Historic Fire Barn in Grand
For Sale
$1,495,000
18 N 5th St, Grand Haven, MI 49417
Renovated fire barn with redevelopment potential in downtown Grand Haven.
Property Size11,584 SF
Price / SF$129.06
Days on Market98
Property Features for 18 N 5th St
General Information
Standard status
Active
Size
11,584 SF
Property subtype
Commercial
Building Details
Year Built
1937
Listing Agency:
Capstone Real Estate LLC
(616) 847-1031
Listed By:
David Ten Cate · License #6502325769
(616) 847-1031
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 30 at 6:04AM
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 Capstone Real Estate LLC
Investment Insights
Based on property information with market context.
Located in downtown Grand Haven, this historic fire barn, originally constructed in 1937, was renovated in 2024 while preserving its original architecture. The 11,584 square foot building overlooks Central Park and is situated blocks from the waterfront. A glass vestibule entry leads into a 3,500 square foot, fully refurbished bi-level space that includes 8 offices, a conference room, a large open concept gathering area featuring 18-foot ceilings and exposed ductwork, a full kitchen with original brickwork and hose tower, and 3 restrooms. An unfinished 2,200 square foot second level and a 5,500 square foot garage structure offer additional redevelopment opportunities. The property is suitable for various uses, including an upscale office, future residential development, or a combination of uses. Its corner lot location provides easy access and visibility. The building has a walk score of 76, indicating it is very walkable, and a bike score of 63, indicating it is bikeable.
Key Highlights
- Premier downtown corner lot location with easy access and excellent visibility.
- Historic 1937 fire barn building with artfully maintained original architecture, renovated in 2024.
- 11,584 SF building overlooking Central Park, blocks from the waterfront.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $197.4k | $17.04 |
| − Vacancy | −$27.2k | −$2.35 |
| EGI | $170.2k | $14.69 |
| − OpEx | −$42.5k | −$3.67 |
| NOI | $127.6k | $11.02 |
11,584 SF · lease $17.04/SF/yr · vacancy 13.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.82M
$1.60M – $2.13M
NOI $127,614 @ 7.0% cap · market cap 8.54%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$144.05M
$126.04M – $168.06M
NOI $10,083,513 @ 7.0% cap · market cap 674.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,213
Businesses Nearby
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Renovated fire barn with redevelopment potential in downtown Grand Haven.
Where is this office building located?
The property is located at 18 N 5th St Grand Haven, MI.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Premier downtown corner lot location with easy access and excellent visibility.; Historic 1937 fire barn building with artfully maintained original architecture, renovated in 2024.; 11,584 SF building overlooking Central Park, blocks from the waterfront.
