Finished Second-Floor Office
For Sale
$1,745,110
85 E 8th St Unit 230, Holland, MI 49423
Fully finished workspace combines private offices, open areas, and a window-lined break room.
Property Size5,107 SF
Price / SF$341.71
Days on Market185
Property Features for 85 E 8th St Unit 230
General Information
Standard status
Active
Size
5,107 SF
Property subtype
Commercial
Additional Details
Floor
2
Amenities
large break room
floor to ceiling windows
Building Details
Year Built
2002
Listing Agency:
Lakeshore Commercial Real Estate
Listed By:
Jason DeWitt · License #6501331667
(616) 394-4500
Source:
Vmrealestatemichigan
Added: Mar 8
Changed: Sep 2
Last Checked: Sep 8 at 8:40AM
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
Investment Insights
Based on property information with market context.
Suite 230 is a 5,107-square-foot office unit on the second floor of an office property built in 2002. The interior includes five private offices along with several open areas that can support collaborative work or be reconfigured for additional private offices.
A generously sized break room is positioned along the north side of the property and features floor-to-ceiling windows. The suite is located at 85 E 8th Street in Holland, Michigan.
A generously sized break room is positioned along the north side of the property and features floor-to-ceiling windows. The suite is located at 85 E 8th Street in Holland, Michigan.
Key Highlights
- 5,107 SF second‑floor office unit
- Five private offices included
- Multiple open areas accommodate collaborative work or additional private offices
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
$56,261
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
3.22%
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%
$1,125,220
$1.1M
Cap Rate 7%
$803,729
$803.7K
Cap Rate 9%
$625,122
$625.1K
Market Conditions
NOI Build-Up for 5,107 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
$87.0K $17.04/SF
− Vacancy
−$12.0K −$2.35/SF
EGI
$75.0K $14.69/SF
− OpEx
−$18.8K −$3.67/SF
NOI
$56.3K $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%
$1,125,220
Cap Rate 7%
$803,729
Cap Rate 9%
$625,122
Alternative Uses
Best Use
Office B
$803.7K
$703.3K – $937.7K
NOI $56,261 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$63.51M
$55.57M – $74.09M
NOI $4,445,485 @ 7.0% cap · market cap 254.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,269
Businesses Nearby
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Fully finished workspace combines private offices, open areas, and a window-lined break room.
Where is this office units located?
The property is located at 85 E 8th St Unit 230 Holland, MI.
What is the asking price?
The asking price for this property is $1,745,110.
What are key features of this property?
This property features: 5,107 SF second‑floor office unit; Five private offices included; Multiple open areas accommodate collaborative work or additional private offices
