115 Clover St Holland, MI 49423

Property Details for 115 Clover St

Lot size

8.34 lot acres

Property size

53,804 SF

Zone code

C-2

Property type

Office buildings

APN

70-16-28-276-043

APU

701628276043

Description

This exceptional Holland, Michigan commercial property, situated on eight acres, offers 54,400 square feet of versatile office space across two, three-story buildings. The property, built in 1980 and extensively renovated in 2012, boasts a Class A designation and features a mix of creative, executive, and traditional office layouts. Currently 75% occupied with five tenants under a modified net lease with 10.1 years remaining (commencing January 1, 2024, and expiring December 31, 2034), the property generates a strong NOI of $430,092, representing an 8.04% cap rate. The asking price is $5,350,000 ($98.35/sq ft). Amenities include 164 parking spaces, ample green space, and a prime location on US-31, a block from Chicago Drive, providing easy access to Grand Rapids and surrounding areas. The property's flexible zoning allows for various uses, including retail, medical, fitness, and daycare. Each floor offers designated break rooms and restrooms. Interior features include open concepts, exposed brick, floor-to-ceiling windows, and conference rooms accommodating 50-75 people. The current owner is open to dividing the property into two separate parcels, each with its own building, presenting an attractive opportunity for smaller investors. Annual rent bumps are set at 2%.