Flex Space with Overhead
For Sale
$675,000
Pending
80 W 64th St, Holland, MI 49423
COMMERCIAL - Holland, MI
Property Size7,680 SF
Days on Market1843
Property Features for 80 W 64th St
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Elementary school district
Holland
Middle school district
Holland
High school district
Holland
Directions
Holland Michigan 49423 Head south on S River Ave toward W 12th St 0.5 mi S River Ave turns slightly right and becomes Michigan Ave 0.9 mi Continue onto Washington Ave 2.2 mi Turn left onto W 64th St Destination will be on the right 0.4 mi 80 W 64th St Holland, MI 49423
Subdivision
Holland/Saugatuck - H
Standard status
Pending
APN
03-02-17-100-029
Size
7,680 SF
Taxes and HOA fees
Tax Description
COM N 1/4 COR SEC 17 TH S 89D 56M 05S W ALG N LI NW 1/4 SD SEC 801.15 FT TO POB TH S 00D 00M 14S W 1026.77 FT TO NLY ROW
Legal Description
COM N 1/4 COR SEC 17 TH S 89D 56M 05S W ALG N LI NW 1/4 SD SEC 801.15 FT TO POB TH S 00D 00M 14S W 1026.77 FT TO NLY ROW
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Building Details
Year built
2021
Floors in Building
1
Number of units
1
Listing Agency:
Colliers International Holland
(616) 394-4500
Listed By:
Thomas S Postma · License #6502135442
(616) 394-4500
Added: Aug 9, 2021
Changed: Aug 5
Last Checked: Aug 25 at 8:06PM
MLS# 21099568
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.
New industrial flex building (Phase I of II) is scheduled for completion in the Fall of 2021. Multiple suite options are available for lease or sale, sized from 3,840 SF to 37,375 SF, with flexibility to accommodate multiple tenants.
Suite 1 includes two 14 x 16 overhead doors, a 750 SF office, and restrooms both in the office and in the warehouse. The building is under construction with forced air heating, and natural gas is available.
The property is situated on Holland’s southside with close proximity to West Michigan Regional Airport and easy access to the M-40, US-31 and I-196 interchange, supporting straightforward movements for inbound and outbound logistics.
Suite 1 includes two 14 x 16 overhead doors, a 750 SF office, and restrooms both in the office and in the warehouse. The building is under construction with forced air heating, and natural gas is available.
The property is situated on Holland’s southside with close proximity to West Michigan Regional Airport and easy access to the M-40, US-31 and I-196 interchange, supporting straightforward movements for inbound and outbound logistics.
Key Highlights
- Phase I of II new industrial flex building scheduled for completion in Fall of 2021
- Multiple suite options available from 3,840 SF to 37,375 SF for lease or sale
- Suite 1 includes two 14 x 16 overhead doors
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
$27,466
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
4.07%
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%
$549,320
$549.3K
Cap Rate 7%
$392,371
$392.4K
Cap Rate 9%
$305,178
$305.2K
Market Conditions
NOI Build-Up for 7,680 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
$46.1K $6.00/SF
− Vacancy
−$3.8K −$0.50/SF
EGI
$42.3K $5.50/SF
− OpEx
−$14.8K −$1.93/SF
NOI
$27.5K $3.58/SF
Area
Ottawa County, MI
Vacancy
8.30%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
35.00%
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%
$549,320
Cap Rate 7%
$392,371
Cap Rate 9%
$305,178
Alternative Uses
Best Use
Warehouse
$1.85M
$1.62M – $2.16M
NOI $129,301 @ 7.0% cap · market cap 19.16%
Second Best
Industrial
$1.62M
$1.42M – $1.89M
NOI $113,335 @ 7.0% cap · market cap 16.79%
Theoretical Best
Multifamily LT 5
$95.50M
$83.57M – $111.42M
NOI $6,685,202 @ 7.0% cap · market cap 990.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
123
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Under-construction flex space with forced air heat, natural gas availability, and multiple suite options.
Where is this flex space located?
The property is located at 80 W 64th St Holland, MI.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Phase I of II new industrial flex building scheduled for completion in Fall of 2021; Multiple suite options available from 3,840 SF to 37,375 SF for lease or sale; Suite 1 includes two 14 x 16 overhead doors
