307 Broadway St Middleville, MI 49333
- Investment properties
- 2,000 SF
- 0.40 lot acres
Current Use by Public Records
- Investment properties
Property Details for 307 Broadway St
- Year built
- 1962
- Lot size
- 0.40 lot acres
- Property size
- 2,000 SF
- Property type
- Investment properties
Description
This thriving adult foster care home in Middleville, MI, presents a unique investment opportunity. Located at 307 S Broadway, this property boasts a substantial 2,000 square foot building situated on a 0.4-acre lot. Currently licensed and operating, the home comfortably accommodates eight residents, each paying a monthly rate of $1,200. The existing infrastructure allows for expansion, with the capacity to increase occupancy to twelve residents. The property features two parcels of land, providing ample space and potential for future development. The interior layout includes seven bedrooms and 2.5 bathrooms upstairs, one full bathroom downstairs, and an additional three bedrooms in the basement. This provides ample space for residents and staff. The seller is offering training to ensure a smooth transition for the new owners. Financial records indicate monthly expenses ranging from $6,000 to $7,000, resulting in monthly profits between $2,000 and $3,000. Showings are available Monday through Friday, from 11 AM to 4 PM, with a 24-hour notice required. The asking price for this established and profitable business is $285,000. All information should be independently verified by the buyer.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Middleville
- County
- Barry
- State
- Michigan
- Longitude
- -85.46968
- Latitude
- 42.70888
