Building Details

Building Size 30,270 SF

Year Built 2002

Listing Agency: Signature Associates - Southfield

Listed By: Scott Elliott · License #6506044232 Show Phone

Source: Tcnworldwide

Added: Mar 6 Changed: Sep 14 Last Checked: Oct 5 at 5:41PM

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Investment Insights

Based on property information with market context.

The Brownstown Forest View Assisted Living facility is a 30,270 square foot property containing 57 units.

Key Highlights

• 30,270 sq.ft. Assisted Living Facility
• 57 Units
• Brownstown Forest View Location

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$272,882

Cap Rate

6.42%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,457,640 $5.5M

Cap Rate 7%

$3,898,314 $3.9M

Cap Rate 9%

$3,032,022 $3.0M

Market Conditions

NOI Build-Up for 30,270 SF

Gross rent

$526.7K $17.40/SF

− Vacancy

−$30.5K −$1.01/SF

EGI

$496.1K $16.39/SF

− OpEx

−$223.3K −$7.38/SF

NOI

$272.9K $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%

$5,457,640

Cap Rate 7%

$3,898,314

Cap Rate 9%

$3,032,022

Alternative Uses

Best Use

Apartment 5plus

$3.90M

$3.41M – $4.55M (±1% cap)

NOI $272,882 @ 7.0% cap · market cap 6.42%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$5.60M

$4.90M – $6.54M (±1% cap)

NOI $392,299 @ 7.0% cap · market cap 9.23%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Hoover L E Ophthalmologist

Suggested Use

Top Pick Law Firm Parking Lot & Garage Pharmacy Restaurant Grocery & Convenience Store Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

283

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 48183, MI

42,447

Population

18,095

Households

2.3

Avg Household Size

43

Median Age

27%

College-Educated

94%

High-School Grad

18.0 sq mi

ZIP Area

2,358

Density / Sq Mi

$82,020

Median Household Income

$51,534

Median Earnings

$1,009

Median Rent

$214,000

Median Home Value

Questions? Ask Rey

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What type of property is this? Where is this assisted living facilities located? What is the asking price? Find similar properties What are key features of this property?

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Similar Off Market Nearby

• Brownstown Forest View Assisted Living — 19341 Allen Rd, Brownstown Charter Twp, MI 48183

Frequently Asked Questions

What type of property is this?

Assisted living facility - 30,270 sq. ft. assisted living facility for sale.

Where is this assisted living facility located?

The property is located at 19341 Allen Rd Brownstown, MI.

What is the asking price?

The asking price for this property is $4,250,000.

What are key features of this property?

This property features: 30,270 sq.ft. Assisted Living Facility; 57 Units; Brownstown Forest View Location