Restaurant Opportunity at High-Traffic
442 E 32nd St Holland, MI 49423
For Sale
$850,000
6,206 SF restaurant with complete kitchen package available for purchase.
Property Size6,206 SF
Price / SF$136.96
Days on Market98
Property Features for 442 E 32nd St
General Information
Standard status
Active
Size
6,206 SF
Property subtype
Commercial
Building Details
Year Built
1986
Listing Agency:
Lakeshore Commercial Real Estate
(616) 836-1122
Listed By:
Michael Nagelkirk · License #6501194952
(616) 836-1122
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 29 at 1:29PM
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 Lakeshore Commercial Real Estate
Investment Insights
Based on property information with market context.
Located at a high-profile, lighted corner on US 31 and 32nd St in Holland, MI, this 6,206 sq. ft. restaurant offers easy access and high visibility. Traffic counts are 16,875 E & W, and 27,710 N & S. The established location formerly operated as Shanghai Grill & Pub. The restaurant includes a small cocktail lounge, banquet room, and 3 restrooms. A 30-ft. long hood system, 2 walk-in coolers, 1 walk-in freezer, and a complete kitchen package are in place and available. A Class C Resort License is also available for purchase. The bike score is 41, indicating it is somewhat bikeable, and the walk score is 30, indicating car-dependent accessibility.
Key Highlights
- High‑profile, lighted corner location at a major intersection (US 31 and 32nd St).
- Existing restaurant infrastructure: 30‑ft hood system, 2 walk‑in coolers, 1 walk‑in freezer, and complete kitchen package.
- Available Class C Resort License for purchase.
Financial Insights For Specialty Retail
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 | $96.1k | $15.48 |
| − Vacancy | −$4.0k | −$0.65 |
| EGI | $92.0k | $14.83 |
| − OpEx | −$23.0k | −$3.71 |
| NOI | $69.0k | $11.12 |
6,206 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$986.1K
$862.8K – $1.15M
NOI $69,025 @ 7.0% cap · market cap 8.12%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$77.17M
$67.53M – $90.04M
NOI $5,402,131 @ 7.0% cap · market cap 635.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Conventional restaurant - 6,206 SF restaurant with complete kitchen package available for purchase.
Where is this conventional restaurant located?
The property is located at 442 E 32nd St Holland, MI.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: High‑profile, lighted corner location at a major intersection (US 31 and 32nd St).; Existing restaurant infrastructure: 30‑ft hood system, 2 walk‑in coolers, 1 walk‑in freezer, and complete kitchen package.; Available Class C Resort License for purchase.
