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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    249 Lakewood Blvd Holland, MI 49424-1903

    • Warehouses
    • 82,860 SF
    • 6.39 lot acres
    OFF-MARKET
    Last Sale
    Oct 22, 2021
    Value Estimations
    $2,495,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2297449
    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

    • Warehouses

    Property Details for 249 Lakewood Blvd

    Lot size
    6.39 lot acres
    Property size
    82,860 SF
    Zone code
    SEE MAP
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    70-16-19-276-025
    APU
    701619276025

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,516,000
      Market price range: $1.79M - $10.5M
      AI Estimate
      $2,472,000
      Market price range: $1.79M - $10.5M

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

    Location Insight

    • Map
    • Local Demand
    City
    Holland
    County
    Ottawa
    State
    Michigan
    Longitude
    -86.1192
    Latitude
    42.8069
    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
    $50,376
    $0.00
    $0.00
    $1,036,500
    -
    $0.00
    $0.00
    $2,073,000

    Comparable in this City

    • Value Estimation
      $2,400,000
      46,947 SF

      11431 Chicago Dr

      MINI-WAREHOUSE, STORAGE • 46,947 SF
      11431 Chicago Dr, Holland, MI 49424-9613
      View Details
    • Value Estimation
      $3,365,000
      51,840 SF

      500 Douglas Ave

      MINI-WAREHOUSE, STORAGE • 51,840 SF
      500 Douglas Ave, Holland, MI 49424-2733
      View Details
    • Value Estimation
      $1,680,000
      22,000 SF

      4551 Holland Ave

      MINI-WAREHOUSE, STORAGE • 22,000 SF
      4551 Holland Ave, Holland, MI 49424-9200
      View Details
    • Value Estimation
      $575,000
      4,998 SF

      260 Howard Ave, Unit 10

      MINI-WAREHOUSE, STORAGE • 4,998 SF
      260 Howard Ave, Holland, MI 49424-6518
      View Details
    • Value Estimation
      $575,000
      4,998 SF

      260 Howard Ave, Unit 9

      MINI-WAREHOUSE, STORAGE • 4,998 SF
      260 Howard Ave, Holland, MI 49424-6518
      View Details
    • Value Estimation
      $915,000
      16,975 SF

      11362 James St

      MINI-WAREHOUSE, STORAGE • 16,975 SF
      11362 James St, Holland, MI 49424-8627
      View Details

    Similar Nearby for Sale

    • $2,225,000
      8 SF

      Elite Flex Space/Toy Barn

      Unique flex space with high-end finishes and versatile functionality.
      425 Holland Ave, Holland, MI 49424
      View Details
    • $1,150,000
      10,380 SF

      Holland Commercial Building For Sale

      Centrally located commercial building with offices, docks, and overhead door.
      10841 Paw Paw Dr, Holland, MI 49424
      View Details
    • New
      $1,980,000
      15,000 SF

      Renovated Industrial Building with Expansion Potential

      Renovated industrial building with office and warehouse space on 2.69 acres.
      2336 112Th Ave, Holland, MI 49424
      View Details
    • New
      $150,000
      Pending

      Half-Acre Parcel with Barn

      Half-acre parcel with barn, potential for duplex development.
      657 Butternut Dr, Holland, MI 49424
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    • $1,549,000
      12,000 SF

      Holland Boat Storage Facility

      12,000 SF, Vacant, New Construction
      503 Douglas Ave, Holland, MI 49424
      View Details
    • $883,400
      25.24 Acres

      Prime Holland Industrial Land

      25 Acres, I-2 Zoning, Tax Abatement Possible
      4303 Hallacy Dr, Holland, MI 49424
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      457,400 SF

      Holland Industrial Manufacturing Facility

      Massive single-tenant facility; prime location.
      13467 Quincy St, Holland, MI 49424
      View Details
    • $3,200 /Mo
      3,240 SF

      Holland Retail/Warehouse Space For Rent

      Retail/warehouse space with high visibility and traffic count.
      238 120Th Ave, Holland, MI 49424
      View Details
    • $7 SF/Yr
      24,080 SF

      Holland Manufacturing/Warehouse Space Available

      8,000 SF manufacturing/warehouse space with overhead doors for lease.
      11699 Greenway Dr, Holland, MI 49424
      View Details
    • $14 SF/Yr
      1,500 SF

      Holland Retail/Warehouse Space For Rent

      1,500 SF retail/warehouse space in high-traffic area.
      154 E Lakewood Blvd, Holland, MI 49424
      View Details
    • $7 SF/Yr
      10,380 SF

      Holland Commercial Building For Lease

      Centrally located flex/industrial/office/warehouse space near Chicago Drive.
      10841 Paw Paw Dr, Holland, MI 49424
      View Details
    • $7 SF/Yr

      Clean Warehouse Space with Office

      8,000 SF warehouse with shop office and overhead doors.
      11699 Greenway Dr, Holland, MI 49424
      View Details
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    249 Lakewood Blvd
    Holland, MI 49424-1903
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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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