Assisted Living Retirement
31601 Harper Avenue St Clair Shores, MI 48082
For Sale
Contact for pricing
Licensed assisted living and memory care center with two fully furnished buildings containing tenant rooms and caregiver housing.
Property Size18,000 SF
Price / SF$152.78
Days on Market57
Property Features for 31601 Harper Avenue
General Information
- Standard status
- Active
- Size
- 18,000 SF
- Property subtype
- Retail, Senior Living
Listing Agency:
Anthony DiBartolomeo
Listed By:
Brian DiBartolomeo · License #6502433149
Source:
Crexi
Added: May 28
Changed: Jul 23
Last Checked: Jul 23 at 7:09AM
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 Anthony DiBartolomeo
Investment Insights
Based on property information with market context.
Licensed assisted living and memory care center offered for sale. The property includes two separate buildings. Building one contains 18 units, and each unit includes an ensuite bathroom. Building two contains five units with a shared bathroom, along with a lower-level apartment for a caregiver.
Both buildings are fully furnished and include items intended to support immediate operations. Building one also includes a commercial kitchen and is currently 40% occupied.
This sale is described as an add-on opportunity focused primarily on the real estate, with the existing business positioned to provide a head start for the right buyer.
Both buildings are fully furnished and include items intended to support immediate operations. Building one also includes a commercial kitchen and is currently 40% occupied.
This sale is described as an add-on opportunity focused primarily on the real estate, with the existing business positioned to provide a head start for the right buyer.
Key Highlights
- Licensed assisted living/memory care center in Saint Clair Shores, Michigan
- Building 1 offers 18 units with ensuite bathrooms and is currently 40% occupied
- Building 2 has 5 units with a shared bathroom plus a lower‑level apartment for a caregiver
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $330.5k | $18.36 |
| − Vacancy | −$23.1k | −$1.29 |
| EGI | $307.3k | $17.07 |
| − OpEx | −$138.3k | −$7.68 |
| NOI | $169.0k | $9.39 |
18,000 SF · lease $18.36/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.41M
$2.11M – $2.82M
NOI $169,041 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.37M
$2.95M – $3.93M
NOI $235,892 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Hidden Harbors Senior ...
Nursing Home
Similar Off Market Nearby
- All star room & board services of Michigan inc — 31235 Harper Ave suite 221, St Clair Shores, MI 48082
FAQs
What type of property is this?
Assisted living facility - Licensed assisted living and memory care center with two fully furnished buildings containing tenant rooms and caregiver housing.
Where is this assisted living facility located?
The property is located at 31601 Harper Avenue St Clair Shores, MI.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Licensed assisted living/memory care center in Saint Clair Shores, Michigan; Building 1 offers 18 units with ensuite bathrooms and is currently 40% occupied; Building 2 has 5 units with a shared bathroom plus a lower‑level apartment for a caregiver
