New search
Property profile & analytics
OFF-MARKET
Estimated value
$4,810,000
Warehouses
1187 Central Ave, Holland, MI 49423-5266
Entity Owned
16-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-2309906
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1978
Total area
73,573 SF
Lot
4.95 ac (215,622 SF)
Zoning code
C-2
APN
53-02-05-400-027
UPID
US43-2309906
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
Current use
Occupant on record · Public records
-
Cross Creek Self Storage Storage Facility
-
Extra Pro Paint Painting Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.91M
Blend (final)
Blend
$4.81M
Owner & transaction history
Great Lakes Self Storage 2 LLC · 16 yrs held
Great Lakes Self Storage 2 LLC
since 2010
1 recorded transaction
Zoning & alternative use
C-2 · Holland, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$8.0M
+31.2%
Industrial (general)
$7.2M
+17.4%
Office building
$7.2M
+17.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Holland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Holland submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$6,110,000
Current use
RESTAURANT
$8,015,000
Change: +31% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$7,170,000
Change: +17% · Conversion: Easy
OFFICE BUILDING
$7,150,000
Change: +17% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,295,000
Change: +3% · Conversion: Easy
Blend value · Realmo final
$4.81M
Range $4.33M – $5.29M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$65 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Assessed value
$2,167,123
Assessed 2024
Previous assessed
$2,045,400
+6.0% YoY
Total market value
$4,334,246
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1978
Heating
FORCED AIR
Buildings
10
Stories
1
Total area
73,573 SF
Lot
4.95 ac (215,622 SF)
Zoning code
C-2
APN
53-02-05-400-027
UPID
US43-2309906
Jurisdiction
ALLEGAN
Zoning & alternative use
C-2 · Holland, MI
Zoning C-2 · permitted uses
C-2 · Holland, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Holland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$6.1M
RESTAURANT
Est. value
$8.0M
INDUSTRIAL (GENERAL)
Est. value
$7.2M
OFFICE BUILDING
Est. value
$7.2M
AUTO REPAIR, GARAGE
Est. value
$6.3M
WAREHOUSE, STORAGE Current
RESTAURANT
INDUSTRIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1978
Heating
FORCED AIR
Stories
1
Buildings
10
Lot
4.95 ac
Current owner
From public records · entity-resolved
Great Lakes Self Storage 2 LLC
Entity
Mailing address
4155 S 9TH ST, KALAMAZOO, MI 49009-8120
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 5, 2010
$870,000
Great Lakes Self Storage 2 LLC
Sovran Acquisition Limited Partners
Other
$2,040,000 · Keystone Community Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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