Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    340 120th Ave Holland, MI 49424-2160

    • Office buildings
    • 5,967 SF
    • 1.24 lot acres
    OFF-MARKET
    Value Estimations
    $785,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2442149
    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

    • Lenz-Balder Insurance / Insurance Agency

    Property Details for 340 120th Ave

    Year built
    1998
    Lot size
    1.24 lot acres
    Property size
    5,967 SF
    Zone code
    OS
    Property type
    Office buildings
    APN
    70-16-21-200-069
    APU
    701621200069

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $797,000
      Market price range: $559k - $1.26M
      AI Estimate
      $770,000
      Market price range: $351k - $1.15M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $815,000
      Current use
      RETAIL STORES
      $1,165,000
      Change: +43% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $690,000
      Change: -15% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Holland
    County
    Ottawa
    State
    Michigan
    Longitude
    -86.0784
    Latitude
    42.8074
    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
    $17,019
    $0.00
    $0.00
    $338,100
    -
    $0.00
    $0.00
    $676,200

    Comparable in this City

    • Value Estimation
      $4,775,000
      60,094 SF

      12285 Felch St

      OFFICE BUILDING • 60,094 SF
      12285 Felch St, Holland, MI 49424-9676
      View Details
    • Value Estimation by Request
      1,134 SF

      400 136th Ave, Unit 240

      OFFICE BUILDING • 1,134 SF
      400 136th Ave, Holland, MI 49424-2923
      View Details
    • Value Estimation by Request
      1,134 SF

      400 136th Ave, Unit 320

      OFFICE BUILDING • 1,134 SF
      400 136th Ave, Holland, MI 49424-2923
      View Details
    • Value Estimation by Request
      1,134 SF

      400 136th Ave, Unit 610

      OFFICE BUILDING • 1,134 SF
      400 136th Ave, Holland, MI 49424-2923
      View Details
    • Value Estimation
      $1,075,000
      14,072 SF

      165 Douglas Ave

      OFFICE BUILDING • 14,072 SF
      165 Douglas Ave, Holland, MI 49424-6584
      View Details
    • Value Estimation by Request
      3,709 SF

      301 Douglas Ave

      OFFICE BUILDING • 3,709 SF
      301 Douglas Ave, Holland, MI 49424-6571
      View Details

    Similar Nearby for Sale

    • $115,000
      555 SF

      Commercial Office Building Investment Opportunity

      Well-maintained office building in desirable location with modern finishes.
      60 E Lakewood Blvd, 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
    • $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
    • 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
    • $1,980,000
      Pending

      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
    • $525,000
      3,000 SF

      Commercial Condo with Office Space

      Commercial condo with office and garage space in Holland, MI.
      11322 E Lakewood Blvd, Holland, MI 49424
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Remodeled Commercial Suites For Lease

      Commercial suites available for lease in Adams Court Strip Mall.
      840 N Black River Dr, Holland, MI 49424
      View Details
    • $18 SF/Yr
      Pending

      Office Space in Park Township

      Office space for lease with reception, offices, and private bath.
      697 Ottawa Beach Rd, Holland, MI 49424
      View Details
    • $24 SF/Yr
      650 SF

      Office Space in Holland, MI

      650 sq ft office space available for lease.
      1627 W Lakewood Blvd, Holland, MI 49424
      View Details
    • $13 SF/Yr
      3,000 SF

      Holland Commercial Condo with Office

      Commercial condo with office, garage space, and C-2 zoning.
      11322 E Lakewood Blvd, Holland, MI 49424
      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.
    340 120th Ave
    Holland, MI 49424-2160
    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.
    Sign Up Successful!
    You now have access to more from Realmo!