Grand Haven Office Building For
For Sale
Contact for pricing
17034 Robbins Rd, Grand Haven, MI 49417
3,010 SF office building near US-31 in Grand Haven.
Property Size3,010 SF
Lot Size0.75 Acres
Price / SF$215.95
Days on Market681
Property Features for 17034 Robbins Rd
General Information
Standard status
Active
Size
3,010 SF
Class
B
Total Parking Spaces
25
Lot size
0.75 Acres
Property subtype
Office
Zoning
C-1, Neighborhood Commercial District
Investment Type
Owner/User
Building Details
Year Built
1998
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Advantage Commercial Real Estate
(616) 774-3500
Listed By:
Gary Albrecht · License #MI 6501370145
Source:
Crexi
Added: Oct 9, 2024
Changed: Aug 15
Last Checked: Aug 18 at 6:06PM
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 Advantage Commercial Real Estate
Investment Insights
Based on property information with market context.
Located at 17034 Robbins Road in Grand Haven, this 3,010 square foot office building is situated on a 0.75-acre lot. The building is conveniently located less than half a mile from US-31, within a well-known office, retail, and medical corridor in the Tri-Cities area. Originally built in 1998 as a bank branch with drive-through teller service, the property was later converted into an office building. Currently, Edward Jones occupies 1,200 square feet of the building and has 5 years remaining on their lease term. The property is ideal for an owner-user seeking to occupy 1,800 square feet.
Key Highlights
- Ideal for owner‑user wanting 1,800 SF to occupy.
- Conveniently located less than ½ mile from US‑31 in a popular office, retail, and medical corridor.
- Existing tenant (Edward Jones) occupies 1,200 square feet with 5 years remaining on their term, providing immediate income.
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
$33,159
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
5.10%
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%
$663,180
$663.2K
Cap Rate 7%
$473,700
$473.7K
Cap Rate 9%
$368,433
$368.4K
Market Conditions
NOI Build-Up for 3,010 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
$51.3K $17.04/SF
− Vacancy
−$7.1K −$2.35/SF
EGI
$44.2K $14.69/SF
− OpEx
−$11.1K −$3.67/SF
NOI
$33.2K $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%
$663,180
Cap Rate 7%
$473,700
Cap Rate 9%
$368,433
Alternative Uses
Best Use
Office B
$473.7K
$414.5K – $552.7K
NOI $33,159 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$37.43M
$32.75M – $43.67M
NOI $2,620,112 @ 7.0% cap · market cap 403.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
627
Businesses Nearby
Explore this area
Business Placement
Demographics for 49417, MI
32,406
Population
14,709
Households
2.2
Avg Household Size
43
Median Age
38%
College-Educated
95%
High-School Grad
46.9 sq mi
ZIP Area
691
Density / Sq Mi
$84,476
Median Household Income
$45,392
Median Earnings
$1,101
Median Rent
$287,800
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 building - 3,010 SF office building near US-31 in Grand Haven.
Where is this office building located?
The property is located at 17034 Robbins Rd Grand Haven, MI.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Ideal for owner‑user wanting 1,800 SF to occupy.; Conveniently located less than ½ mile from US‑31 in a popular office, retail, and medical corridor.; Existing tenant (Edward Jones) occupies 1,200 square feet with 5 years remaining on their term, providing immediate income.
