Property profile

15751 Joy Rd Detroit, MI 48228

OFF-MARKET
Assisted living facilities
Property ID
US43-1844944
8,971 SF 2 ac lot Built 1957
Entity Owned Free & Clear
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Property summary

AI-generated overview

The property is a mixed-use residential/office building totaling over 11,000 square feet, situated on a fully fenced 2-acre lot in Detroit, Michigan. It includes multiple outbuildings and garages and is supported by a slate entry foyer that opens to a living room with a fireplace. The property features a fire suppression system, camera surveillance system, and computer wiring, along with a full house generator and in-ground sprinklers for the front yard. Interior layout includes 16 bedrooms, 4 full baths and 2 half baths, a separate office space, and a finished basement, with additional space suitable for a variety of uses. Building and system updates have been made within approximately the last 10–12 years, including improvements to the boiler and roof, office spaces, and some bedrooms. The kitchen area includes a commercial kitchen with a walk-in freezer. Exterior and recreation amenities include a picnic area, gazebo, basketball court, playground with equipment, and approximately 30 parking spaces accessed via an electric gate with remote control. The property also provides ample storage.

Property profile

Verified
Property type Assisted living facilities
Use group HOMES (RETIRED, NURSING)
Year built 1957
Total area 8,971 SF
Lot 2 ac (87,120 SF)
Zoning code M4
APN 22002285.003
UPID US43-1844944

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Charitable Organization Social Service Agency
  • Charitable Organization Social Service Agency

Location

15751 Joy Rd Detroit, MI 48228-2117
Detroit metro Census 547200 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
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Value estimations

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Owner & transaction history

Zoning & alternative use

M4 · Detroit, MI
Zoning description

ff. 5-28-2005) Sec. 50-7-4. - Industrial Districts. Industrial districts within the City are as follows: (1) M1 Limited Industrial District. (2) M2 Restricted Industrial District. (3) M3 General Industrial District. (4)…

General category INDUSTRIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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