Building Details

Tenancy Single

Listing Agency: Coldwell Banker Woodland Schmidt h***@cbgreatlakes.com Show Phone

Listed By: The Jim and Bernie Team · License #6506041602 Show Phone

Source: Exprealty

Added: Aug 13 Changed: Oct 13 Last Checked: Oct 13 at 12:15AM

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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.

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 / Yr

$66,098

Cap Rate

6.78%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $66,098 @ 7.0% cap · market cap 6.78%

Second Best

Healthcare Medical

$710.8K

$621.9K – $829.2K (±1% cap)

NOI $49,753 @ 7.0% cap · market cap 5.10%

Theoretical Best

Multifamily LT 5

$74.61M

$65.29M – $87.05M (±1% cap)

NOI $5,222,814 @ 7.0% cap · market cap 535.67%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Medical Office Space

Suggested Use

Top Pick Parking Lot & Garage Daycare Center Plumbing Service (Bike/Boat/Book/etc) Store Catering Service Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

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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 $975,000.

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