650 E Riley St | Holland, MI 49424
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650 E Riley St
Holland, MI 49424
Riley Square · Retail Property For Sale
Executive Summary
NAI Wisinski of West Michigan is pleased to present for sale 650 Riley Street (“Riley Square”) – a 100% occupied 21,582 square foot neighborhood retail strip center located in Holland, MI. Riley Square exhibits a rare opportunity to purchase a fully leased retail property in a highly sought after market with in-place rents 50%+ below market. None of the existing tenants have renewal options and the longest in-place lease expires in 2027 providing a new owner with upside through mark-to-market rents.
First time available for sale by original owner / developer
History of 100% occupancy
Strong visibility from high-traffic road
Large ground-mounted signage
8 Tenants - Anchored by Uncle Jib’s Ski and Kayak Store / DB International Market (together comprise 10,870 RSF / 50% of total space).
The Subject Property is situated directly across the street from Riley Plaza - a Family Fare Grocery-Anchored Center. Located on the south side of Riley directly east of 144th Ave. and west of Butternut Dr., (7,750 VPD), the property is conveniently located 3.5 miles west of US-31 interchange at E. Lakewood Blvd. near the heart of Holland. The area demographics are strong.
First time available for sale by original owner / developer
History of 100% occupancy
Strong visibility from high-traffic road
Large ground-mounted signage
8 Tenants - Anchored by Uncle Jib’s Ski and Kayak Store / DB International Market (together comprise 10,870 RSF / 50% of total space).
The Subject Property is situated directly across the street from Riley Plaza - a Family Fare Grocery-Anchored Center. Located on the south side of Riley directly east of 144th Ave. and west of Butternut Dr., (7,750 VPD), the property is conveniently located 3.5 miles west of US-31 interchange at E. Lakewood Blvd. near the heart of Holland. The area demographics are strong.
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Retail
Building Size
23,692 SF
Building Class
C
Year Built
1980
Price
$1,650,000
Price Per SF
$70
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.24
Lot Size
2.31 AC
Zoning
SEE MAP - This parcel is a combination of C-1 (Neighborhood Commercial District ) and R-1 (Low Density Residential)
Parking
93 Spaces (3.93 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 70-16-18-101-043 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $590,400 |
PROPERTY TAXES
Parcel Number
70-16-18-101-043
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$590,400
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