First-Floor Office
For Sale
Contact for pricing
224 S River Avenue 1st Floor, Holland, MI 49423
Ground-level commercial space includes private parking near downtown shops, restaurants, and parks.
Property Size2,474 SF
Price / SF$0.01
Days on Market65
Property Features for 224 S River Avenue 1st Floor
General Information
Standard status
Active
Size
2,474 SF
Additional Details
Floor
First Floor
Road Access
Yes
Amenities
snowmelt system
Listing Agency:
Coldwell Banker Woodland Schmidt Commercial
Listed By:
Brett Zeerip · License #6501333999
(616) 396-8649
Source:
Corneliusteam
Added: Aug 19
Changed: Oct 16
Last Checked: Oct 20 at 8:29PM
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 Coldwell Banker Woodland Schmidt Commercial
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Investment Insights
Based on property information with market context.
This first-floor office suite contains 2,474 square feet within a commercial building constructed in 1940. The space is positioned for office or retail use and includes access to a private parking lot. The property occupies the corner of River Avenue and 9th Street in downtown Holland, with sidewalks equipped with a snowmelt system. Shops, restaurants, and parks are within walking distance, providing a walkable setting for occupants and visitors.
Key Highlights
- 2,474‑square‑foot first‑floor office and retail suite
- Private parking lot included
- Corner location at River Avenue and 9th Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,682
Suggested Prices Based on Cap Rates
Cap Rate 5%
$513,640
$513.6K
Cap Rate 7%
$366,886
$366.9K
Cap Rate 9%
$285,356
$285.4K
Market Conditions
NOI Build-Up for 2,474 SF
Gross rent
$38.3K $15.48/SF
− Vacancy
−$1.6K −$0.65/SF
EGI
$36.7K $14.83/SF
− OpEx
−$11.0K −$4.45/SF
NOI
$25.7K $10.38/SF
Area
Ottawa County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$513,640
Cap Rate 7%
$366,886
Cap Rate 9%
$285,356
Alternative Uses
Best Use
Office B
$389.3K
$340.7K – $454.2K
NOI $27,254 @ 7.0% cap · market cap 170,337.50%
Second Best
Retail
$366.9K
$321.0K – $428.0K
NOI $25,682 @ 7.0% cap · market cap 160,512.50%
Theoretical Best
Multifamily LT 5
$30.76M
$26.92M – $35.89M
NOI $2,153,540 @ 7.0% cap · market cap 13,459,625.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,269
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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Ground-level commercial space includes private parking near downtown shops, restaurants, and parks.
Where is this office unit located?
The property is located at 224 S River Avenue 1st Floor Holland, MI.
What are key features of this property?
This property features: 2,474‑square‑foot first‑floor office and retail suite; Private parking lot included; Corner location at River Avenue and 9th Street
