For Sale
$1,650,000

650 Riley St Holland, MI 49424

Fully Leased Shopping Center, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
132
This exceptional investment opportunity presents a fully leased, 21,582 square foot shopping center in Holland, Michigan. The property, situated on a 2.979-acre lot, consists of three single-story buildings constructed in 1980 and features eight tenants with 100% occupancy. The center boasts strong visibility from a high-traffic road and benefits from large ground-mounted signage. Key tenants include Uncle Jib's Ski and Kayak Store and DB International Market, which together occupy 50% (10,870 square feet) of the total space. The property is strategically located across the street from a Family Fare Grocery-anchored center, offering excellent synergy and foot traffic. Its convenient location, 3.5 miles west of the US-31 interchange at E. Lakewood Blvd., places it near the heart of Holland, within a strong demographic area. The property is zoned for commercial use and is offered as a fee-simple sale. The Net Lease (NNN) structure provides a passive income stream. This is a rare opportunity to acquire a well-established, fully occupied retail center with significant upside potential due to below-market rents and lease expirations beginning in 2027. The property's history of 100% occupancy and prime location make it an attractive investment for discerning buyers. The property's address is 650 Riley St, Holland, MI 49424. The parcel number is 70-16-18-101-043.

Highlights

  • Owner/developer selling for the first time.
  • 100% occupancy history.
  • High visibility from major thoroughfare.
  • Large ground-mounted signage available.
  • Eight tenants, including anchor tenants Uncle Jib’s Ski and Kayak Store and DB International Market (10,870 SF, 50% of total space).

Property Details for 650 Riley St

Property type
Lifestyle centers, Power centers
Square Feet
21,582 SF
Class
C
Year Built
1980
Buildings
3
Stories
1
Lot Size (sq. ft)
129,765 SF
Units
8

Location Insight

City
Holland
County
Ottawa
State
Michigan
Latitude
42.826635645523
Longitude
-86.136493161445

FAQs

What type of property is this?
Lifestyle center - Fully Leased Shopping Center, High Occupancy
Where is the lifestyle center located?
The property is located at 650 Riley St Holland, MI.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Owner/developer selling for the first time.; 100% occupancy history.; High visibility from major thoroughfare.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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650 Riley St
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