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    575 College Ave Holland, MI 49423
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    575 College Ave, Holland, MI 49423

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    • Retail residential properties
    • 3,346 SF
    • 0.16 lot acres
    For Sale
    $499,000
    View Listing →
    Mixed-Use Property Near Downtown Holland For Sale
    $499,000
    3,346 SF

    Mixed-Use Property Near Downtown Holland

    3,346 SF mixed-use property with retail and residential spaces.

    575 College Avenue, Holland, MI 49423
    View Listing
    Property ID
    US43-2294625
    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

    • Retail residential properties

    Property Details for 575 College Ave

    Year built
    1912
    Lot size
    0.16 lot acres
    Zone code
    C-1
    Property type
    Retail residential properties
    APN
    70-16-32-260-025
    APU
    701632260025

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 28, 2025 — David L Witt And Shirley C Witt Rlt Dean Witt Deed —
    May 26, 2016 — Rochelle Holmes Shirley Witt Land Contract —

    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
    Ottawa
    State
    Michigan
    Longitude
    -86.1039
    Latitude
    42.776
    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
    $5,893
    $0.00
    $0.00
    $111,900
    -
    $0.00
    $0.00
    $223,800

    Comparable in this City

    • Value Estimation by Request
      0.24 Acres

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      407 Central Ave, Holland, MI 49423-4162
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      2,463 SF

      24 8th St

      STORES & APARTMENTS
      24 8th St, Holland, MI 49423-3502
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    • Value Estimation
      $815,000
      8,615 SF

      246 Riv Ave Ste, Unit 182

      STORES & APARTMENTS
      246 Riv Ave Ste, Holland, MI 49423-3253
      View Details
    • Value Estimation by Request
      3,648 SF

      154 15th St

      STORES & APARTMENTS
      154 15th St, Holland, MI 49423-3638
      View Details
    • Value Estimation
      $1,900,000
      15,495 SF

      60 8th St

      STORES & APARTMENTS
      60 8th St, Holland, MI 49423-3563
      View Details
    • Value Estimation
      $890,000
      9,612 SF

      35 8th St

      STORES & APARTMENTS
      35 8th St, Holland, MI 49423-3102
      View Details

    Similar Nearby for Sale

    • $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
    • Contact for pricing
      Pending

      Historic Holland Mixed-Use Property

      Renovated mixed-use property in downtown Holland near Lake Macatawa.
      581 Ottawa Ave, Holland, MI 49423
      View Details
    • $750,000
      Pending

      Holland Mixed-Use Development Opportunity

      3.15 acres approved for mixed-use retail/residential development.
      421 E 32Nd St, Holland, MI 49423
      View Details
    • Contact for pricing
      3,000 SF

      Functional Flex Space Unit

      3,000 SF flex unit with office and warehouse space.
      4269 Lincoln Rd, Holland, MI 49423
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr

      Renovated Commercial Space For Lease

      Professionally renovated commercial space with modern finishes and excellent accessibility.
      983 Lincoln Ave, Holland, MI 49423
      View Details
    • $28 SF/Yr
      5,250 SF

      Downtown Holland Office Space Available

      Three-story office building with multiple lease options in Holland, MI.
      171 College Ave, Holland, MI 49423
      View Details
    • $17 SF/Yr
      6,641 SF

      Holland Office Space For Rent

      High-profile office building with suites available for lease.
      601 Michigan 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
    • $20 SF/Yr
      3,237 SF

      Downtown Holland Office Space Available

      3,237 SF office suite with kitchenette and conference room.
      85 E 8Th St, Holland, MI 49423
      View Details
    View Listing
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    Holland, MI 49423
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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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