650 Riley StHolland, MI 49424

Property Details for 650 Riley St

Lot size

2.31 AC

Property size (Sq ft)

23,692 SF

Zone code

SEE MAP

Property type

Retail space

APN

70-16-18-101-043

APU

701618101043

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $6,360,948

  6.5%

  $5,871,644

  7%

  $5,452,241

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,776,425

  Geo Method

  $7,776,425

• Alternative Use

  Use

  Valuation

  Residential

  $4,952,952

  Hospitality

  $4,536,877

  Educational

  $3,774,628

  Medical

  $3,904,444

  Retail

  $5,871,644

Location Insight

City

Holland

County

Ottawa

State

Michigan

Latitude

42.826

Longitude

-86.1366

CBSA code

24340

CBSA name

GRAND RAPIDS-WYOMING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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