Self Storage Facility with High
For Sale
$389,500
460 Cleveland Avenue, Holland, MI 49423
Commercial Sale, Holland, MI
Property Size1,920 SF
Lot Size1.11 Acres
Price / SF$202.86
Days on Market849
Property Features for 460 Cleveland Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning description
RMU
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Broadband
Elementary school district
Holland
Middle school district
Holland
High school district
Holland
Directions
West on 16th Street to Ottawa Avenue, go South on Ottawa Avenue to building.
Subdivision
Holland/Saugatuck - H
Standard status
Active
APN
70-16-31-209-001
Size
1,920 SF
Lot size
1.11 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOTS 46 TO 59 INCLUSIVE, ALSO S 1/2 OF VAC 19TH ST & ALL OF VAC ALLEY ADJ TO SD LOTS. WEERSING'S 1ST ADD SEC 31 T5N R15
Tax Annual Amount
28865
Legal Description
LOTS 46 TO 59 INCLUSIVE, ALSO S 1/2 OF VAC 19TH ST & ALL OF VAC ALLEY ADJ TO SD LOTS. WEERSING'S 1ST ADD SEC 31 T5N R15
Utilities
Utilities
Cable Available
Heating system
Forced Air
Amenities
overhead door with operator
front and rear service doors
Building Details
Year built
2025
Floors in Building
1
Number of units
1
Building materials
Metal Siding
Listing Agency:
Lakeshore Commercial Real Estate
(616) 394-4500
Listed By:
Thomas S Postma · License #6502135442
(616) 283-2411
Added: Jun 10, 2024
Changed: Sep 7
Last Checked: Oct 6 at 1:06AM
MLS# 24029233
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.
Investment Insights
Based on property information with market context.
This under-construction self storage development includes 11 storage building or condominium units on 1.11 acres. Available configurations range from 1,920 to 5,760 square feet, with 22'+ ceiling heights, a 14' x 16' powered overhead door, and service doors at both the front and rear. The improvements are planned for 2025 construction and feature metal siding, forced-air heating, broadband, cable availability, and a bathroom.
Five condo units are under contract, leaving 6 condo units remaining. The property is located at 460 Cleveland Avenue in Holland, Michigan, near Lake Macatawa, offering a practical setting for storage users with larger equipment or boats.
Five condo units are under contract, leaving 6 condo units remaining. The property is located at 460 Cleveland Avenue in Holland, Michigan, near Lake Macatawa, offering a practical setting for storage users with larger equipment or boats.
Key Highlights
- 11 storage building/condo units on 1.11 acres
- Remaining configurations range from 1,920 - 5,760 SF
- 22'+ ceiling height in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,325
Cap Rate
8.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$646,500
$646.5K
Cap Rate 7%
$461,786
$461.8K
Cap Rate 9%
$359,167
$359.2K
Market Conditions
NOI Build-Up for 1,920 SF
Gross rent
$41.5K $21.60/SF
− Vacancy
−$3.4K −$1.79/SF
EGI
$38.0K $19.81/SF
− OpEx
−$5.7K −$2.97/SF
NOI
$32.3K $16.84/SF
Area
Ottawa County, MI
Vacancy
8.30%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$646,500
Cap Rate 7%
$461,786
Cap Rate 9%
$359,167
Alternative Uses
Best Use
Warehouse
$461.8K
$404.1K – $538.8K
NOI $32,325 @ 7.0% cap · market cap 8.30%
Second Best
Self Storage
$265.3K
$232.2K – $309.6K
NOI $18,574 @ 7.0% cap · market cap 4.77%
Theoretical Best
Multifamily LT 5
$23.88M
$20.89M – $27.86M
NOI $1,671,300 @ 7.0% cap · market cap 429.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
528
Businesses Nearby
Explore this area
Business Placement
Demographics for 49423, MI
46,870
Population
19,019
Households
2.5
Avg Household Size
37
Median Age
37%
College-Educated
92%
High-School Grad
77.9 sq mi
ZIP Area
602
Density / Sq Mi
$78,524
Median Household Income
$36,643
Median Earnings
$1,143
Median Rent
$254,800
Median Home Value
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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?
Self storage facility - Under-construction storage condos offer multiple configurations with overhead and service-door access.
Where is this self storage facility located?
The property is located at 460 Cleveland Avenue Holland, MI.
What is the asking price?
The asking price for this property is $389,500.
What are key features of this property?
This property features: 11 storage building/condo units on 1.11 acres; Remaining configurations range from 1,920 - 5,760 SF; 22'+ ceiling height in each unit
