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Property profile & analytics
OFF-MARKET
Estimated value
$1,940,000
Warehouses
23 James St Holland, MI 49424-1821
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-4276221
Property summary
AI-generated overview
This exceptional self-storage portfolio comprises two properties located in Holland, Michigan, totaling 128,315 net rentable square feet across 17 buildings. The properties, situated on 9.74 acres, boast 476 units with 12-foot ceilings. Recently completed construction added 41,600 square feet of new space, featuring insulated facilities and in-floor heat. Both properties are fully operational and actively leasing, targeting stabilization within one year. The portfolio benefits from a strong pro-forma NOI of $835,000 and a 6.25% cap rate. The asking price is $13,360,000, translating to $104.12 per square foot. Original construction dates back to 2018, with all buildings completed by the end of Q2 2024. The properties are professionally maintained and constantly monitored, ensuring optimal performance. The zoning is I-1, and the properties are offered for sale by owner. This represents a compelling investment opportunity in a thriving market. The properties are located at 23 James St., Holland, MI 49424 (Ottawa County) and 1991 Lincoln Rd., Holland, MI 49423 (Allegan County). APN numbers are 70-16-17-300-059 and 70-16-17-300-067. The lease type is modified, and the tenancy is multi.
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Total area
32,875 SF
Lot
7.63 ac (332,363 SF)
Zoning code
I-1
APN
70-16-17-300-067
UPID
US43-4276221
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
-
Lakeshore Janitorial Services LLC General Contractor
-
Tulip City Self Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.96M
Blend (final)
Blend
$1.94M
Owner & transaction history
John F Donelly Drive LLC · 4 yrs held
John F Donelly Drive LLC
since 2022
1 recorded transaction
Zoning & alternative use
I-1 · Holland, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$3.2M
+17.4%
Auto repair, garage
$2.8M
+3.1%
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
$2,730,000
Current use
INDUSTRIAL (GENERAL)
$3,205,000
Change: +17% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,815,000
Change: +3% · Conversion: Easy
Blend value · Realmo final
$1.94M
Range $1.75M – $2.13M · ±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
$59 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$38,687
Tax year 2022
Assessed value
$806,000
Assessed 2023
Previous assessed
$800,500
+0.7% YoY
Effective rate
4.80%
On assessed value
Total market value
$1,612,000
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
Heating
FORCED AIR
Buildings
5
Stories
1
Total area
32,875 SF
Lot
7.63 ac (332,363 SF)
Zoning code
I-1
APN
70-16-17-300-067
UPID
US43-4276221
Jurisdiction
OTTAWA
Zoning & alternative use
I-1 · Holland, MI
Zoning I-1 · permitted uses
I-1 · 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
$2.7M
INDUSTRIAL (GENERAL)
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$2.8M
WAREHOUSE, STORAGE Current
INDUSTRIAL (GENERAL)
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
Heating
FORCED AIR
Stories
1
Buildings
5
Lot
7.63 ac
Current owner
From public records · entity-resolved
John F Donelly Drive LLC
Entity
Mailing address
135 ELBERDENE ST, HOLLAND, MI 49424-1807
Ownership since
2022
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
Apr 27, 2022
—
John F Donelly Drive LLC
Tulip City Self Storage LLC
Warranty Deed
$2,136,778 · Lake Michigan Cu
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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