Assisted Living Adult Foster Care
For Sale
$997,900
1114 1st St, Wyandotte, MI 48192
Two-story brick facility built for adult foster care with updated systems and a flexible residential care layout.
Property Size3,100 SF
Days on Market108
Property Features for 1114 1st St
General Information
Standard status
Active
Size
3,100 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$13,993
Building Details
Building Size
3,100 SF
Year Built
1950
Units
11
Listing Agency:
M77 LLC
Listed By:
Patricia J Raymond · License #6502368307
(248) 229-8859
Source:
Elliman
Added: Jun 21
Changed: Oct 1
Last Checked: Oct 5 at 6:46PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of M77 LLC
Investment Insights
Based on property information with market context.
This two-story brick adult foster care property is configured for residential care operations, featuring 11 bedrooms, 12 beds, and 4 bathrooms, along with a basement. The home includes a new kitchen, fresh paint, updated HVAC, and new windows, reflecting substantial recent improvements. A detached 3-car garage adds practical onsite storage and parking capacity for operations.
The property also offers a large parking lot to support resident and staff access. The seller is in the process of obtaining an operational license for a 7–12-bed facility. Buyers and their agents should verify all licensing, zoning, use requirements, room counts, and municipal and state approvals prior to closing.
With the major updates already completed, the asset can be considered by operators or investors looking for a care-facility setup with an existing room and bath configuration. Because the licensing process is ongoing and bed capacity is tied to the requested 7–12-bed operation, prospective buyers should confirm the final approved operating parameters during due diligence.
The property also offers a large parking lot to support resident and staff access. The seller is in the process of obtaining an operational license for a 7–12-bed facility. Buyers and their agents should verify all licensing, zoning, use requirements, room counts, and municipal and state approvals prior to closing.
With the major updates already completed, the asset can be considered by operators or investors looking for a care-facility setup with an existing room and bath configuration. Because the licensing process is ongoing and bed capacity is tied to the requested 7–12-bed operation, prospective buyers should confirm the final approved operating parameters during due diligence.
Key Highlights
- Two‑story brick adult foster care facility (built 1950) with 11 bedrooms, 12 beds, and 4 bathrooms
- Recent updates include a new kitchen, fresh paint, updated HVAC, and new windows
- Basement level plus a flexible layout for residential care operations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,946
Cap Rate
2.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$558,920
$558.9K
Cap Rate 7%
$399,229
$399.2K
Cap Rate 9%
$310,511
$310.5K
Market Conditions
NOI Build-Up for 3,100 SF
Gross rent
$53.9K $17.40/SF
− Vacancy
−$3.1K −$1.01/SF
EGI
$50.8K $16.39/SF
− OpEx
−$22.9K −$7.38/SF
NOI
$27.9K $9.01/SF
Area
Wayne County, MI
Vacancy
5.80%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$558,920
Cap Rate 7%
$399,229
Cap Rate 9%
$310,511
Alternative Uses
Best Use
Apartment 5plus
$399.2K
$349.3K – $465.8K
NOI $27,946 @ 7.0% cap · market cap 2.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$573.9K
$502.2K – $669.6K
NOI $40,176 @ 7.0% cap · market cap 4.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
217
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48192, MI
25,058
Population
11,441
Households
2.2
Avg Household Size
42
Median Age
21%
College-Educated
91%
High-School Grad
5.3 sq mi
ZIP Area
4,728
Density / Sq Mi
$67,846
Median Household Income
$42,999
Median Earnings
$995
Median Rent
$159,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Lewisite Inc — 424 St John St, Wyandotte, MI 48192
Frequently Asked Questions
What type of property is this?
Assisted living facility - Two-story brick facility built for adult foster care with updated systems and a flexible residential care layout.
Where is this assisted living facility located?
The property is located at 1114 1st St Wyandotte, MI.
What is the asking price?
The asking price for this property is $997,900.
What are key features of this property?
This property features: Two‑story brick adult foster care facility (built 1950) with 11 bedrooms, 12 beds, and 4 bathrooms; Recent updates include a new kitchen, fresh paint, updated HVAC, and new windows; Basement level plus a flexible layout for residential care operations
