402 Rustic Dr Madison, WI 53718-6591
- Assisted living facilities
- 6,154 SF
- 1.17 lot acres
Feb 12, 2025
Current Use by Public Records
- Emerson Senior Living / Assisted Living Facility
Property Details for 402 Rustic Dr
- Year built
- 2001
- Lot size
- 1.17 lot acres
- Property size
- 6,154 SF
- Zone code
- SR-C1
- Property type
- Assisted living facilities
- Property subtype
- Retirement homes
- APN
- 0710-024-0192-6
- APU
- 71002401926
Description
This exceptional 10,456 square foot senior living facility in Madison, Wisconsin, presents a compelling investment opportunity. Currently operating as a licensed adult family home with 40% occupancy, the property boasts 8 units, including 10 bedrooms and 9.5 bathrooms. The main floor features five studio suites, each equipped with a kitchenette, a fully accessible private bathroom, and individual HVAC systems. Additional amenities include a private office, an open floor plan, a large kitchen with a walk-in pantry, and three additional main floor bedrooms with three full baths. Two rooms share a Jack-and-Jill bathroom, while one suite offers a full kitchen, stubbed shower/toilet, and his-and-hers walk-in closets. A third bedroom has an adjacent bathroom. The finished lower level includes a bedroom, kitchen, living room with a three-sided fireplace, and a separate entrance from the garage. Two additional rooms with closets are present, though not legally classified as bedrooms. Exterior features include a screened porch, ADA-compliant ramps, and a basketball court. The property sits on a 1.17-acre lot, zoned SR-C1, and was built in 2001. The asking price is $1,495,000, representing a price per square foot of $142.98 and a price per bed of $149,500. The property generates a Net Operating Income (NOI) of $181,106, yielding a strong 12.11% cap rate. Seller financing is available. This property offers significant potential for increased occupancy and revenue. The 9,771 square feet of net rentable space provides ample room for expansion or modification to meet market demands. This is a rare opportunity to acquire a well-established senior living facility with substantial upside potential in a desirable Madison location.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,125,000
- ML approach
- $1,185,000
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Location Insight
- Map
- Local Demand
- City
- Madison
- County
- Dane
- State
- Wisconsin
- Longitude
- -89.2711
- Latitude
- 43.0934
- CBSA code
- 31540
- CBSA name
- MADISON, WI METROPOLITAN STATISTICAL AREA
