Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    248 Riv Ave Holland, MI 49423-3201

    • Theaters & concert halls
    • 4,446 SF
    • 0.14 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2415257
    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

    • Park Theatre / Non-Profit Organization / Comedy Club

    Property Details for 248 Riv Ave

    Year built
    1887
    Lot size
    0.14 lot acres
    Property size
    4,446 SF
    Zone code
    C-3
    Property type
    Theaters & concert halls
    APN
    70-16-29-330-026
    APU
    701629330026

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Holland
    County
    Ottawa
    State
    Michigan
    Longitude
    -86.1094
    Latitude
    42.7882
    CBSA code
    24340
    CBSA name
    GRAND RAPIDS-WYOMING, MI METROPOLITAN 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
    2022
    $1,710
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2,884 SF

      669 Harrington Ave

      AUDITORIUM • 2,884 SF
      669 Harrington Ave, Holland, MI 49423-6711
      View Details
    • Value Estimation by Request
      5,962 SF

      86 8th St

      THEATER (MOVIE) • 5,962 SF
      86 8th St, Holland, MI 49423-3518
      View Details
    • Value Estimation by Request
      49,107 SF

      150 8th St

      AUDITORIUM • 49,107 SF
      150 8th St, Holland, MI 49423-3106
      View Details
    • Value Estimation
      $3,135,000
      20,825 SF

      500 Waverly Rd

      THEATER (MOVIE) • 20,825 SF
      500 Waverly Rd, Holland, MI 49423-9126
      View Details
    • Value Estimation by Request
      42,831 SF

      84 8th St

      THEATER (MOVIE) • 42,831 SF
      84 8th St, Holland, MI 49423-3104
      View Details
    • Value Estimation by Request
      3,998 SF

      50 9th St

      THEATER (MOVIE) • 3,998 SF
      50 9th St, Holland, MI 49423-3112
      View Details

    Similar Nearby for Sale

    • $1,105,920
      5,760 SF

      Holland Industrial Storage Condos

      Brand new, 3-unit storage complex near Lake Macatawa.
      467 Ottawa Ave, Holland, MI 49423
      View Details
    • $393,600
      1,920 SF

      Holland Industrial Condo - $393,600

      Brand new storage condo near Lake Macatawa.
      467 Ottawa Ave, Holland, MI 49423
      View Details
    • $210,000

      Updated Condo with Private Garage

      Updated condo near town with modern amenities and private garage.
      300 Farington Blvd, Holland, MI 49423
      View Details
    • $230,000
      997 SF

      Holland City Condo For Sale

      Condo in Holland City with two bedrooms and one bath.
      94 Old Mill Dr, Holland, MI 49423
      View Details
    • $1,845,000

      Holland Commercial Land on US-31

      5.30 acre commercial land parcel at signaled intersection.
      1033 Lincoln Ave, Holland, MI 49423
      View Details
    • $284,000

      Holland Townhouse in Quarterline Crossing

      Two-bedroom, two-bath townhouse near downtown Holland and Hope College.
      302 Northeast Xing, Holland, MI 49423
      View Details

    Similar Nearby for Lease

    • $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
    • $3,000,000
      6,100 SF

      Turnkey Restaurant on US-31

      Turnkey restaurant or redevelopment opportunity in Holland on US-31.
      633 E 24Th St, 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
    • $2,900,000
      11,400 SF

      Office Building on Clover Street

      Office building for sale or lease with flexible space.
      121 Clover St, Holland, MI 49423
      View Details
    • $24 SF/Yr
      2,000 SF

      Retail Space in Holland, MI

      Retail space for lease in prime Holland location.
      717 E 24Th St, 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.
    248 Riv Ave
    Holland, MI 49423-3201
    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.