Liquor and Convenience
For Sale
$750,000
877 Washington Ave, Holland, MI 49423
Retail operation includes beverage, tobacco, lottery, and convenience merchandise in a visible Holland commercial location.
Property Size4,185 SF
Price / SF$179.21
Days on Market51
Property Features for 877 Washington Ave
General Information
Standard status
Active
Size
4,185 SF
Additional Details
Business Included
Yes
Building Details
Year Built
1958
Listing Agency:
New Michigan Realty LLC
Listed By:
Johny Thomas · License #6501433546
(702) 208-3341
Source:
Katie-k
Added: Sep 2
Changed: Oct 11
Last Checked: Oct 7 at 3:22PM
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 New Michigan Realty LLC
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Investment Insights
Based on property information with market context.
This 4,185-square-foot retail property contains an established liquor store operation serving the Holland market. The merchandise mix includes beer, wine, spirits, tobacco, lottery products, and convenience items, creating a broad convenience-oriented retail offering. The building dates to 1958 and includes additional office and storage space at the rear.
Located at 877 Washington Ave in Holland, Michigan, the property benefits from visibility along a commercial roadway and steady traffic described in the available property information. The rear office and storage area may provide an opportunity for separate rental use, subject to applicable requirements. Financial information is available to qualified buyers after execution of a confidentiality agreement.
Located at 877 Washington Ave in Holland, Michigan, the property benefits from visibility along a commercial roadway and steady traffic described in the available property information. The rear office and storage area may provide an opportunity for separate rental use, subject to applicable requirements. Financial information is available to qualified buyers after execution of a confidentiality agreement.
Key Highlights
- 4,185‑square‑foot retail property at 877 Washington Ave, Holland, MI 49423
- Liquor store operation with beer, wine, spirits, tobacco, lottery, and convenience merchandise
- Building constructed in 1958
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,547
Cap Rate
6.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$930,940
$930.9K
Cap Rate 7%
$664,957
$665.0K
Cap Rate 9%
$517,189
$517.2K
Market Conditions
NOI Build-Up for 4,185 SF
Gross rent
$64.8K $15.48/SF
− Vacancy
−$2.7K −$0.65/SF
EGI
$62.1K $14.83/SF
− OpEx
−$15.5K −$3.71/SF
NOI
$46.5K $11.12/SF
Area
Ottawa County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$930,940
Cap Rate 7%
$664,957
Cap Rate 9%
$517,189
Alternative Uses
Best Use
Specialty Retail
$665.0K
$581.8K – $775.8K
NOI $46,547 @ 7.0% cap · market cap 6.21%
Second Best
Retail
$620.6K
$543.1K – $724.1K
NOI $43,444 @ 7.0% cap · market cap 5.79%
Theoretical Best
Multifamily LT 5
$52.04M
$45.54M – $60.72M
NOI $3,642,913 @ 7.0% cap · market cap 485.72%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
590
Businesses Nearby
Under-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
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Family Fare Supermarket — 1185 Washington Ave, Holland, MI 49423
- La Consentida Supermarket — 676 Michigan Ave #1, Holland, MI 49423
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Retail operation includes beverage, tobacco, lottery, and convenience merchandise in a visible Holland commercial location.
Where is this grocery and convenience store located?
The property is located at 877 Washington Ave Holland, MI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 4,185‑square‑foot retail property at 877 Washington Ave, Holland, MI 49423; Liquor store operation with beer, wine, spirits, tobacco, lottery, and convenience merchandise; Building constructed in 1958
