Assisted Living Campus
3205 Supply Road Traverse City, MI 49686
3205 Supply Road, Traverse City, MI, 49686
$1,598,000
For Sale
$1,598,000
Former assisted living and adult foster care facilities set across two large, fully barrier-free homes with walkout basements.
Property Size7,990 SF
Price / SF$200
Days on Market168
Property Features for 3205 Supply Road
General Information
- Standard status
- Active
- Size
- 7,990 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2015
Listing agency
Five Star Real Estate - Front St TC
(231) 218-5130
Listed by
Sam Abood · License #6504216686
(231) 218-5130
Source
Carolbollo
Added: Feb 4 Updated: Jul 21 at 2:26AM Checked: Jul 21 at 2:26AM
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 Five Star Real Estate - Front St TC
Investment Insights
Based on property information with market context.
This offering includes the full campus at 3205 Supply Road and 3255 Mahoney Dr, comprising former assisted living and adult foster care facilities. Each home features 6 bedrooms and 3.5 bathrooms and approximately 3,995 square feet. The interior layouts include a large community kitchen with dining area, as well as living room and family room spaces.
The homes are described as fully barrier free, including barrier-free bathrooms, doors, and entry areas, and include all laminate floors. Additional noted improvements include full walkout basements and a fire suppression system with sprinkling. A walking path for guests is also referenced as part of the campus.
The property is presented as convertible for multiple uses, including child care center, large extended families, vacation rentals, or employee housing, with each home listed individually in the source material.
The homes are described as fully barrier free, including barrier-free bathrooms, doors, and entry areas, and include all laminate floors. Additional noted improvements include full walkout basements and a fire suppression system with sprinkling. A walking path for guests is also referenced as part of the campus.
The property is presented as convertible for multiple uses, including child care center, large extended families, vacation rentals, or employee housing, with each home listed individually in the source material.
Key Highlights
- Former assisted living and adult foster care facilities in two separate homes on the same campus
- Built in 2015; each home features 6BD, 3.5BA, and 3,995 SF
- Fully barrier‑free design, including 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 | $143.8k | $18.00 |
| − Vacancy | −$5.8k | −$0.72 |
| EGI | $138.1k | $17.28 |
| − OpEx | −$62.1k | −$7.78 |
| NOI | $75.9k | $9.50 |
7,990 SF · lease $18.00/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$949.2K – $1.27M
NOI $75,937 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.74M
$1.52M – $2.02M
NOI $121,499 @ 7.0% cap · market cap 7.60%
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 and adult foster care facilities set across two large, fully barrier-free homes with walkout basements.
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 $1,598,000.
What are key features of this property?
This property features: Former assisted living and adult foster care facilities in two separate homes on the same campus; Built in 2015; each home features 6BD, 3.5BA, and 3,995 SF; Fully barrier‑free design, including barrier‑free bathrooms, doors, and entry areas
