End-Unit Medical Office
For Sale
$1,050,000
7-12-11595 E Lakewood Boulevard, Holland, MI 49424
C-2-zoned commercial space offers private offices, open areas, and multiple access points for adaptable operations.
Property Size6,000 SF
Price / SF$175
Days on Market17
Property Features for 7-12-11595 E Lakewood Boulevard
General Information
Standard status
Active
Size
6,000 SF
Zoning
C-2
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$17,758
Building Details
Tenancy
Single
Listing Agency:
Coldwell Banker Woodland Schmidt
(616) 355-3650
Listed By:
The Jim and Bernie Team · License #6506041602
(616) 355-3650
Source:
Exprealty
Added: Aug 13
Changed: Aug 29
Last Checked: Aug 29 at 7:36AM
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 Coldwell Banker Woodland Schmidt
Investment Insights
Based on property information with market context.
This 6,000-square-foot end-unit medical office property is configured with multiple private offices, reception areas, a large open room, five bathrooms, and a laundry room. Six separate entrances and exits support distinct access patterns and may accommodate varied internal workflows or future space divisions. The property is currently arranged for physical therapy use and provides a functional framework for medical, professional, service, retail, or other permitted commercial applications.
Located on E. Lakewood Boulevard in Holland Charter Township, the property carries C-2 zoning and includes ample parking. Its layout combines enclosed rooms, shared reception space, open-area capacity, and multiple points of entry within a single commercial suite.
Located on E. Lakewood Boulevard in Holland Charter Township, the property carries C-2 zoning and includes ample parking. Its layout combines enclosed rooms, shared reception space, open-area capacity, and multiple points of entry within a single commercial suite.
Key Highlights
- 6,000‑square‑foot end‑unit medical office space
- C‑2 zoning in Holland Charter Township
- Multiple private offices, reception areas, and large open space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$66,098
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,321,960
$1.3M
Cap Rate 7%
$944,257
$944.3K
Cap Rate 9%
$734,422
$734.4K
Market Conditions
NOI Build-Up for 6,000 SF
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.
Gross rent
$102.2K $17.04/SF
− Vacancy
−$14.1K −$2.35/SF
EGI
$88.1K $14.69/SF
− OpEx
−$22.0K −$3.67/SF
NOI
$66.1K $11.02/SF
Area
Ottawa County, MI
Vacancy
13.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,321,960
Cap Rate 7%
$944,257
Cap Rate 9%
$734,422
Alternative Uses
Best Use
Office B
$944.3K
$826.2K – $1.10M
NOI $66,098 @ 7.0% cap · market cap 6.30%
Second Best
Healthcare Medical
$710.8K
$621.9K – $829.2K
NOI $49,753 @ 7.0% cap · market cap 4.74%
Theoretical Best
Multifamily LT 5
$74.61M
$65.29M – $87.05M
NOI $5,222,814 @ 7.0% cap · market cap 497.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
Under-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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Emergency Veterinary Care Centers — 369 136th Ave, Holland, MI 49424
Frequently Asked Questions
What type of property is this?
Medical Office Space - C-2-zoned commercial space offers private offices, open areas, and multiple access points for adaptable operations.
Where is this medical office space located?
The property is located at 7-12-11595 E Lakewood Boulevard Holland, MI.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 6,000‑square‑foot end‑unit medical office space; C‑2 zoning in Holland Charter Township; Multiple private offices, reception areas, and large open space
