Operating Assisted Living
For Sale
$239,000
1624 Gratiot Avenue, Saginaw, MI 48602
Package acquisition includes three operating adult foster care facilities and the established business serving residential care needs.
Property Size2,165 SF
Price / SF$110.39
Days on Market52
Property Features for 1624 Gratiot Avenue
General Information
Standard status
Active
Size
2,165 SF
Property subtype
Business Opportunity
Zoning
Multiple, Residential
Lease Term
Cash, Conventional, Usda Loan, Warranty Deed
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$3,356
Building Details
Building Size
2,165 SF
Year Built
1924
Buildings
3
Stories
2
Listing Agency:
EXP Realty Main
(248) 207-6229
Listed By:
Mahmoud Gasama · License #6501323359
(248) 207-6229
Source:
Sabudarealty
Added: Jun 21
Changed: Aug 10
Last Checked: Aug 11 at 2:50PM
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 EXP Realty Main
Investment Insights
Based on property information with market context.
This offering combines three operating Adult Foster Care facilities with the associated business in a single package acquisition. The properties are configured for residential care and include established staffing and administrative systems supporting coordinated operations. The portfolio contains approximately 23–24 licensed beds across the facilities.
The real estate is located in Saginaw County, Michigan, with the listed property at 1624 Gratiot Avenue in Saginaw. Zoning is identified as Multiple, Residential, and the listed structure was built in 1924. The sale includes both the real estate and operating business. Licensing, occupancy, financial, and operating materials are available to qualified purchasers after execution of a confidentiality agreement and verification of financial capability.
The real estate is located in Saginaw County, Michigan, with the listed property at 1624 Gratiot Avenue in Saginaw. Zoning is identified as Multiple, Residential, and the listed structure was built in 1924. The sale includes both the real estate and operating business. Licensing, occupancy, financial, and operating materials are available to qualified purchasers after execution of a confidentiality agreement and verification of financial capability.
Key Highlights
- Three operating Adult Foster Care facilities offered as one package
- Approximately 23–24 licensed beds across the portfolio
- Sale includes the real estate and operating business
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,183
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$243,660
$243.7K
Cap Rate 7%
$174,043
$174.0K
Cap Rate 9%
$135,367
$135.4K
Market Conditions
NOI Build-Up for 2,165 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$23.1K $10.68/SF
− Vacancy
−$971 −$0.45/SF
EGI
$22.2K $10.23/SF
− OpEx
−$10.0K −$4.60/SF
NOI
$12.2K $5.63/SF
Area
Saginaw County, MI
Vacancy
4.20%
Lease Rate
$10.68 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$243,660
Cap Rate 7%
$174,043
Cap Rate 9%
$135,367
Alternative Uses
Best Use
Apartment 5plus
$174.0K
$152.3K – $203.1K
NOI $12,183 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$400.0K
$350.0K – $466.7K
NOI $28,000 @ 7.0% cap · market cap 11.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
690
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48602, MI
27,613
Population
12,286
Households
2.2
Avg Household Size
36
Median Age
15%
College-Educated
83%
High-School Grad
7.8 sq mi
ZIP Area
3,540
Density / Sq Mi
$46,068
Median Household Income
$29,611
Median Earnings
$902
Median Rent
$70,200
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Hoornstra Adult Foster Care Home — 704 S Michigan Ave, Saginaw, MI 48602
- Beacon Harbor Afc — 2026 Division St, Saginaw, MI 48602
- Shiavone Home — 1610 Gratiot Ave, Saginaw, MI 48602
- Harmony Home Health & Hospice (Compassionate Care Hospice) — 1413 Gratiot Ave suite b, Saginaw, MI 48602
Frequently Asked Questions
What type of property is this?
Assisted living facility - Package acquisition includes three operating adult foster care facilities and the established business serving residential care needs.
Where is this assisted living facility located?
The property is located at 1624 Gratiot Avenue Saginaw, MI.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Three operating Adult Foster Care facilities offered as one package; Approximately 23–24 licensed beds across the portfolio; Sale includes the real estate and operating business
