Industrial Flex
New
For Sale
$795,000
4498 128th Ave, Holland, MI 49424
Condo Unit 1 offers open industrial space in an established park among manufacturing facilities.
Property Size7,030 SF
Price / SF$113.09
Days on Market5
Property Features for 4498 128th Ave
General Information
Standard status
Active
Size
7,030 SF
Property subtype
Commercial
Building Details
Year Built
1996
Listing Agency:
Lakeshore Commercial Real Estate
Listed By:
Thomas S Postma · License #6502135442
(616) 283-2411
Source:
Metrodetroithomeguide
Added: Oct 7
Changed: Oct 10
Last Checked: Oct 11 at 6:34AM
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.
Condo Unit 1 is a 7,030-square-foot industrial space built in 1996. Its open layout is suited to a range of flex and industrial configurations.
The property is within an established industrial park, with manufacturing facilities in the surrounding area. The location has a bike score of 46 and a walk score of 4.
The property is within an established industrial park, with manufacturing facilities in the surrounding area. The location has a bike score of 46 and a walk score of 4.
Key Highlights
- 7,030 SF of open industrial space in Condo Unit 1
- Built in 1996
- Located in an established industrial park near manufacturing facilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,141
Cap Rate
3.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$502,820
$502.8K
Cap Rate 7%
$359,157
$359.2K
Cap Rate 9%
$279,344
$279.3K
Market Conditions
NOI Build-Up for 7,030 SF
Gross rent
$42.2K $6.00/SF
− Vacancy
−$3.5K −$0.50/SF
EGI
$38.7K $5.50/SF
− OpEx
−$13.5K −$1.93/SF
NOI
$25.1K $3.58/SF
Area
Ottawa County, MI
Vacancy
8.30%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$502,820
Cap Rate 7%
$359,157
Cap Rate 9%
$279,344
Alternative Uses
Best Use
Industrial
$1.48M
$1.30M – $1.73M
NOI $103,743 @ 7.0% cap · market cap 13.05%
Second Best
Flex RnD
$359.2K
$314.3K – $419.0K
NOI $25,141 @ 7.0% cap · market cap 3.16%
Theoretical Best
Multifamily LT 5
$87.42M
$76.49M – $101.99M
NOI $6,119,397 @ 7.0% cap · market cap 769.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
65
Businesses Nearby
Well-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Condo Unit 1 offers open industrial space in an established park among manufacturing facilities.
Where is this flex space located?
The property is located at 4498 128th Ave Holland, MI.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 7,030 SF of open industrial space in Condo Unit 1; Built in 1996; Located in an established industrial park near manufacturing facilities
