Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1061 Washington Ave Holland, MI 49423-5216

    • Medical offices
    • 3,489 SF
    • 1.00 lot acres
    OFF-MARKET
    Value Estimations
    $545,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0492026
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Dr. Brenda L. Schloff, MD / Family Practice Physician
    • Macatawa Family Medicine - Dr. Shaena Freeman / Family Practice Physician

    Property Details for 1061 Washington Ave

    Year built
    1980
    Lot size
    1.00 lot acres
    Property size
    3,489 SF
    Zone code
    C-2
    Property type
    Medical offices
    Property subtype
    Medical space
    APN
    53-02-05-300-074
    APU
    530205300074

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $544,000
      Market price range: $288k - $546k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $420,000
      Current use
      RETAIL STORES
      $545,000
      Change: +30% Conversion: Difficult
      OFFICE BUILDING
      $460,000
      Change: +9% Conversion: Easy
      COMMERCIAL (GENERAL)
      $430,000
      Change: +2% Conversion: Easy
      AUTO REPAIR, GARAGE
      $410,000
      Change: -3% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Holland
    County
    Allegan
    State
    Michigan
    Longitude
    -86.1157
    Latitude
    42.7594
    CBSA code
    26090
    CBSA name
    HOLLAND, MI MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $0.00
    $0.00
    $295,414
    -
    $0.00
    $0.00
    $590,828

    Comparable in this City

    • Value Estimation by Request
      9,856 SF

      904 Washington Ave Ste, Unit 200

      MEDICAL BUILDING • 9,856 SF
      904 Washington Ave Ste, Holland, MI 49423-7724
      View Details
    • Value Estimation by Request
      9,833 SF

      926 Washington Ave Ste, Unit 100

      MEDICAL BUILDING • 9,833 SF
      926 Washington Ave Ste, Holland, MI 49423-7725
      View Details
    • Value Estimation by Request
      3,774 SF

      844 Washington Ave Ste, Unit 400

      DENTAL BUILDING • 3,774 SF
      844 Washington Ave Ste, Holland, MI 49423-7137
      View Details
    • Value Estimation by Request
      9,414 SF

      649 Hastings Ave

      MEDICAL BUILDING • 9,414 SF
      649 Hastings Ave, Holland, MI 49423-5427
      View Details
    • Value Estimation
      $1,060,000
      8,704 SF

      926 Washington Ave

      DENTAL BUILDING • 8,704 SF
      926 Washington Ave, Holland, MI 49423-7725
      View Details
    • Value Estimation
      $630,000
      5,198 SF

      948 Washington Ave

      DENTAL BUILDING • 5,198 SF
      948 Washington Ave, Holland, MI 49423-5205
      View Details

    Similar Nearby for Sale

    • $2,706,750
      8,344 SF

      Holland Office Space For Sale

      Second floor office space with flexible layout and collaborative areas.
      85 250, Holland, MI 49423
      View Details
    • $2,525,950
      8,343 SF

      Holland Office Space with Flexibility

      Adaptable office suites with potential for custom build-out.
      85 230, Holland, MI 49423
      View Details
    • $910,000

      Office Unit with Open Layout

      Finished office unit featuring flexible open space and city views.
      85 E 8Th St, Holland, MI 49423
      View Details
    • $2,706,750
      8,343 SF

      Downtown Holland Office Suites

      Prime location, newly renovated, owner/user.
      85 8Th St, Holland, MI 49423
      View Details
    • $799,900
      2 SF

      Iconic Baker Lofts Office Suite

      Unique office suite in Holland's vibrant Eastcore community.
      217 Holland Ave, Holland, MI 49423
      View Details
    • $1,745,110
      5,107 SF

      Finished Office Suite in Holland

      5,107 SF office suite with private offices and open areas.
      85 E 8Th St, Holland, MI 49423
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      2,400 SF

      Holland, MI Office Space

      Office space for lease, ideal for medical or general use.
      577 Michigan Ave, Holland, MI 49423
      View Details
    • $26 SF/Yr
      2,976 SF

      Downtown Holland Class A Office

      Class A office space in downtown Holland with parking.
      151 Central Ave, Holland, MI 49423
      View Details
    • $15 SF/Yr
      1,220 SF

      Office Suite on Century Lane

      Office suite for lease in Holland, convenient location, 1220 SF.
      499 Century Ln, Holland, MI 49423
      View Details
    • $5,900,000
      8,700 SF

      Renovated Office Space For Rent

      Furnished office space with private offices and conference room.
      115 Clover St, Holland, MI 49423
      View Details
    • New
      $23 SF/Yr
      8,344 SF

      Holland Office Space For Rent

      8,344 SF office space with flexible co-working areas available.
      85 250, Holland, MI 49423
      View Details
    • New
      $21 SF/Yr
      8,343 SF

      Holland Office Space For Rent

      Office space available in Holland, featuring flexible co-working areas.
      85 230, Holland, MI 49423
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1061 Washington Ave
    Holland, MI 49423-5216
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.