815 E Main Avenue, Zeeland, MI 49464

Building Details

Building Size 2,304 SF More

Year Built 2005 More

Listing Agency: Coldwell Banker Woodland Schmidt Saugatuck

Listed By: Nico Leo · License #6501212845 Show Phone

Source: Carinirealtors

Added: May 12 Changed: Oct 26 Last Checked: Nov 6 at 7:06AM

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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 Saugatuck

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 2,304-square-foot office property was built in 2005 and previously operated as a Macatawa Bank branch. The building includes a drive-through, with a large parking area on site. No use restrictions are recorded for the property.

Positioned at Zeeland’s east entrance, the property offers access to I-196. The described use possibilities include office, retail, food service, and redevelopment.

Key Highlights

• 2,304‑square‑foot office property built in 2005
• Former Macatawa Bank branch with an existing drive‑through
• Large on‑site parking area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,382

Cap Rate

3.65%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$507,640 $507.6K

Cap Rate 7%

$362,600 $362.6K

Cap Rate 9%

$282,022 $282.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,304 SF

Gross rent

$39.3K $17.04/SF

− Vacancy

−$5.4K −$2.35/SF

EGI

$33.8K $14.69/SF

− OpEx

−$8.5K −$3.67/SF

NOI

$25.4K $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%

$507,640

Cap Rate 7%

$362,600

Cap Rate 9%

$282,022

Alternative Uses

Best Use

Office B

$362.6K

$317.3K – $423.0K (±1% cap)

NOI $25,382 @ 7.0% cap · market cap 3.65%

Second Best

Retail

$341.7K

$299.0K – $398.6K (±1% cap)

NOI $23,918 @ 7.0% cap · market cap 3.44%

Theoretical Best

Multifamily LT 5

$28.65M

$25.07M – $33.43M (±1% cap)

NOI $2,005,561 @ 7.0% cap · market cap 288.57%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Macatawa Bank Bank

Suggested Use

Top Pick Restaurant Real Estate Agency Pharmacy Spa & Massage Center Law Firm Auto Parts Store

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

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

355

Businesses Nearby

Explore this area Business Placement

Demographics for 49464, MI

29,654

Population

11,001

Households

2.7

Avg Household Size

37

Median Age

35%

College-Educated

95%

High-School Grad

73.1 sq mi

ZIP Area

406

Density / Sq Mi

$97,573

Median Household Income

$47,030

Median Earnings

$976

Median Rent

$316,700

Median Home Value

Market

Average Price Trend$/SF for Office buildings in Ottawa County, MI

$157 Jul

$146 Aug

$142 Sep

$175 Oct

Properties on Market for Office buildings in Ottawa County

Jul

Aug

Sep

Oct

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

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Frequently Asked Questions

What type of property is this?

Office building - The site includes a large parking area and existing drive-through infrastructure.

Where is this office building located?

The property is located at 815 E Main Avenue Zeeland, MI.

What is the asking price?

The asking price for this property is $695,000.

What are key features of this property?

This property features: 2,304‑square‑foot office property built in 2005; Former Macatawa Bank branch with an existing drive‑through; Large on‑site parking area