For Sale
$1,495,000

402 Rustic Dr Madison, WI 53718

10-Bed Adult Family Home, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
138
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.

Highlights

  • $1,495,000 asking price for this 10,456 square foot senior living facility.
  • 9,771 square feet of net rentable space, resulting in a price per square foot of $142.98.
  • 12.11% cap rate with a current NOI of $181,106.
  • 40% occupancy rate across 8 units, totaling 10 bedrooms.
  • Located on a 1.17-acre lot at 402 Rustic Dr, Madison, WI 53718, built in 2001.

Property Details for 402 Rustic Dr

Property type
Retirement homes
Square Feet
10,456 SF
Year Built
2001
Buildings
1
Stories
1
Lot Size (sq. ft)
50,965 SF
Units
8

Location Insight

City
Madison
County
Dane
State
Wisconsin
Latitude
43.0934442
Longitude
-89.2712084

FAQs

What type of property is this?
Retirement home - 10-Bed Adult Family Home, High ROI
Where is the retirement home located?
The property is located at 402 Rustic Dr Madison, WI.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: $1,495,000 asking price for this 10,456 square foot senior living facility.; 9,771 square feet of net rentable space, resulting in a price per square foot of $142.98.; 12.11% cap rate with a current NOI of $181,106.
How can I contact the broker?
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402 Rustic Dr
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