Three-Property Adult Foster Care
For Sale
$369,900
1690 N Center Rd, Saginaw, MI 48638
Package acquisition of three licensed adult foster care homes with real estate and operating business included.
Property Size4,130 SF
Price / SF$89.56
Days on Market94
Property Features for 1690 N Center Rd
General Information
Standard status
Active
Size
4,130 SF
Building Details
Year Built
1953
Listing Agency:
EXP Realty Main
Listed By:
Mahmoud Gasama · License #6501323359
(248) 207-6229
Source:
Katie-k
Added: Jun 22
Changed: Sep 14
Last Checked: Sep 22 at 7:18PM
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.
The offering is a confidential package acquisition of three operating Adult Foster Care (AFC) facilities, included with the operating business and associated real estate. The portfolio is described as totaling approximately 23–24 licensed beds across the three facilities and includes approximately 9,570 square feet of improved real estate. The facilities are currently configured for residential care use and are supported by established operational systems and infrastructure, with shared staffing and administrative support designed to streamline day-to-day operations.
The transaction is structured as a single portfolio sale preferred by the seller, rather than separate property transactions. The materials indicate the facilities are located in Saginaw County, Michigan. For qualified purchasers, financial information, licensing documentation, occupancy details, and operational information are made available following execution of a confidentiality agreement and proof of financial capability.
This package is intended for qualified operators and investors seeking an entry point or expansion within Michigan residential care, including existing Adult Foster Care providers, assisted living operators, behavioral health organizations, and healthcare entrepreneurs. Sale includes both real estate and the operating business, and the seller’s preference is to sell all facilities together. All inquiries and showings must be coordinated through the listing broker, and the public remarks direct that staff, residents, caregivers, and management should not be contacted.
The transaction is structured as a single portfolio sale preferred by the seller, rather than separate property transactions. The materials indicate the facilities are located in Saginaw County, Michigan. For qualified purchasers, financial information, licensing documentation, occupancy details, and operational information are made available following execution of a confidentiality agreement and proof of financial capability.
This package is intended for qualified operators and investors seeking an entry point or expansion within Michigan residential care, including existing Adult Foster Care providers, assisted living operators, behavioral health organizations, and healthcare entrepreneurs. Sale includes both real estate and the operating business, and the seller’s preference is to sell all facilities together. All inquiries and showings must be coordinated through the listing broker, and the public remarks direct that staff, residents, caregivers, and management should not be contacted.
Key Highlights
- Package acquisition of three operating Adult Foster Care facilities in Saginaw County, MI
- Total of approximately 23–24 licensed beds across the three facilities
- Approximately 9,570 sq ft of improved real estate included in the portfolio sale
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
$23,241
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
6.28%
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%
$464,820
$464.8K
Cap Rate 7%
$332,014
$332.0K
Cap Rate 9%
$258,233
$258.2K
Market Conditions
NOI Build-Up for 4,130 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
$44.1K $10.68/SF
− Vacancy
−$1.9K −$0.45/SF
EGI
$42.3K $10.23/SF
− OpEx
−$19.0K −$4.60/SF
NOI
$23.2K $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%
$464,820
Cap Rate 7%
$332,014
Cap Rate 9%
$258,233
Alternative Uses
Best Use
Apartment 5plus
$332.0K
$290.5K – $387.4K
NOI $23,241 @ 7.0% cap · market cap 6.28%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$763.0K
$667.7K – $890.2K
NOI $53,413 @ 7.0% cap · market cap 14.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
513
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48638, MI
13,199
Population
6,479
Households
2
Avg Household Size
42
Median Age
36%
College-Educated
95%
High-School Grad
6.5 sq mi
ZIP Area
2,031
Density / Sq Mi
$63,444
Median Household Income
$44,281
Median Earnings
$948
Median Rent
$161,200
Median Home Value
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Similar Off Market Nearby
- Close to Home Assisted Living — 2160 N Center Rd, Saginaw, MI 48603
Frequently Asked Questions
What type of property is this?
Assisted living facility - Package acquisition of three licensed adult foster care homes with real estate and operating business included.
Where is this assisted living facility located?
The property is located at 1690 N Center Rd Saginaw, MI.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Package acquisition of three operating Adult Foster Care facilities in Saginaw County, MI; Total of approximately 23–24 licensed beds across the three facilities; Approximately 9,570 sq ft of improved real estate included in the portfolio sale
