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    Versatile Commercial Space in Holland Title is generated by Realmo AI

    343 E 8th Street, Holland, MI 49423

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    For Lease
    $8 SF/Yr $12,008/Mo (calc)

    COMMERCIAL - Holland, MI

    Type:Office
    Property size:
    18,012 SF
    Lot size:
    1.51 Acres
    Added:
    Apr 14, 2026
    Days on Market:
    31
    Last Refresh:
    May 14 at 2:06 pm

    Property Features for 343 E 8th Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Rooms
    Basement
    Parking features
    Driveway
    Fireplace
    1
    Standard status
    Active
    APN
    70-16-28-138-043
    Size
    18,012 SF
    Lot size
    1.51 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    LOTS 27 THRU 35 EXC M-21 R/W, ALSO THAT PART OF S 330 FT OF NW 1/4 LYING S OF SEVENTH ST, NW'LY OF M-21 R/W & E OF H.P. ZWEMER'S SUB. SEC 28 T5N R15W & H.P. ZWEMER'S SUB FROM 16-28-179-002 THRU008 8/94

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1963
    Number of units
    3
    Building materials
    Aluminum Siding
    Roof type
    Rubber, Metal

    We can help!

    Listing Contact
    The Jim and Bernie Team

    Listing agent The Jim and Bernie Team

    Listing office Coldwell Banker Woodland Schmidt 466 E 16th St, Holland, MI

    Listing date Apr 14, 2026

    MLS# 26015632

    Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High‑visibility location in a well‑trafficked corridor near downtown Holland.
    • Substantial square footage (totaling over 18,000 SF) with flexible commercial space.
    • Three distinct units offering unique functionality: showroom, service facility, and pole building.
    • Former auto service facility (8,594 SF) ideal for auto‑related businesses.
    • Separate pole building (6,400 SF) with office space suitable for warehousing or light industrial use.
    • Versatile property suitable for investors or owner‑users with endless potential.

    Overview

    Located in a high-traffic area near downtown Holland, the property at 343 E 8th Street offers a commercial space with substantial square footage. The property includes three units. Unit 1, the former showroom, offers approximately 3,151 square feet of space. It features an open floor plan, private offices, restrooms, and a basement. The space is suitable for retail, office, or showroom use. Unit 2, the former auto service facility, provides approximately 8,594 square feet. Designed for high-capacity operations, this space includes a large open work area and a basement with restrooms and additional storage or office space. It is suitable for an auto body shop, mechanic, or repair business. Unit 3 is a separate pole building with approximately 6,400 square feet, office space, and room for warehousing, light industrial use, or business expansion. The property is situated on a 1.51-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    VerHage Mitsubishi Service Car Dealership Verhage Motors Car Dealership

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Take 5 Oil Change — 632 E 16th St, Holland, MI 49423
    • Barber Ford Collision — 640 E 8th St, Holland, MI 49423
    • DeNooyer Chevrolet Service & Parts Department — 600 E 8th St Suite A, Holland, MI 49423
    • DeNooyer Collision Center - Free Loaners — 600 E 8th St Suite B, Holland, MI 49423
    • Barber Ford Service — 640 E 8th St, Holland, MI 49423

    Location Insight

    • Map
    • Local Demand
    City
    Holland
    County
    Ottawa
    State
    Michigan
    Longitude
    -86.092069
    Latitude
    42.790928

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    FAQs

    What type of property is this?
    Auto shop - Former car dealership with flexible space and high visibility.
    Where is this auto shop located?
    The property is located at 343 E 8th Street Holland, MI.
    What is the lease rate?
    The lease rate is $8 SF/Yr.
    What are key features of this property?
    This property features: High‑visibility location in a well‑trafficked corridor near downtown Holland.; Substantial square footage (totaling over 18,000 SF) with flexible commercial space.; Three distinct units offering unique functionality: showroom, service facility, and pole building.
    (616) 355-3650
    We can help!
    Listing Contact
    The Jim and Bernie Team
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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