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Property profile & analytics
OFF-MARKET Estimated value $695,000
Strip malls

1016 Washington Ave Holland, MI 49423-5204

5,425 SF 0.54 ac lot Built 1982
Entity Owned 5-yr Hold Absentee Owner Free & Clear
Property ID
US43-0572120
Property summary
AI-generated overview

This exceptional 1-story, Class B retail strip center, built in 1986, presents a unique investment opportunity. Located at 1016 Washington Ave, this property boasts a total of 180 parking spaces and sits on a generous 2.49-acre lot. The center currently features multiple tenants, including well-established businesses such as Biggby Coffee, O'Reilly Auto Parts, Jet's Pizza, Consumers Credit Union, Rite Aid, and D&W Grocery Store. Two immediately available suites totaling 5,425 square feet are ready for occupancy. One suite is a former restaurant, complete with existing equipment. Both suites are "white boxed," offering flexibility for tenant build-outs. The property enjoys a high-traffic corner location with significant residential density in the surrounding area. This prime retail space is ideal for a variety of businesses. The landlord is open to considering a division of the larger suite to accommodate smaller tenants. This is a rare opportunity to secure a prominent retail presence in a thriving commercial area. The property's strong tenant mix and high visibility make it an attractive investment for both established businesses and new ventures. Don't miss this chance to capitalize on this exceptional retail space.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1982
Total area 5,425 SF
Lot 0.54 ac (23,348 SF)
Zoning code C-2
APN 53-02-06-400-051
UPID US43-0572120
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$930k
Comparable Approach Comparable
by Request
Blend (final) Blend
$695k
Owner & transaction history
Holland Stewardship Properties LLC · 5 yrs held
Holland Stewardship Properties LLC
since 2021
Last sale
$649,000
1 recorded transaction
2021
Price N/A
Zoning & alternative use
C-2 · Holland, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores $850,000 +224.6%
Office building $715,000 +173.4%
Commercial (general) $670,000 +155.9%
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