402 Rustic DrMadison, WI 53718

Property Details for 402 Rustic Dr

Year built

2001

Lot size

1.17 AC

Property size (Sq ft)

6,154 SF

Zone code

SR-C1

Property type

Healthcare properties

Property subtype

Assisted living facilities

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,086,176

  6.5%

  $1,002,624

  7%

  $931,008

• Comparable approach

  Method

  Valuation

  Relative Method

  $718,490

  Geo Method

  $921,792

• Alternative Use

  Use

  Valuation

  Residential

  $1,271,871

  Hospitality

  $1,165,027

  Educational

  $969,289

  Medical

  $1,002,624

  Retail

  $1,507,783

Location Insight

City

Madison

County

Dane

State

Wisconsin

Latitude

43.0934

Longitude

-89.2711

CBSA code

31540

CBSA name

MADISON, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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