Industrial Condo Unit with
4518 128th Avenue 3 Holland, MI 49424
4518 128th Avenue 3, Holland, MI, 49424
Contact for pricing
For Sale
Contact for pricing
Condo Unit 3 offers clean manufacturing space with a loading dock, air-conditioned offices, and mezzanine area.
Property Size13,068 SF
Price / SF$103.31
Days on Market100
Property Features for 4518 128th Avenue 3
General Information
- Standard status
- Active
- Size
- 13,068 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 1996
Listing agency
Lakeshore Commercial Real Estates
(616) 283-2411
Listed by
Thomas Postma · License #MI 6502135442
Source
Crexi
Added: Apr 14 Updated: Jul 21 at 1:53PM Checked: Jul 21 at 1:53PM
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 Estates
Investment Insights
Based on property information with market context.
Condo Unit 3 is available for sale within a functional industrial building located in an established industrial park. The unit includes 1,404 SF of office space and 11,664 SF of very clean manufacturing space. Office and manufacturing space are both air-conditioned, and the unit includes one loading dock. The layout also features private offices, a breakroom, and a conference room. In addition, the unit offers approximately 1,458 SF of mezzanine space and clear height of 15'.
The building is described as being surrounded by complementary manufacturing facilities within the industrial park setting.
This offering is specifically for Condo Unit 3 (13,068 SF total), combining manufacturing, air-conditioned office space, and a mezzanine level to support a variety of light industrial and operational workflows.
The building is described as being surrounded by complementary manufacturing facilities within the industrial park setting.
This offering is specifically for Condo Unit 3 (13,068 SF total), combining manufacturing, air-conditioned office space, and a mezzanine level to support a variety of light industrial and operational workflows.
Key Highlights
- Condo Unit 3 for sale with 13,068 SF total, including 11,664 SF manufacturing and 1,404 SF office space
- Very clean manufacturing space with one loading dock for shipping and receiving
- Air‑conditioned office and manufacturing areas throughout the unit
Local Financial Insights For Flex RnD
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 | $78.4k | $6.00 |
| − Vacancy | −$6.5k | −$0.50 |
| EGI | $71.9k | $5.50 |
| − OpEx | −$25.2k | −$1.93 |
| NOI | $46.7k | $3.58 |
13,068 SF · lease $6.00/SF/yr · vacancy 8.30% · expense 35.00%
Alternative Uses
Best Use
Industrial
$2.75M
$2.41M – $3.21M
NOI $192,846 @ 7.0% cap · market cap 14.28%
Second Best
Office B
$2.06M
$1.80M – $2.40M
NOI $143,962 @ 7.0% cap · market cap 10.66%
Theoretical Best
Multifamily LT 5
$162.50M
$142.19M – $189.59M
NOI $11,375,289 @ 7.0% cap · market cap 842.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Pioneer Systems
Material Handling Equipment Supplier
Hybrid Machining, Inc.
Industrial Manufacturer
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Condo Unit 3 offers clean manufacturing space with a loading dock, air-conditioned offices, and mezzanine area.
Where is this flex space located?
The property is located at 4518 128th Avenue 3 Holland, MI.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Condo Unit 3 for sale with 13,068 SF total, including 11,664 SF manufacturing and 1,404 SF office space; Very clean manufacturing space with one loading dock for shipping and receiving; Air‑conditioned office and manufacturing areas throughout the unit
