26-791 Case Karsten Dr, Zeeland, MI 49464

Building Details

Construction steel walls More

Listing Agency: Coldwell Banker Woodland Schmidt ART Office Show Phone

Listed By: Derrek Sterken · License #6501451743 Show Phone

Source: Exprealty

Added: Sep 1 Changed: Oct 26 Last Checked: Nov 6 at 10:49AM

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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 ART Office

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Investment Insights

Based on property information with market context.

This warehouse unit is designed for flexible storage and personal or small-business use. The 16' x 48' configuration provides room for boats, RVs, vehicles, recreational equipment, a workshop, hobby activities, or a private hangout. Improvements include steel wall construction, a unit heater, a cold water spigot, and plumbing in place for a bathroom.

The property is located off Riley St in Zeeland, Michigan, at 26-791 Case Karsten Dr. Construction is scheduled for completion in October.

Key Highlights

• 16' x 48' warehouse unit
• Steel wall construction with unit heater
• Cold water spigot installed

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,930

Cap Rate

7.84%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$258,600 $258.6K

Cap Rate 7%

$184,714 $184.7K

Cap Rate 9%

$143,667 $143.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 768 SF

Gross rent

$16.6K $21.60/SF

− Vacancy

−$1.4K −$1.79/SF

EGI

$15.2K $19.81/SF

− OpEx

−$2.3K −$2.97/SF

NOI

$12.9K $16.84/SF

Area

Ottawa County, MI

Vacancy

8.30%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$258,600

Cap Rate 7%

$184,714

Cap Rate 9%

$143,667

Alternative Uses

Best Use

Warehouse

$184.7K

$161.6K – $215.5K (±1% cap)

NOI $12,930 @ 7.0% cap · market cap 7.84%

Second Best

Industrial

$161.9K

$141.7K – $188.9K (±1% cap)

NOI $11,333 @ 7.0% cap · market cap 6.87%

Theoretical Best

Multifamily LT 5

$9.55M

$8.36M – $11.14M (±1% cap)

NOI $668,520 @ 7.0% cap · market cap 405.16%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Restaurant Spa & Massage Center Building Supply Pharmacy Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

499

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 49464, MI

29,654

Population

11,001

Households

2.7

Avg Household Size

37

Median Age

35%

College-Educated

95%

High-School Grad

73.1 sq mi

ZIP Area

406

Density / Sq Mi

$97,573

Median Household Income

$47,030

Median Earnings

$976

Median Rent

$316,700

Median Home Value

Market

Average Price Trend$/SF for Warehouses in Ottawa County, MI

$145 Jul

$147 Aug

$152 Sep

$142 Oct

Properties on Market for Warehouses in Ottawa County

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Warehouse - Purpose-built unit offers storage, workshop, hobby, and recreational equipment applications with utility-ready improvements.

Where is this warehouse located?

The property is located at 26-791 Case Karsten Dr Zeeland, MI.

What is the asking price?

The asking price for this property is $165,000.

What are key features of this property?

This property features: 16' x 48' warehouse unit; Steel wall construction with unit heater; Cold water spigot installed