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    12501 Greenly St Holland, MI 49424
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    12501 Greenly St Holland, MI 49424

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    • Commercial land
    For Sale
    $1,725,000
    View Listing →
    Prime Land Near US 31 For Sale
    $1,725,000
    20.65 Acres

    Prime Land Near US 31

    20.65 acres of commercial land with development potential.

    12501 Greenly St, Holland, MI 49424
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    Property ID
    US43-0832551
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 12501 Greenly St

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    20.65 acres, with approximately 15 acres of upland immediately East of US 31 on Greenly. Greenly was extended in 2023 as a result of a new Redwood apartment project. Municipal water and sewer in Greenly at the site. $100 million+ of new residential development in the immediate area opened in the last two years and more under construction. 4.5% population growth. Median area HH income of $76,087. New manufacturing plants in Holland, including LG energy. Commercial neighbors include Meijer, Target, Michael's, Dick's Sporting Goods, Best Buy and Lake Michigan Credit Union. New Harvest Health grocery store now open on corner of Greenly and US 31. Redwood residential development opened in 2024 immediately North and adjacent to this parcel. Future land use: part Commercial, part Medium Density Residential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Holland
    County
    Ottawa
    State
    Michigan
    Longitude
    -86.0909145
    Latitude
    42.8356162

    Comparable in this City

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      Commercial Lot in Developing Corridor

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      Prime Land Near US-31

      1.788 acres of commercial land with high visibility.
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      1.53 Acre Commercial Land

      1.53 acre lot near US-31, ready for development.
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      Holland Township Land Opportunity

      2.64 acre commercial land in Holland Township.
      VL-0 120Th Ave, Holland, MI 49424
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    Similar Nearby for Sale

    • $99,900
      2.00 Acres

      Prime Commercial Land Opportunity

      Two-acre commercial site with high visibility and accessibility.
      N 120Th Ave, Holland, MI 49424
      View Details
    • Contact for pricing

      Vacant Land Near Commercial Hub

      Seven acres of vacant land suitable for commercial development.
      Olive Commerce Dr, Holland, MI 49424
      View Details
    • $595,000
      2.00 Acres

      Commercial Lot in Developing Corridor

      2-acre commercial lot in Holland's rapidly developing Adams & 96th corridor.
      96Th Ave, Holland, MI 49424
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    • Contact for pricing

      Prime Land Near US-31

      1.788 acres of commercial land with high visibility.
      2556 Van Ommen Dr, Holland, MI 49424
      View Details
    • $315,000
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      1.53 Acre Commercial Land

      1.53 acre lot near US-31, ready for development.
      3/4 Union St, Holland, MI 49424
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    • $180,000
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      Holland Township Land Opportunity

      2.64 acre commercial land in Holland Township.
      VL-0 120Th Ave, Holland, MI 49424
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land Parcel in Holland, MI

      Land parcel with high visibility and access on US-31.
      12683 Greenly St, Holland, MI 49424
      View Details
    • Contact for pricing

      Retail Space in Riley Plaza

      Retail space for lease in a high-traffic retail corridor.
      12719 Riley St, Holland, MI 49424
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      Single Tenant Retail Space

      Retail space available for rent, 10,885 SqFt.
      11039 Watertower Ct, Holland, MI 49424
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    • $24 SF/Yr
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      Office Space in Holland, MI

      650 sq ft office space available for lease.
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    • $10 SF/Yr
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      Retail Building in High-Traffic Area

      6,500 SF retail building for lease in Holland, Michigan.
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    • $12 SF/Yr
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      Holland Retail Space For Lease

      Commercial suites available in a newly remodeled Holland strip mall.
      840 Black River Dr, Holland, MI 49424
      View Details
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    Holland, MI 49424
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    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
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