218 N River Ave

Shopping Center for Sale
Also listed as Retail-Commercial
Catylist Listing ID: 30716249
Property Subtypes: Neighborhood Center, Outlet Center
Building Size (RSF): 33,468 SF
Gross Land Area: 2.76 Acres
Sale Price: $2,300,000
Unit Price: $68.72 PSF
Property Use Type: Investment
Building Name: Lakewood Plaza
Sale Terms: Cash to Seller
Last Updated: 7/6/2021

Overview / Comments

Lakewood Plaza is a retail center located at 218 N River Ave in Holland, MI. This retail center sits a little over two miles from two major expressways in the area, US-31, and I-196. Built in 1961, renovated in 2012, and sitting on a 2.76-acre parcel this building boasts 33,468 SF of retail space. Among its 33,468 SF are thirteen (13) suites.
On average, daily traffic counts for this property are upwards of 24,493 vehicles. Holland, MI has a median household income of $53,781. Within a five-mile radius of this retail center, the population reaches 98,072 people.

HIGHLIGHTS
• Strong history of high occupancy
• Diversified tenant mix of both national and local tenants
• Strong surrounding tenants: McDonald's, Wendy’s, CVS, and Taco Bell
• High visibility from both Lakewood Blvd and River Ave

INVESTMENT OVERVIEW
Lakewood Plaza offers an investor a great opportunity to own a highly visible, stable, and strong performing retail center. As it currently stands ten (10) of the thirteen (13) suites are occupied accounting for 77% of the total square footage of the building. With a historically high occupancy rate and a value add opportunity by increasing occupancy and raising lease rates, this center presents a fantastic investment opportunity in a solid market.

Attachments & Media

Additional Details

Nearest MSA: Holland-Grand Haven
County: Ottawa
Submarket/Township: Other area
Taxing Authority: Holland Township
Tax ID/APN: 70-16-20-301-015
Zoning: C-2
Site Description: On file with listing office
Year Built: 1961
Year Renovated: 2012

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,744 61,789 95,957
Median Age: 38.14 35.59 36.41
Households: 3,629 22,614 34,807
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