Building Details

Year Built 1957

Buildings 1

Stories 1

Units 1

Listing Agency: TDG Commercial

Listed By: Brock Bean · License #462328

Source: Crexi

Added: Jul 31 Changed: Aug 9 Last Checked: Aug 9 at 11:25AM

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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 TDG Commercial

Investment Insights

Based on property information with market context.

This approximately 6,000-square-foot, single-story senior housing property is arranged as two wings of approximately 3,000 square feet each. The layout includes 15 bedrooms, two kitchens, common living areas, laundry hookups, and separately served heating, cooling, and water-heating systems. Both wings feature walk-in ADA showers, while the building also includes an expanded meal-preparation kitchen, updated furnaces, fresh paint, new carpeting, and an interior courtyard with a covered outdoor gathering area.

The property is zoned Commercial and was built in 1957. A Generac backup generator is reported to serve most of the building. The facility was formerly used as a convent and licensed care facility, with potential future uses subject to municipal approval, licensing, occupancy, and building-code requirements. The address provides access to M-13, I-75, Bay City, and the greater Tri-City area.

Key Highlights

• Approximately 6,000 square feet in a single‑story building
• Two wings of approximately 3,000 square feet each
• 15 bedrooms with two kitchens and common living areas

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

$32,966

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

6.00%

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%

$659,320 $659.3K

Cap Rate 7%

$470,943 $470.9K

Cap Rate 9%

$366,289 $366.3K

Market Conditions

NOI Build-Up for 6,000 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

$63.4K $10.56/SF

− Vacancy

−$3.4K −$0.57/SF

EGI

$59.9K $9.99/SF

− OpEx

−$27.0K −$4.50/SF

NOI

$33.0K $5.49/SF

Area

Bay County, MI

Vacancy

5.40%

Lease Rate

$10.56 /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%

$659,320

Cap Rate 7%

$470,943

Cap Rate 9%

$366,289

Alternative Uses

Best Use

Apartment 5plus

$470.9K

$412.1K – $549.4K (±1% cap)

NOI $32,966 @ 7.0% cap · market cap 6.00%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.09M

$950.4K – $1.27M (±1% cap)

NOI $76,032 @ 7.0% cap · market cap 13.85%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Assisted living facilities

Suggested Use

Top Pick Real Estate Agency Big Box & Wholesale Store Building Supply Auto Parts Store Plumbing Service Grocery & Convenience Store

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

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

46

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 48634, MI

4,152

Population

2,098

Households

2

Avg Household Size

47

Median Age

19%

College-Educated

92%

High-School Grad

49.0 sq mi

ZIP Area

85

Density / Sq Mi

$78,929

Median Household Income

$49,016

Median Earnings

$754

Median Rent

$156,800

Median Home Value

Questions? Ask Rey

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What type of property is this? Where is this senior housing / retirement homes located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Senior housing / Retirement Home - Single-story property includes two wings with separate mechanical systems and accessible bathing facilities.

Where is this senior housing / retirement home located?

The property is located at 200 S 4th Street Linwood, MI.

What is the asking price?

The asking price for this property is $549,000.

What are key features of this property?

This property features: Approximately 6,000 square feet in a single‑story building; Two wings of approximately 3,000 square feet each; 15 bedrooms with two kitchens and common living areas