Barrier-Free Assisted Living
3205 Supply Road Traverse City, MI 49686
For Sale
$799,000
COMMERCIAL - Traverse City, MI
Property Size3,995 SF
Lot Size3.83 Acres
Price / SF$200
Days on Market173
Property Features for 3205 Supply Road
General Information
Property type
Commercial Sale
Property subtype
Other
Exterior features
Vinyl
Standard status
Active
Size
3,995 SF
Lot size
3.83 Acres
Taxes and HOA fees
Tax Description
TBP - SEE ASSOCIATED DOCUMENTS
Utilities
Water source
Private
Building Details
Building materials
Frame
Roof type
Asphalt
Listing Agency:
Five Star Real Estate - Front St TC
(231) 778-1200
Listed By:
Sam Abood · License #6504216686
(231) 218-5130
Added: Feb 4
Changed: Jul 2
Last Checked: Jul 27 at 11:06AM
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.
Investment Insights
Based on property information with market context.
This property is a large, unique home configured for assisted living and adult foster care use, offering 6 bedrooms and 3.5 bathrooms in approximately 3,995 square feet. Interiors include multiple shared living spaces such as a community kitchen with dining area, a living room, and family room areas. The home features fully barrier-free bathrooms, doors, and entry areas, along with laminate floors. Full walkout basements add additional functional space, and the building has a fire suppression system with sprinklers.
Set on about 3.83 acres, the property includes a walking path for guests and is described as a nice country setting. The configuration supports on-site gathering and daily routines, with the layout designed around common-area use.
While previously operated as an assisted living and adult foster care facility, the home may also fit other community-oriented, residential-oriented concepts such as a child care center, extended family housing, vacation rentals, or employee housing. The barrier-free design and fire suppression/sprinkler features are practical considerations for operators planning accessibility-focused programs and multi-room resident or group living arrangements.
Set on about 3.83 acres, the property includes a walking path for guests and is described as a nice country setting. The configuration supports on-site gathering and daily routines, with the layout designed around common-area use.
While previously operated as an assisted living and adult foster care facility, the home may also fit other community-oriented, residential-oriented concepts such as a child care center, extended family housing, vacation rentals, or employee housing. The barrier-free design and fire suppression/sprinkler features are practical considerations for operators planning accessibility-focused programs and multi-room resident or group living arrangements.
Key Highlights
- Former assisted living/adult foster care facility with 6 BD and 3.5 BA
- About 3,995 SF with community‑style living spaces including a large kitchen and dining area
- Fully barrier‑free bathrooms, doors, and entry areas
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 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$867.9K
$759.4K – $1.01M
NOI $60,750 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Assisted living facility - Former assisted living and adult foster care property with barrier-free features, walkout basements, and fire-suppression sprinklers.
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 $799,000.
What are key features of this property?
This property features: Former assisted living/adult foster care facility with 6 BD and 3.5 BA; About 3,995 SF with community‑style living spaces including a large kitchen and dining area; Fully barrier‑free bathrooms, doors, and entry areas
