37703 Joy Rd Westland, MI 48185-1081
- Day care centers
- 4,699 SF
- 0.61 lot acres
Dec 23, 2024
Current Use by Public Records
- Habitot Montessori and Childcare Center / Montessori School / Child Care Agency
Property Details for 37703 Joy Rd
- Year built
- 1979
- Lot size
- 0.61 lot acres
- Property size
- 4,699 SF
- Property type
- Day care centers
- APN
- 56 021 99 0001 006
- APU
- 56021990001006
Description
This exceptional investment opportunity presents a fully operational, state-licensed daycare center in Westland, Michigan. The 4,576 square foot facility, situated on a 0.61-acre lot, boasts a capacity for 94 children. The asking price is $800,000, representing a compelling $174.83 per square foot. The property's strong financial performance is highlighted by a projected NOI of $396,200 and a pro-forma cap rate of 33%. The sale includes all furniture, fixtures, and equipment (FFE), eliminating the need for significant upfront capital expenditures. Recent upgrades include a new roof and siding (2019), ensuring the building's long-term viability. Safety features include a sprinkler system and surveillance cameras. Conveniently located near Livonia, Plymouth, and Canton, the daycare benefits from a favorable demographic profile with strong median and average household incomes within a one-mile radius. The property's Class C designation and single tenancy structure offer simplicity and ease of management. The Wayne County location, with APN 56-021-99-0001-006, provides further identification. This is a turnkey operation ideal for owner-users seeking a high-return investment in a thriving childcare market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Westland
- County
- Wayne
- State
- Michigan
- Longitude
- -83.4134
- Latitude
- 42.3524
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
