Assisted Living Facility with Commercial
9334 River, Algonac, MI 48001
For Sale
$1,950,000
A 24-bedroom care property features group gathering areas, laundry facilities, and a furnished banquet hall.
Property Size25,000 SF
Lot Size2.70 Acres
Price / SF$78
Days on Market508
Property Features for 9334 River
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Property Condition
Severity
Evidence
Amenities
commercial kitchen
walk-in cooler and freezer
LED lighting
day room with fireplace
furnished banquet hall
adjacent patio
individual HVAC controls
full laundry facility
salon/barber room
solid-core doors
sound-resistant concrete second floor
ADA accessible areas
epoxy-finished floors
2 sump pumps
2x6 staggered insulated walls
slate tile and hardwood floors
front desk
welcoming lobby
Security Lighting
Listing Agency:
Realty Executives Home Towne
(586) 726-4600
Listed By:
Jennifer Stanczak
(586) 344-8311
Source:
Jabachler
Added: Jun 24, 2025
Changed: Nov 11
Last Checked: Nov 12 at 10:19PM
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 Realty Executives Home Towne
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Investment Insights
Based on property information with market context.
Set on 2.7 acres, this 25,000-square-foot assisted living facility has 24 private bedrooms, a day room with a fireplace, and a furnished banquet hall with an adjoining patio. The commercial kitchen includes a walk-in cooler, freezer, and equipment. Other improvements include a laundry room, salon, lobby, and areas with ADA access. Individual HVAC controls serve the bedrooms, and the building has three staircases and a concrete second floor designed to reduce sound transmission.
A three-car garage has an unfinished 1,000-square-foot apartment above it, roughed in for two bedrooms, two baths, and a kitchen/lounge. Mechanical systems include two 500,000 BTU Lochinvar boilers and a hot-water system with two 119-gallon reserve tanks. The property is on the Blue Water bus line, with a walking and biking path to Algonac State Park; downtown Algonac and Marine City are nearby.
A three-car garage has an unfinished 1,000-square-foot apartment above it, roughed in for two bedrooms, two baths, and a kitchen/lounge. Mechanical systems include two 500,000 BTU Lochinvar boilers and a hot-water system with two 119-gallon reserve tanks. The property is on the Blue Water bus line, with a walking and biking path to Algonac State Park; downtown Algonac and Marine City are nearby.
Key Highlights
- 24 private bedrooms in a 25,000‑square‑foot facility on 2.7 acres
- Commercial kitchen with walk‑in cooler, freezer, and equipment
- Furnished banquet hall with adjacent patio; day room includes a fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$154,620
Cap Rate
7.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,092,400
$3.1M
Cap Rate 7%
$2,208,857
$2.2M
Cap Rate 9%
$1,718,000
$1.7M
Market Conditions
NOI Build-Up for 25,000 SF
Gross rent
$300.0K $12.00/SF
− Vacancy
−$42.3K −$1.69/SF
EGI
$257.7K $10.31/SF
− OpEx
−$103.1K −$4.12/SF
NOI
$154.6K $6.18/SF
Area
St. Clair County, MI
Vacancy
14.10%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,092,400
Cap Rate 7%
$2,208,857
Cap Rate 9%
$1,718,000
Alternative Uses
Best Use
Apartment 5plus
$17.31M
$15.14M – $20.19M
NOI $1,211,364 @ 7.0% cap
Second Best
Healthcare Medical
$2.21M
$1.93M – $2.58M
NOI $154,620 @ 7.0% cap · market cap 7.93%
Theoretical Best
Multifamily LT 5
$18.79M
$16.44M – $21.93M
NOI $1,315,591 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
84
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48001, MI
11,721
Population
5,787
Households
2
Avg Household Size
50
Median Age
18%
College-Educated
94%
High-School Grad
19.0 sq mi
ZIP Area
617
Density / Sq Mi
$64,538
Median Household Income
$35,987
Median Earnings
$921
Median Rent
$250,000
Median Home Value
Frequently Asked Questions
What type of property is this?
Assisted living facility - A 24-bedroom care property features group gathering areas, laundry facilities, and a furnished banquet hall.
Where is this assisted living facility located?
The property is located at 9334 River Algonac, MI.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 24 private bedrooms in a 25,000‑square‑foot facility on 2.7 acres; Commercial kitchen with walk‑in cooler, freezer, and equipment; Furnished banquet hall with adjacent patio; day room includes a fireplace
