Downtown Holland Office Building For
For Sale
$6,750,000
Pending
171 College Ave, Holland, MI 49423
Three-story office building in downtown Holland, built in 2019.
Property Size22,607 SF
Lot Size0.52 Acres
Days on Market210
Property Features for 171 College Ave
General Information
Standard status
Pending
Size
22,607 SF
Lot size
0.52 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$170,269
Building Details
Year Built
2019
Units
1
Listing Agency:
Lakeshore Commercial Real Estate
Listed By:
Drew Alan Durham · License #6501355882
(616) 394-4500
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 25 at 8:15AM
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 Lakeshore Commercial Real Estate
Investment Insights
Based on property information with market context.
This three-story office building, constructed in 2019, offers 22,607 square feet of space and is available for sale in Downtown Holland. The building features numerous private offices, conference rooms, and balcony areas on the second and third floors. Situated on the southwest corner of E 7th Street and College Ave, the property benefits from its proximity to various shops, restaurants, banks, and hotels.
Key Highlights
- Modern office building constructed in 2019.
- Prime Downtown Holland location near shops, restaurants, banks, and hotels.
- Substantial 22,607 SF of office space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$249,047
Cap Rate
3.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,980,940
$5.0M
Cap Rate 7%
$3,557,814
$3.6M
Cap Rate 9%
$2,767,189
$2.8M
Market Conditions
NOI Build-Up for 22,607 SF
Gross rent
$385.2K $17.04/SF
− Vacancy
−$53.2K −$2.35/SF
EGI
$332.1K $14.69/SF
− OpEx
−$83.0K −$3.67/SF
NOI
$249.0K $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%
$4,980,940
Cap Rate 7%
$3,557,814
Cap Rate 9%
$2,767,189
Alternative Uses
Best Use
Office B
$3.56M
$3.11M – $4.15M
NOI $249,047 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$281.12M
$245.98M – $327.98M
NOI $19,678,692 @ 7.0% cap · market cap 291.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,238
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Three-story office building in downtown Holland, built in 2019.
Where is this office building located?
The property is located at 171 College Ave Holland, MI.
What is the asking price?
The asking price for this property is $6,750,000.
What are key features of this property?
This property features: Modern office building constructed in 2019.; Prime Downtown Holland location near shops, restaurants, banks, and hotels.; Substantial 22,607 SF of office space.
