Storefront Property with
For Sale
$695,000
392 136th Ave, Holland, MI 49424
Vacant C-2 commercial building configured for office/showroom use with three drive-thru lanes.
Property Size4,441 SF
Lot Size1.29 Acres
Price / SF$156.50
Days on Market473
Property Features for 392 136th Ave
General Information
Standard status
Active
Size
4,441 SF
Lot size
1.29 Acres
Property subtype
Retail
Zoning
C-2
Site & Location
Drive-Thru
Yes
Pylon Signage
Yes
Road Access
Yes
Amenities
Water
Sewer
Building Details
Year Built
1974
Buildings
1
Listing Agency:
NAI Wisinski of West Michigan
(616) 575-7006
Listed By:
Chandler Kennell · License #6501460922
(616) 575-7006
Source:
Carwm.resimplifi
Added: May 15, 2025
Changed: Aug 29
Last Checked: Aug 29 at 7:03PM
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 NAI Wisinski of West Michigan
Investment Insights
Based on property information with market context.
Built in 1974, this vacant commercial property contains a 4,441 SF building on 1.29 acres. The interior is arranged for office and showroom functions, while the improvements retain a three-lane drive-thru configuration from the building’s former bank use.
The property is located at 392 136th Ave in Holland, with one access point from Butternut Drive and two from 136th Avenue. Pylon signage is available along both roads, which carry reported volumes of more than 14,000 VPD on Butternut Drive and 13,000 VPD on 136th Avenue. C-2 zoning supports retail, office, medical, and service uses, and the property has no deed restrictions for banks or financial institutions.
The property is located at 392 136th Ave in Holland, with one access point from Butternut Drive and two from 136th Avenue. Pylon signage is available along both roads, which carry reported volumes of more than 14,000 VPD on Butternut Drive and 13,000 VPD on 136th Avenue. C-2 zoning supports retail, office, medical, and service uses, and the property has no deed restrictions for banks or financial institutions.
Key Highlights
- 4,441 SF building on 1.29 acres
- Three‑lane drive‑thru configuration
- C‑2 Commercial Zoning
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
$48,924
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
7.04%
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%
$978,480
$978.5K
Cap Rate 7%
$698,914
$698.9K
Cap Rate 9%
$543,600
$543.6K
Market Conditions
NOI Build-Up for 4,441 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
$75.7K $17.04/SF
− Vacancy
−$10.4K −$2.35/SF
EGI
$65.2K $14.69/SF
− OpEx
−$16.3K −$3.67/SF
NOI
$48.9K $11.02/SF
Area
Ottawa County, MI
Vacancy
13.80%
Lease Rate
$17.04 /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%
$978,480
Cap Rate 7%
$698,914
Cap Rate 9%
$543,600
Alternative Uses
Best Use
Office B
$698.9K
$611.6K – $815.4K
NOI $48,924 @ 7.0% cap · market cap 7.04%
Second Best
Retail
$658.6K
$576.3K – $768.4K
NOI $46,102 @ 7.0% cap · market cap 6.63%
Theoretical Best
Multifamily LT 5
$55.23M
$48.32M – $64.43M
NOI $3,865,753 @ 7.0% cap · market cap 556.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
485
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49424, MI
47,963
Population
19,906
Households
2.4
Avg Household Size
38
Median Age
34%
College-Educated
89%
High-School Grad
57.3 sq mi
ZIP Area
837
Density / Sq Mi
$82,353
Median Household Income
$41,316
Median Earnings
$1,157
Median Rent
$270,000
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?
Storefront property - Vacant C-2 commercial building configured for office/showroom use with three drive-thru lanes.
Where is this storefront property located?
The property is located at 392 136th Ave Holland, MI.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 4,441 SF building on 1.29 acres; Three‑lane drive‑thru configuration; C‑2 Commercial Zoning
