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32046471
32046470

10500 CHICAGO DR, ZEELAND, MI 49464-8746 For Sale

AE
MI 6502430903
Pantheon Commercial, LLC
Listed by Pantheon Commercial, LLC
$1,450,000
80 days on market
Updated 80 days ago

10500 Chicago Drive , 80

Details
APN 70-16-23-250-021
Property Type Retail, Office
Sub Type Medical Office, Restaurant (+1)
Square Footage 16,082
Units 71
Cap Rate 8.27%
NOI $119,868
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 9.15%
Pro-Forma NOI $132,680
Price per SqFt $90
Year Built 1997
Stories 1
Lot Size (SqFt) 77,296
Parking Spaces 83 spaces
Parking per 1,000 SqFt 5.16
Investment Type Stabilized
Tenant Credit No Credit Rating
Ground Lease No

16,082 SF Multi-Tenant Office on 1.78 Acres — Long-Tenured Roster + Restaurant Anchor Fully Occupied

Marketing description

Pantheon Commercial is pleased to present West Park Office Center, a 16,082 SF multi-tenant professional office building on 1.78 acres along Chicago Drive in Zeeland, Michigan. Built in 1997 with 85 surface parking spaces and zoned O-S (Office-Service), the property is anchored by Vee's Grill & Coney Island and home to a diversified roster of professional services tenants spanning legal, financial advisory, medical, wellness, and real estate uses.

The asset is positioned directly on Chicago Drive, the primary commercial corridor connecting Holland and Zeeland, drawing daytime traffic from Gentex, Herman Miller, Haworth, and the broader West Michigan manufacturing base. Multiple tenants have occupied their suites for five or more years, with documented lease renewals across the roster signaling strong tenant retention. The building's restaurant anchor occupies the prominent corner suite and serves as a destination draw for the property's professional services tenants. The property has a very strong leasing history, and the property has continued upside in getting current leases marked to market as they roll over.

Offered at $1,450,000 West Park Office Center represents an accessible foothold in the stable Holland-Zeeland submarket for 1031 exchange buyers, and investors seeking a small-cap entry point into West Michigan's professional office sector with an extremely low basis of only $90/SF.

Investment highlights

INVESTMENT / PROPERTY HIGHLIGHTS (bullet list)

  • Eight-tenant multi-tenant office building anchored by Vee's Grill & Coney Island restaurant
  • Diversified professional-services tenant base — legal, financial, medical, wellness, real estate
  • Long-tenured tenant roster with documented lease renewals; multiple tenants in place 5+ years
  • Built in 1997; 85 surface parking spaces (~5.3 spaces per 1,000 SF)
  • 1.78-acre site with strong frontage and visibility along Chicago Drive
  • O-S (Office-Service) zoning supports a wide range of professional and service uses
  • Direct frontage on Chicago Drive — the primary corridor between Holland and Zeeland
  • 9,738 VPD on Chicago Drive
  • 5-mile population of 79,000 with median household income of $92,000
  • Accessible $90 / SF basis — attractive to owner-operators, 1031 buyers, and small-cap investors
  • Near-term mark-to-market opportunity on lease rollovers

Listing Contacts

AE
MI 6502430903
Pantheon Commercial, LLC
Listed by Pantheon Commercial, LLC

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$119,868.00
$9,989.00/mo

Valuation Metrics

0
DSCR
8.27%
Cap Rate
8.27%
ROI

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