23 James St Holland, MI 49424-1821

Property Details for 23 James St

Lot size

7.63 lot acres

Property size

32,875 SF

Zone code

I-1

Property type

Warehouses

Property subtype

Self storage facilities

APN

70-16-17-300-067

APU

701617300067

Description

This exceptional self-storage portfolio comprises two properties located in Holland, Michigan, totaling 128,315 net rentable square feet across 17 buildings. The properties, situated on 9.74 acres, boast 476 units with 12-foot ceilings. Recently completed construction added 41,600 square feet of new space, featuring insulated facilities and in-floor heat. Both properties are fully operational and actively leasing, targeting stabilization within one year. The portfolio benefits from a strong pro-forma NOI of $835,000 and a 6.25% cap rate. The asking price is $13,360,000, translating to $104.12 per square foot. Original construction dates back to 2018, with all buildings completed by the end of Q2 2024. The properties are professionally maintained and constantly monitored, ensuring optimal performance. The zoning is I-1, and the properties are offered for sale by owner. This represents a compelling investment opportunity in a thriving market. The properties are located at 23 James St., Holland, MI 49424 (Ottawa County) and 1991 Lincoln Rd., Holland, MI 49423 (Allegan County). APN numbers are 70-16-17-300-059 and 70-16-17-300-067. The lease type is modified, and the tenancy is multi.