321 Settlers RdHolland, MI 49423

For Sale
$3,250,000

Prime location, 100% occupied, strong NOI.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional Class A office building, located at 321 Settlers Road in Holland, Michigan, presents a compelling investment opportunity. The property boasts 21,890 square feet across two stories within a single building on a 2.37-acre lot (APN: 70-16-28-477-015 & 016). Built in 1986 and zoned CMU, this multi-tenant property enjoys a prominent position along the US-31 corridor, offering excellent visibility and accessibility. Currently 100% occupied by three established tenants with a Net Lease (NNN) structure, the building generates a substantial Net Operating Income (NOI) of $238,000, resulting in a 7.32% cap rate. The asking price is $3,250,000, translating to a price per square foot of $148.47. Leases are in place until September 30, 2029, providing a remaining lease term of approximately 4.9 years. This investment offers a stable income stream with significant long-term potential in a thriving lakeshore community. The property is situated between 8th and 16th Streets on the east side of US-31. Further financial and lease details are available upon request.

Highlights

  • Class A office building, 21,890 square feet, Holland, MI.
  • Two-story building on a 2.37-acre lot (APN: 70-16-28-477-015 & 016).
  • Prominent US-31 location, excellent visibility and accessibility.
  • 100% occupied, three tenants, NNN leases.
  • $238,000 NOI, 7.32% cap rate, $3,250,000 asking price ($148.47/SF).
  • Leases extend to September 30, 2029 (approx. 4.9 years remaining).

Property Details for 321 Settlers Rd

Property type
Other office properties, Office properties
Square Feet
21,890 SF
Class
A
Year Built
1986
Buildings
1
Stories
2
Lot Size (sq. ft)
103,237 SF
Units
3

Location Insight

City
Holland
County
Ottawa
State
Michigan
Latitude
42.785428966671
Longitude
-86.080221509131
321 Settlers Rd, Holland, Michigan
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321 Settlers Rd
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