Barrier-Free Adult Care
3205 Supply Road Traverse City, MI 49686
For Sale
$799,000
Former assisted living/adult foster care property with fully barrier-free bathrooms and full walkout basements.
Property Size3,995 SF
Price / SF$200
Days on Market173
Property Features for 3205 Supply Road
General Information
Standard status
Active
Size
3,995 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:
Sabudarealty
Added: Feb 4
Changed: Jul 21
Last Checked: Jul 26 at 4:56PM
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.
Former assisted living and adult foster care facility offering a large interior layout with multiple living and gathering spaces, including a community kitchen, dining area, living room, and family room areas. The home includes 6 bedrooms and 3.5 bathrooms, with fully barrier-free bathrooms, doors, and entry areas. Flooring is laminate throughout, and the property features full walkout basements and a fire suppression system with sprinklers.
The property is set in a country setting and includes walking paths for guests, supporting on-site movement for residents and visitors.
With its barrier-free design and sizable common areas, the building is described as potentially suitable for uses such as a child care center, extended family setup, vacation rentals, or employee housing, subject to applicable requirements and approvals.
The property is set in a country setting and includes walking paths for guests, supporting on-site movement for residents and visitors.
With its barrier-free design and sizable common areas, the building is described as potentially suitable for uses such as a child care center, extended family setup, vacation rentals, or employee housing, subject to applicable requirements and approvals.
Key Highlights
- Former assisted living/adult foster care property built in 2015
- 6 bedrooms and 3.5 bathrooms with 3,995 SF of living space
- Fully barrier‑free bathrooms, doors, and entry areas throughout
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
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Assisted living facility - Former assisted living/adult foster care property with fully barrier-free bathrooms and full 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 $799,000.
What are key features of this property?
This property features: Former assisted living/adult foster care property built in 2015; 6 bedrooms and 3.5 bathrooms with 3,995 SF of living space; Fully barrier‑free bathrooms, doors, and entry areas throughout
