Office Medical

Village Square Medical Campus - Building A

904 Washington Avenue, Holland, MI 49423

Listing Price: $1,410,145

Cap Rate
8.00%
Gross SF
11,022
Rentable SF
11,022
Price/Gross SF
$127.94
Year Built
1995
Lot Size
1.28 acres

Investment Overview

Marcus & Millichap is pleased to present the Village Square Medical Campus (Building A) property located at 904 Washington Avenue in Holland, MI. The total rentable area of this building is 11,022 square feet, The property also has a basement storage area with an additional 2,178 square feet. This property makes up 27.8% of the total Village Square Medical Campus. Building A is 84.72% occupied by four medical tenants.

The Village Square Medical Campus is comprised of four buildings totaling 43,000 square feet. Other tenants within the Medical Campus include Holland Pediatrics, Holland Hospital Family Medicine, Pine Rest and Hearing Life. The property is also located adjacent to the 94,000-square foot South Washington Office Park which is comprised of four buildings. Tenants in the adjacent medical office park include Holland Hospital Sleep Clinic, Behavioral Services & Lab; Huyser Orthodontics, Michigan Pain Consultants, among others.

Holland Foot & Ankle has occupied 28% of the property since 1995 and is leased through May 2029. Other specialized medical tenants at the center include Westshore Endodontics, Asthma Allergy Center, and Eyes To See (Pediatric Ophthalmology).

This asset is strategically located 2/3 of a mile from Holland Hospital, a 189-bed campus that recently underwent a $10 million, 23,400 square foot expansion of its orthopedic and neurosurgery unit. The Village Square Medical Campus (Building A) is also conveniently situated less than one mile north of the Gerald R. Ford freeway (Interstate-196), the major freeway that connects the western Michigan market to Grand Rapids, a major medical hub of Michigan.

Holland, Michigan features excellent demographics; there are over 84,000 residents with an average household income exceeding $79,000 within a five-mile radius. Holland is situated less than 30 miles from Grand Rapids, and is conveniently half-way between Detroit and Chicago.

The Village Square Medical Campus - Building A provides a stable investment with historical tenancy located in close proximity to a major hospital.

Investment Highlights

  • 84.72% Occupied | Upside Potential
  • Anchor Tenant has 9.5 Years of Lease Term Remaining
  • Strategically Located Less Than a Mile from Holland Hospital (189-Beds)
  • Situated One Mile North of Heavily Traveled Interstate-196
  • Excellent Demographics: 83,000 Residents Within Five Miles
  • Holland is Located Less Than 30 Miles from Grand Rapids

Exclusively Listed By

Office Medical

Village Square Medical Campus - Building A

Listing Price: $1,410,145

Cap Rate
8.00%
Gross SF
11,022
Rentable SF
11,022
Price/Gross SF
$127.94
Year Built
1995
Lot Size
1.28 acres

Investment Highlights

  • 84.72% Occupied | Upside Potential
  • Anchor Tenant has 9.5 Years of Lease Term Remaining
  • Strategically Located Less Than a Mile from Holland Hospital (189-Beds)
  • Situated One Mile North of Heavily Traveled Interstate-196
  • Excellent Demographics: 83,000 Residents Within Five Miles
  • Holland is Located Less Than 30 Miles from Grand Rapids

Investment Overview

Marcus & Millichap is pleased to present the Village Square Medical Campus (Building A) property located at 904 Washington Avenue in Holland, MI. The total rentable area of this building is 11,022 square feet, The property also has a basement storage area with an additional 2,178 square feet. This property makes up 27.8% of the total Village Square Medical Campus. Building A is 84.72% occupied by four medical tenants.

The Village Square Medical Campus is comprised of four buildings totaling 43,000 square feet. Other tenants within the Medical Campus include Holland Pediatrics, Holland Hospital Family Medicine, Pine Rest and Hearing Life. The property is also located adjacent to the 94,000-square foot South Washington Office Park which is comprised of four buildings. Tenants in the adjacent medical office park include Holland Hospital Sleep Clinic, Behavioral Services & Lab; Huyser Orthodontics, Michigan Pain Consultants, among others.

Holland Foot & Ankle has occupied 28% of the property since 1995 and is leased through May 2029. Other specialized medical tenants at the center include Westshore Endodontics, Asthma Allergy Center, and Eyes To See (Pediatric Ophthalmology).

This asset is strategically located 2/3 of a mile from Holland Hospital, a 189-bed campus that recently underwent a $10 million, 23,400 square foot expansion of its orthopedic and neurosurgery unit. The Village Square Medical Campus (Building A) is also conveniently situated less than one mile north of the Gerald R. Ford freeway (Interstate-196), the major freeway that connects the western Michigan market to Grand Rapids, a major medical hub of Michigan.

Holland, Michigan features excellent demographics; there are over 84,000 residents with an average household income exceeding $79,000 within a five-mile radius. Holland is situated less than 30 miles from Grand Rapids, and is conveniently half-way between Detroit and Chicago.

The Village Square Medical Campus - Building A provides a stable investment with historical tenancy located in close proximity to a major hospital.

Exclusively Listed By

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