Finished Office Suites on Second
For Sale
$2,706,750
85 E 8th Street #230 250, Holland, MI 49423
Second-floor suites offer private offices, flexible open work areas, and a large break room with floor-to-ceiling windows.
Property Size8,344 SF
Price / SF$324.39
Days on Market108
Property Features for 85 E 8th Street #230 250
General Information
Standard status
Active
Size
8,344 SF
Property subtype
Commercial
Zoning
F-CDT
Taxes and HOA fees
Annual Taxes
$61,338
Building Details
Building Size
8,344 SF
Year Built
2002
Buildings
1
Stories
3
Units
2
Listing Agency:
Lakeshore Commercial Real Estate
(616) 394-4500
Listed By:
Jason DeWitt · License #6501331667
(616) 394-4500
Source:
Irishhillsfivestarhomes
Added: May 8
Changed: Aug 23
Last Checked: Aug 22 at 4:49AM
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 230/250 comprises an approximately 8,344 SF, finished second-floor office space. The interior currently includes five private offices and multiple open, flexible areas that can support coworking or collaborative use. A large break area overlooks the north side of the property and features floor-to-ceiling windows, creating a bright, visible space for shared use.
The combined suite layout can also support reconfiguration, including construction of additional private offices or use of the open areas for larger gatherings and presentations.
The combined suite layout can also support reconfiguration, including construction of additional private offices or use of the open areas for larger gatherings and presentations.
Key Highlights
- Suite 230/250 is a combined 2nd‑floor space totaling 8,344 SF
- Currently finished with 5 private offices plus multiple open flexible areas
- Open areas can be used for co‑working/collaborative space or converted to 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
$91,921
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
3.40%
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%
$1,838,420
$1.8M
Cap Rate 7%
$1,313,157
$1.3M
Cap Rate 9%
$1,021,344
$1.0M
Market Conditions
NOI Build-Up for 8,344 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
$142.2K $17.04/SF
− Vacancy
−$19.6K −$2.35/SF
EGI
$122.6K $14.69/SF
− OpEx
−$30.6K −$3.67/SF
NOI
$91.9K $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%
$1,838,420
Cap Rate 7%
$1,313,157
Cap Rate 9%
$1,021,344
Alternative Uses
Best Use
Office B
$1.31M
$1.15M – $1.53M
NOI $91,921 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$103.76M
$90.79M – $121.05M
NOI $7,263,193 @ 7.0% cap · market cap 268.34%
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 - Second-floor suites offer private offices, flexible open work areas, and a large break room with floor-to-ceiling windows.
Where is this office units located?
The property is located at 85 E 8th Street #230 250 Holland, MI.
What is the asking price?
The asking price for this property is $2,706,750.
What are key features of this property?
This property features: Suite 230/250 is a combined 2nd‑floor space totaling 8,344 SF; Currently finished with 5 private offices plus multiple open flexible areas; Open areas can be used for co‑working/collaborative space or converted to additional private offices
