Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    494 32nd St Holland, MI 49423-5364
    Back to Search
    Property profile & analytics

    494 32nd St Holland, MI 49423-5364

    View on Map
    • Grocery and convenience stores
    • 1,196 SF
    • 0.35 lot acres
    Off-Market
    Last Sale May 12, 2021
    Property ID
    US43-2383315
    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

    • Rai Phillips 66 / Gas Station
    • VALUEMART Food Center / Grocery & Convenience Store
    • Value Mart Gas Station / Gas Station
    • Bitcoin Depot | Bitcoin ATM / Crypto Atm / Atm

    Property Details for 494 32nd St

    Year built
    1967
    Lot size
    0.35 lot acres
    Property size
    1,196 SF
    Property type
    Grocery and convenience stores
    APN
    53-02-04-200-002
    APU
    530204200002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Holland
    County
    Allegan
    State
    Michigan
    Longitude
    -86.0851
    Latitude
    42.7684
    CBSA code
    26090
    CBSA name
    HOLLAND, MI MICROPOLITAN 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
    2023
    $0.00
    $0.00
    $0.00
    $150,789
    -
    $0.00
    $0.00
    $301,578

    Comparable in this City

    • Value Estimation by Request
      2,640 SF

      4 16th St

      CONVENIENCE STORE • 2,640 SF
      4 16th St, Holland, MI 49423-3357
      View Details
    • Value Estimation by Request
      1,305 SF

      61 24th St

      CONVENIENCE STORE • 1,305 SF
      61 24th St, Holland, MI 49423-4885
      View Details
    • Value Estimation by Request
      4,901 SF

      405 Columbia Ave

      GROCERY, SUPERMARKET • 4,901 SF
      405 Columbia Ave, Holland, MI 49423-4291
      View Details
    • Value Estimation by Request
      9,810 SF

      809 Washington Ave

      CONVENIENCE STORE • 9,810 SF
      809 Washington Ave, Holland, MI 49423-7133
      View Details
    • Value Estimation by Request
      3,840 SF

      363 Riv Ave

      CONVENIENCE STORE • 3,840 SF
      363 Riv Ave, Holland, MI 49423-3354
      View Details
    • Value Estimation by Request
      4,185 SF

      877 Washington Ave

      CONVENIENCE STORE • 4,185 SF
      877 Washington Ave, Holland, MI 49423-5229
      View Details

    Similar Nearby for Sale

    • $4,800,000
      Pending

      Downtown Holland Commercial Space Available

      Versatile commercial space in downtown Holland with multiple loading docks.
      147 E 6Th St, Holland, MI 49423
      View Details
    • $195,900
      Pending

      Versatile Commercial Space in Holland

      Shell space with customization potential in Holland, Michigan.
      148 E 32Nd St, Holland, MI 49423
      View Details
    • Contact for pricing
      2,991 SF

      Wendy's Restaurant For Sale

      Wendy's restaurant in Holland, MI, subject to a NNN lease.
      250 North River Ave, Holland, MI 49423
      View Details
    • $499,000
      3,346 SF

      Mixed-Use Property Near Downtown Holland

      3,346 SF mixed-use property with retail and residential spaces.
      575 College Ave, Holland, MI 49423
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      1,485 SF

      Holland, MI Office/Retail Space

      1,485 SF open office/retail space in Clover Center.
      513 E 8Th St, Holland, MI 49423
      View Details
    • $6 SF/Yr
      Pending

      Holland Retail and Warehouse Space

      Retail and warehouse space in thriving Holland retail district.
      1145 S Washington Ave, Holland, MI 49423
      View Details
    • $24 SF/Yr
      1,715 SF

      Retail Space in Holland, MI

      Retail space for lease in prime Holland location.
      717 E 24Th St, Holland, MI 49423
      View Details
    • $16 SF/Yr
      2,474 SF

      Downtown Holland Retail/Office Space

      Retail/office space in downtown Holland with private parking.
      224 S River Ave, Holland, MI 49423
      View Details
    • $13 SF/Yr
      7,200 SF

      Holland Retail or Office Space

      Retail or office space in a convenient Holland location.
      1103 Washington Ave, Holland, MI 49423
      View Details
    • $24 SF/Yr
      1,285 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.
    494 32nd St
    Holland, MI 49423-5364
    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

    Thank You for Inquiry
    494 32nd St, Holland, MI, 49423
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!