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Property profile & analytics
OFF-MARKET
Estimated value
$22,125,000
Flex space
545 32nd St Holland, MI 49423-5411
Entity Owned
4-yr Hold
Free & Clear
Property ID
US43-2417324
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2013
Total area
118,137 SF
Lot
9.96 ac (434,075 SF)
Zoning code
I-1
APN
70-16-33-400-009
UPID
US43-2417324
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Brooks Beverage Management Inc. Big Box & Wholesale Store
-
Dr Pepper Snapple Group Big Box & Wholesale Store Distribution Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$26.82M
Comparable Approach
Comparable
$15.04M
Blend (final)
Blend
$22.13M
Owner & transaction history
Veyron Kdp Us Leasing LLC · 4 yrs held
Veyron Kdp Us Leasing LLC
since 2022
Last sale
$21.1M
1 recorded transaction
Zoning & alternative use
I-1 · Holland, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$23.1M
+100.6%
Office building
$16.1M
+40.1%
Commercial (general)
$15.4M
+33.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Holland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Holland submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$26,665,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$29,055,000
6.5%
$26,820,000
7%
$24,905,000
Alternative Use
Use
Estimation
RETAIL STORES
$23,095,000
Change: +101% · Conversion: Moderate
OFFICE BUILDING
$16,130,000
Change: +40% · Conversion: Difficult
COMMERCIAL (GENERAL)
$15,355,000
Change: +33% · Conversion: Difficult
Blend value · Realmo final
$22.13M
Range $19.91M – $24.34M · ±10% · vs last sale $21.05M (Jan 13 2022)
Last sale anchor
$21.05M
Jan 13 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$187 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$231,309
Tax year 2022
Assessed value
$4,552,700
Assessed 2023
Previous assessed
$3,871,900
+17.6% YoY
Effective rate
5.08%
On assessed value
Total market value
$9,105,400
Applied tax rate
65.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
2013
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
118,137 SF
Lot
9.96 ac (434,075 SF)
Zoning code
I-1
APN
70-16-33-400-009
UPID
US43-2417324
Jurisdiction
OTTAWA
Zoning & alternative use
I-1 · Holland, MIZoning I-1 · permitted uses
I-1 · Holland, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$23.1M
OFFICE BUILDING
Est. value
$16.1M
COMMERCIAL (GENERAL)
Est. value
$15.4M
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2013
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
9.96 ac
Current owner
From public records · entity-resolved
Veyron Kdp Us Leasing LLC
Entity
Free & Clear · 4 yrs held
Mailing address
437 MADISON AVE FL 34TH, NEW YORK, NY 10022-7001
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 13, 2022
$21,052,138
Veyron Kdp Us Leasing LLC
American Bottling Company
Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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