Barrier-Free Assisted Living
3205 Supply Rd Traverse City, MI 49686
3205 Supply Rd, Traverse City, MI, 49686
$850,000
For Sale
$850,000
Former assisted living/Adult Foster Care with barrier-free design, community dining, and walkout basements.
Property Size3,995 SF
Price / SF$212.77
Days on Market87
Property Features for 3205 Supply Rd
General Information
- Standard status
- Active
- Size
- 3,995 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2015
Listing agency
James A Schmuckal, REALTOR
(231) 620-2260
Listed by
James Schmuckal · License #6504075391
Source
Elliman
Added: Apr 27 Updated: Jul 21 at 4:21AM Checked: Jul 21 at 4:21AM
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 James A Schmuckal, REALTOR
Investment Insights
Based on property information with market context.
This former assisted living and Adult Foster Care facility is configured as a large residential-style home with 6 bedrooms and 3.5 bathrooms. Interior common areas include a large community kitchen and dining area, along with living room and family room spaces. The property is designed for barrier-free accessibility, including fully barrier-free bathrooms, doors, and entry areas. Flooring is listed as laminate throughout. Additional improvements include full walkout basements and a fire suppression system with sprinklers.
The home is located at 3205 Supply Rd in East Bay Township, MI, and is described as having a country setting with a walking path for guests.
The home is located at 3205 Supply Rd in East Bay Township, MI, and is described as having a country setting with a walking path for guests.
Key Highlights
- Former assisted living/Adult foster care facility built in 2015
- 6 BD and 3.5 BA with 3,995 SF of interior space
- Barrier‑free design with barrier‑free bathrooms, doors, and entry areas
Local 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 | $71.9k | $18.00 |
| − Vacancy | −$2.9k | −$0.72 |
| EGI | $69.0k | $17.28 |
| − OpEx | −$31.1k | −$7.78 |
| NOI | $38.0k | $9.50 |
3,995 SF · lease $18.00/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$542.4K
$474.6K – $632.8K
NOI $37,968 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$867.9K
$759.4K – $1.01M
NOI $60,750 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Assisted living facilities
Similar For Sale Nearby
FAQs
What type of property is this?
Assisted living facility - Former assisted living/Adult Foster Care with barrier-free design, community dining, and walkout basements.
Where is this assisted living facility located?
The property is located at 3205 Supply Rd Traverse City, MI.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Former assisted living/Adult foster care facility built in 2015; 6 BD and 3.5 BA with 3,995 SF of interior space; Barrier‑free design with barrier‑free bathrooms, doors, and entry areas
