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    2975 West Shore Dr Holland, MI 49424
    Property profile & analytics

    2975 West Shore Dr Holland, MI 49424

    View on Map
    • Outlet malls
    • 88,692 SF
    • 4.72 lot acres
    For Lease
    $17 SF/Yr
    View Listing →
    Versatile Commercial Space in Holland For Lease
    $17 SF/Yr
    6,500 SF

    Versatile Commercial Space in Holland

    6,500 sq ft commercial space in high-traffic Holland location.

    2975 West Shore Drive, Holland, MI 49424
    View Listing
    Property ID
    US43-1869735
    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

    • Girlfriends Fit Club / Gym & Fitness Center
    • Our Collected Home / Home Decor Store / Department Store
    • Art as a Lifestyle / Art Studio
    • Indigo Vibes Apothecary / (Bike/Boat/Book/etc) Store / Specialty Food Shop
    • Great Lake Transporters / Shipping Company / Freight Service

    Property Details for 2975 West Shore Dr

    Lot size
    4.72 lot acres
    Property size
    88,692 SF
    Zone code
    C-2
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    70-16-16-180-001
    APU
    701616180001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,196,000
      Market price range: $9.20M - $42.5M
      AI Estimate
      $9,196,000
      Market price range: $9.20M - $32.9M

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

    Location Insight

    • Map
    • Local Demand
    City
    Holland
    County
    Ottawa
    State
    Michigan
    Longitude
    -86.0911
    Latitude
    42.8224
    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
    $51,463
    $0.00
    $0.00
    $1,821,500
    -
    $0.00
    $0.00
    $3,643,000

    Comparable in this City

    • Value Estimation
      $4,770,000
      21,556 SF

      3571 Shr Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 21,556 SF
      3571 Shr Dr, Holland, MI 49424-9674
      View Details
    • Value Estimation
      $14,135,000
      105,023 SF

      3940 Shr Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 105,023 SF
      3940 Shr Dr, Holland, MI 49424-9608
      View Details
    • Value Estimation
      $8,810,000
      75,957 SF

      12288 Felch St

      WHOLESALE OUTLET, DISCOUNT STORE • 75,957 SF
      12288 Felch St, Holland, MI 49424-9676
      View Details
    • Value Estimation by Request
      23,500 SF

      12635 Felch St Ste, Unit 40

      WHOLESALE OUTLET, DISCOUNT STORE • 23,500 SF
      12635 Felch St Ste, Holland, MI 49424-8275
      View Details
    • Value Estimation
      $5,125,000
      29,633 SF

      2353 Park Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 29,633 SF
      2353 Park Dr, Holland, MI 49424-9599
      View Details
    • Value Estimation
      $1,125,000
      7,140 SF

      12948 Quincy St

      WHOLESALE OUTLET, DISCOUNT STORE • 7,140 SF
      12948 Quincy St, Holland, MI 49424-9262
      View Details

    Similar Nearby for Sale

    • $400,248
      80,280 SF

      Holland, MI Retail Investment Opportunity

      Two-tenant retail asset near US Highway 31 in Holland, MI.
      12386 Felch St, Holland, MI 49424
      View Details
    • $8,500,000
      50,401 SF

      Retail Center on 7.6 Acres

      Multi-tenant retail center in major retail corridor for sale.
      12659 Riley St, Holland, MI 49424
      View Details
    • $8,500,000
      50,401 SF

      Retail Center on High-Traffic Corner

      Multi-tenant retail center with high visibility and strong traffic counts.
      12659 Riley St, Holland, MI 49424
      View Details
    • Contact for pricing

      Railside Center Office/Retail Space

      Office/retail space in high-traffic Holland location.
      56 E Lakewood Blvd, Holland, MI 49424
      View Details
    • $850,000
      6,154 SF

      Retail Space on Chicago Drive

      Retail space available for sale in Holland, Michigan.
      11283 Chicago Dr, Holland, MI 49424
      View Details
    • $599,900
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      Holland Automotive Investment Opportunity

      6,000 SF commercial property in prime Holland location.
      2470 Van Ommen Dr, Holland, MI 49424
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      2,400 SF

      Holland Retail Space For Lease

      Commercial suites available in a newly remodeled Holland strip mall.
      840 Black River Dr, Holland, MI 49424
      View Details
    • $15 SF/Yr
      1,200 SF

      Holland Retail Space For Lease

      Commercial suites available in remodeled Adams Court Strip Mall.
      840 Black River Dr, Holland, MI 49424
      View Details
    • Contact for pricing

      Retail Spaces Available For Rent

      Retail spaces available, ranging from 935 to 5,000 SqFt.
      12330 James St, Holland, MI 49424
      View Details
    • Contact for pricing

      Retail Space at Felch Corner

      Excellent retail opportunity at the corner of Felch.
      12610 Felch St, Holland, MI 49424
      View Details
    • $17 SF/Yr
      1,150 SF

      Retail Space in Riley Plaza

      Retail space for lease in a busy Holland corridor.
      12659 Riley St, Holland, MI 49424
      View Details
    View Listing
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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.

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