Assisted Living Facility with
For Sale
$725,000
Pending
8155 Blackman Road, Kingsley, MI 49649
Commercial, Kingsley, MI
Property Size5,800 SF
Lot Size9.97 Acres
Days on Market93
Property Features for 8155 Blackman Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Residential, Agricultural, Special Use
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 3, Bathroom 4, Bathroom 2, Bathroom 5, Bathroom 1, Bathroom 6
Exterior features
Vinyl
Directions
FROM KINGSLEY TRAVEL S ON FENTON TO BLACKMAN, HOME IS ON THE LEFT. FROM S TRAVEL N ON BLACKMAN HOME IS ON RIGHT.
Subdivision
Grand Traverse
Standard status
Pending
Size
5,800 SF
Lot size
9.97 Acres
Taxes and HOA fees
Tax Description
PARCEL A: PART OF SEC17 T25N R10W COM AT NW CNR SEC 17 TH S 00 DEG 31'00" W 658.06' TO POB TH S 00 DEG 31'00" W 329.03' TH N 89 DEG 54'01" E 1317.26' TH N 00 DEG 31'27" E 330.39' TH S 89 DEG 50'29" W 1317.32' TO POB SPLIT ON 10/28/2004 FROM 10-017-005-10
Legal Description
PARCEL A: PART OF SEC17 T25N R10W COM AT NW CNR SEC 17 TH S 00 DEG 31'00" W 658.06' TO POB TH S 00 DEG 31'00" W 329.03' TH N 89 DEG 54'01" E 1317.26' TH N 00 DEG 31'27" E 330.39' TH S 89 DEG 50'29" W 1317.32' TO POB SPLIT ON 10/28/2004 FROM 10-017-005-10
Utilities
Water source
Private
Amenities
whole house generator
attached garage
pole barn
Building Details
Building materials
Frame, 2x6 Framing
Roof type
Asphalt
Listing Agency:
The Difference Real Estate
(231) 564-2600
Listed By:
Amber Ahlin
(616) 788-3142
Added: Jun 10
Changed: Sep 6
Last Checked: Sep 10 at 2:06PM
MLS# 1946365
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 licensed assisted living facility is currently operated as a live-in adult foster care home with a 6-bed capacity. The 5,800-square-foot property includes 10 bedrooms, three living rooms, a large kitchen and dining area, two laundry rooms, and an attached 2-car garage. The main floor is wheelchair accessible, while the lower level is configured as private owner living quarters. A pole barn provides additional storage, and the building has vinyl siding, asphalt roofing, forced-air and hot-water heat, a whole-house Kohler generator, two independent septic systems, and two separate 200-amp electric services.
Set on 9.97 acres in Kingsley, the property offers private grounds with outdoor space and room for possible future additions or amenities, subject to township approval. The site provides access to Traverse City, Cadillac, and surrounding Northern Michigan communities. Scheduled showings are required.
Set on 9.97 acres in Kingsley, the property offers private grounds with outdoor space and room for possible future additions or amenities, subject to township approval. The site provides access to Traverse City, Cadillac, and surrounding Northern Michigan communities. Scheduled showings are required.
Key Highlights
- Licensed AFC property currently operating with a 6‑bed capacity
- 5,800 square feet with 10 bedrooms and three living rooms
- 9.97‑acre setting in Kingsley, MI
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$55,123
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,102,460
$1.1M
Cap Rate 7%
$787,471
$787.5K
Cap Rate 9%
$612,478
$612.5K
Market Conditions
NOI Build-Up for 5,800 SF
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.
Gross rent
$104.4K $18.00/SF
− Vacancy
−$4.2K −$0.72/SF
EGI
$100.2K $17.28/SF
− OpEx
−$45.1K −$7.78/SF
NOI
$55.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,102,460
Cap Rate 7%
$787,471
Cap Rate 9%
$612,478
Alternative Uses
Best Use
Apartment 5plus
$787.5K
$689.0K – $918.7K
NOI $55,123 @ 7.0% cap · market cap 7.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,197 @ 7.0% cap · market cap 12.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49649, MI
6,919
Population
2,639
Households
2.6
Avg Household Size
38
Median Age
24%
College-Educated
93%
High-School Grad
110.5 sq mi
ZIP Area
63
Density / Sq Mi
$73,021
Median Household Income
$37,001
Median Earnings
$1,041
Median Rent
$246,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Lindsay’s CountrySide Senior AFC, LLC — 8155 Blackman Rd, Kingsley, MI 49649
Frequently Asked Questions
What type of property is this?
Assisted living facility - Licensed adult foster care property with accessible main-floor living, multiple common areas, and extensive on-site support space.
Where is this assisted living facility located?
The property is located at 8155 Blackman Road Kingsley, MI.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Licensed AFC property currently operating with a 6‑bed capacity; 5,800 square feet with 10 bedrooms and three living rooms; 9.97‑acre setting in Kingsley, MI
