Barrier-Free Assisted Living
For Sale
$749,000
3205 Supply Road, Traverse City, MI 49686
Commercial, Traverse City, MI
Property Size3,995 SF
Lot Size3.83 Acres
Price / SF$187.48
Days on Market264
Property Features for 3205 Supply Road
General Information
Property type
Commercial Sale
Property subtype
Other
Exterior features
Vinyl
Lot features
Freestanding
Directions
HAMMOND RD TO SUPPLY RD TO PROPERTY ON LEFT.
Subdivision
Grand Traverse
Standard status
Active
Size
3,995 SF
Lot size
3.83 Acres
Taxes and HOA fees
Tax Description
TBP - SEE ASSOCIATED DOCUMENTS
Legal Description
TBP - SEE ASSOCIATED DOCUMENTS
Utilities
Water source
Private
Amenities
Large Community Kitchen
Dining Area
Living Room
Family Room Areas
Fully Barrier Free Bathrooms
All laminate Floors
Full Walkout Basements
Walking Path For Guests
Nice Country Setting
Building Details
Building materials
Frame
Roof type
Asphalt
Listing Agency:
Five Star Real Estate - Front St TC
(231) 778-1200
Listed By:
Sam Abood
(231) 218-5130
Added: Feb 4
Changed: Oct 8
Last Checked: Oct 26 at 1:06PM
MLS# 1942068
Copyright © 2026 Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This assisted living property contains 3995 square feet with 6BD and 3.5 BA. The layout includes a community kitchen, dining area, living room, and family room spaces, along with fully barrier-free bathrooms, doors, and entry areas. Laminate flooring, full walkout basements, and an asphalt roof are also included.
A fire suppression system and sprinklers serve the property, which sits on 3.83 acres with a walking path for guests. The building uses frame construction with vinyl exterior materials and a private water source. The former assisted living and adult foster care configuration is also identified as suitable for child care, extended-family housing, vacation rentals, or employee housing.
A fire suppression system and sprinklers serve the property, which sits on 3.83 acres with a walking path for guests. The building uses frame construction with vinyl exterior materials and a private water source. The former assisted living and adult foster care configuration is also identified as suitable for child care, extended-family housing, vacation rentals, or employee housing.
Key Highlights
- 6BD, 3.5 BA, and 3995 SQ FT layout
- 3.83‑acre property with a guest walking path
- Fully barrier‑free bathrooms, doors, and entry areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,968
Cap Rate
5.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$759,360
$759.4K
Cap Rate 7%
$542,400
$542.4K
Cap Rate 9%
$421,867
$421.9K
Market Conditions
NOI Build-Up for 3,995 SF
Gross rent
$71.9K $18.00/SF
− Vacancy
−$2.9K −$0.72/SF
EGI
$69.0K $17.28/SF
− OpEx
−$31.1K −$7.78/SF
NOI
$38.0K $9.50/SF
Area
Grand Traverse County, MI
Vacancy
4.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$759,360
Cap Rate 7%
$542,400
Cap Rate 9%
$421,867
Alternative Uses
Best Use
Apartment 5plus
$542.4K
$474.6K – $632.8K
NOI $37,968 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$867.9K
$759.4K – $1.01M
NOI $60,750 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49686, MI
25,859
Population
13,261
Households
2
Avg Household Size
45
Median Age
46%
College-Educated
95%
High-School Grad
47.3 sq mi
ZIP Area
547
Density / Sq Mi
$71,198
Median Household Income
$40,373
Median Earnings
$1,209
Median Rent
$295,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Assisted living facility - Existing residential-style layout includes shared gathering areas, accessible features, and a walking path across a country setting.
Where is this assisted living facility located?
The property is located at 3205 Supply Road Traverse City, MI.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 6BD, 3.5 BA, and 3995 SQ FT layout; 3.83‑acre property with a guest walking path; Fully barrier‑free bathrooms, doors, and entry areas
