Office and Warehouse on 2.45
For Sale
Contact for pricing
1798 Holloway Dr, Holt, MI 48842
Office and warehouse on 2.45 acres in Delhi Charter Township.
Property Size11,700 SF
Lot Size2.45 Acres
Price / SF$118.80
Days on Market164
Property Features for 1798 Holloway Dr
General Information
Standard status
Active
Size
11,700 SF
Lot size
2.45 Acres
Property subtype
Office
Occupancy
60%
Building Details
Year Built
2005
Stories
1
Listing Agency:
Colliers - Grand Rapids, Michigan
(517) 662-3535
Listed By:
Jeff Ridenour · License #6502373144
Source:
Crexi
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 6:34AM
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 Colliers - Grand Rapids, Michigan
Investment Insights
Based on property information with market context.
This property is an owner/occupier investment opportunity situated on 2.45 acres of landscaped grounds, featuring an outdoor patio and a pond with a fountain. Ample on-site parking is available. The property is located in Delhi Charter Township, approximately 1.2 miles from the US-127 and Holt intersection. The warehouse component offers 1,120 square feet of space with a 15-foot ceiling and a 14-foot by 20-foot overhead door, along with a 600 square foot mezzanine. It is equipped with 440 3-phase power and a pedestrian entrance. The office area includes a corner office with multiple windows, two large conference rooms, seven private offices, two restrooms, and a kitchenette with a dishwasher. An adjacent 2.45-acre parcel is available and listed separately. The total property size is 11,700 square feet.
Key Highlights
- Prime location in Delhi Charter Township, only 1.2 miles from the US‑127 and Holt intersection.
- Substantial 2.45‑acre property with well‑landscaped grounds, patio, and pond with fountain.
- Versatile warehouse space: 1,120 SF with 15’ ceiling, 14’ x 20’ overhead door, and 600 SF mezzanine.
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
$98,687
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
7.10%
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%
$1,973,740
$2.0M
Cap Rate 7%
$1,409,814
$1.4M
Cap Rate 9%
$1,096,522
$1.1M
Market Conditions
NOI Build-Up for 11,700 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
$168.5K $14.40/SF
− Vacancy
−$36.9K −$3.15/SF
EGI
$131.6K $11.25/SF
− OpEx
−$32.9K −$2.81/SF
NOI
$98.7K $8.43/SF
Area
Ingham County, MI
Vacancy
21.90%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
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%
$1,973,740
Cap Rate 7%
$1,409,814
Cap Rate 9%
$1,096,522
Alternative Uses
Best Use
Office B
$1.41M
$1.23M – $1.64M
NOI $98,687 @ 7.0% cap · market cap 7.10%
Second Best
Warehouse
$1.15M
$1.01M – $1.34M
NOI $80,465 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$1.88M
$1.64M – $2.19M
NOI $131,583 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Explore this area
Business Placement
Demographics for 48842, MI
21,548
Population
9,573
Households
2.3
Avg Household Size
40
Median Age
39%
College-Educated
93%
High-School Grad
17.2 sq mi
ZIP Area
1,253
Density / Sq Mi
$86,830
Median Household Income
$50,275
Median Earnings
$1,245
Median Rent
$211,500
Median Home Value
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 - Office and warehouse on 2.45 acres in Delhi Charter Township.
Where is this office building located?
The property is located at 1798 Holloway Dr Holt, MI.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: Prime location in Delhi Charter Township, only 1.2 miles from the US‑127 and Holt intersection.; Substantial 2.45‑acre property with well‑landscaped grounds, patio, and pond with fountain.; Versatile warehouse space: **1,120 SF with 15’ ceiling, 14’ x 20’ overhead door, and 600 SF mezzanine.**
