Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Holland Office Space For Lease Title is generated by Realmo AI

    577 Michigan Avenue 1, Holland, MI 49423

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $18 SF/Yr

    Office space for lease across from Holland Hospital.

    Type:Rental
    Lot size:
    1.69 Acres
    Added:
    Dec 30, 2024
    Days on Market:
    507
    Last Refresh:
    May 20 at 12:32 am

    Property Features for 577 Michigan Avenue 1

    General Information

    Standard status
    Active
    Lot size
    1.69 Acres
    Property subtype
    Rental

    Building Details

    Year Built
    1995

    We can help!

    Listing Contact
    Drew Alan Durham
    Drew Alan Durham

    Listing agent Drew Alan Durham License #6501355882

    Listing office Lakeshore Commercial Real Estate

    Listing date Dec 30, 2024

    Source Exitrealty

    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

    HighLights

    • Prime location directly across from Holland Hospital
    • Suitable for medical or general office use
    • Multiple offices including exam rooms
    • Includes waiting room, supply room, and breakroom
    • Built in 1995
    • Located on the south side of Holland

    Overview

    Office space is available for lease on the south side of Holland. The space is suitable for either medical or general office use. The building benefits from its location directly across from Holland Hospital. The layout includes multiple offices, exam rooms, a waiting room, a supply room, and a breakroom.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr. Mark C. ... Dental Office John Ludlow, MD Physician Dr. Stephen J. ... Physician Lakeshore Surgical Associates Medical Clinic Messing Christina DO Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Holland
    County
    Ottawa
    State
    Michigan
    Longitude
    -86.111556
    Latitude
    42.775285

    Nearby Similar for Lease

    • $20 SF/Yr
      2,606 SF

      Renovated Commercial Space in Holland

      Professionally renovated commercial space with modern finishes and excellent accessibility.
      983 Lincoln Avenue, Holland, MI 49423
      View Details
    • $12 SF/Yr
      1,194 SF

      Holland Office Space For Lease

      Office suite with practical layout in a convenient Holland location.
      272 E 26th Street, Holland, MI 49423
      View Details
    • $21 SF/Yr
      11,580 SF

      Versatile Office Space in Holland

      Adaptable office space with co-working options in Holland, Michigan.
      85 E 8th Street, Holland, MI 49423
      View Details
    • $23 SF/Yr
      8,344 SF

      Holland Office Space For Rent

      8,344 SF office space with flexible co-working areas available.
      85 E 8th Street, Holland, MI 49423
      View Details
    • $21 SF/Yr
      8,343 SF

      Holland Office Space For Rent

      Office space available in Holland, featuring flexible co-working areas.
      85 E 8th Street, Holland, MI 49423
      View Details
    • $12 SF/Yr
      3,000 SF

      Holland Commercial Condo with Office

      Commercial condo with office and garage space in Holland, MI.
      11322 E Lakewood Boulevard, Holland, MI 49424
      View Details
    • $17 SF/Yr
      6,641 SF

      Holland Office Space For Rent

      High-profile office building with suites available for lease.
      601 Michigan Avenue, Holland, MI 49423
      View Details
    • $17 SF/Yr
      4,235 SF

      Holland Office Space For Rent

      High-profile office building across from Holland Hospital with flexible space.
      601 Michigan Avenue, Holland, MI 49423
      View Details
    • $7 SF/Yr
      10,380 SF

      Holland Commercial Building For Lease

      Centrally located flex/industrial/office/warehouse space near Chicago Drive.
      10841 Paw Paw Drive, Holland, MI 49424
      View Details
    • $20 SF/Yr
      3,237 SF

      Downtown Holland Office Space Available

      3,237 SF office suite with kitchenette and conference room.
      85 E 8th Street, Holland, MI 49423
      View Details
    • $14 SF/Yr
      2,918 SF

      Spacious Lower-Level Office Suite

      2,918 SF office suite near downtown Holland available for lease.
      240 E 8th Street, Holland, MI 49423
      View Details
    • $8 SF/Yr
      18,012 SF

      Versatile Commercial Space in Holland

      Former car dealership with flexible space and high visibility.
      343 E 8th Street, Holland, MI 49423
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Office space for lease across from Holland Hospital.
    Where is this medical office space located?
    The property is located at 577 Michigan Avenue 1 Holland, MI.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: Prime location directly across from Holland Hospital; Suitable for medical or general office use; Multiple offices including exam rooms
    (616) 394-4500
    We can help!
    Listing Contact
    Drew Alan Durham
    Drew Alan Durham
    Real Estate License ID: 6501355882
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    577 Michigan Avenue 1, Holland, MI 49423
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!