property Size7,560 SF
Lot Size1.56 Acres
Price / SF$210.98
Days on Market2
Property Features for 16925 Ability Way
General Information
Standard status
Active
Size
7,560 SF
Lot size
1.56 Acres
Property subtype
Commercial
Occupancy
100%
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Additional Details
Property Use
Medical Office
Medical Specialty
applied behavior analysis, occupational therapy, speech language therapy
Taxes and HOA fees
Annual Taxes
$22,338
Amenities
fenced exterior playground with playground equipment
Building Details
Year Built
2020
Buildings
1
Units
1
Building Size
7,560 SF
Tenancy
Single
Listing Agency:
Liv Communities, LLC
Listed By:
Charles W May · License #6501292456
(616) 846-6900
Source:
Elliman
Added: Oct 28
Last Checked: Oct 28 at 2:49PM
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 Liv Communities, LLC
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Investment Insights
Based on property information with market context.
Constructed in 2020, this 7,560-square-foot medical and therapy facility sits on a 1.56-acre parcel. The building was designed for pediatric treatment and therapy services, with an outdoor fenced playground and playground equipment. A single tenant occupies the property under a five-year lease. The Shoreline Center provides applied behavior analysis, speech and language therapy, occupational therapy, and related pediatric services.
The property combines three therapy disciplines at one site, with the playground supporting the clinic’s programming. The parcel accommodates the building and its outdoor therapy area.
The property combines three therapy disciplines at one site, with the playground supporting the clinic’s programming. The parcel accommodates the building and its outdoor therapy area.
Key Highlights
- 7,560‑square‑foot medical and therapy building on 1.56 acres
- Built in 2020 for pediatric treatment and therapy services
- Single‑tenant property with a five‑year lease in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,284
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,665,680
$1.7M
Cap Rate 7%
$1,189,771
$1.2M
Cap Rate 9%
$925,378
$925.4K
Market Conditions
NOI Build-Up for 7,560 SF
Gross rent
$128.8K $17.04/SF
− Vacancy
−$17.8K −$2.35/SF
EGI
$111.0K $14.69/SF
− OpEx
−$27.8K −$3.67/SF
NOI
$83.3K $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%
$1,665,680
Cap Rate 7%
$1,189,771
Cap Rate 9%
$925,378
Alternative Uses
Best Use
Office B
$1.19M
$1.04M – $1.39M
NOI $83,284 @ 7.0% cap · market cap 5.22%
Second Best
Healthcare Medical
$895.5K
$783.6K – $1.04M
NOI $62,688 @ 7.0% cap · market cap 3.93%
Theoretical Best
Multifamily LT 5
$94.01M
$82.26M – $109.68M
NOI $6,580,746 @ 7.0% cap · market cap 412.59%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
Under-served
Demand for This Use
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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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Medical Office Space - A pediatric therapy clinic occupies a purpose-designed building with a fenced outdoor play area.
Where is this medical office space located?
The property is located at 16925 Ability Way Grand Haven, MI.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: 7,560‑square‑foot medical and therapy building on 1.56 acres; Built in 2020 for pediatric treatment and therapy services; Single‑tenant property with a five‑year lease in place
