Hilltop of Novi Assisted Living

Special Purpose for Sale
Catylist Listing ID: 30761608
Property Subtypes: Senior Housing
Building Status: Under Construction
Building Size (RSF): 44,288 SF
Gross Land Area: 4.60 Acres
Sale Price: $6,500,000
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Other
Cap Rate: Undisclosed
Last Updated: 10/22/2021

Overview / Comments

This unfinished development was originally approved as a hotel in late 2018. While under construction due to the Covid Pandemic, the original plan was approved to change the use from hotel to assisted living facility. The number of rooms was reduced from 98 to 85. The number of rooms can be reduced further to increase the size of some of the units. The common lobby, dinning, and activity room has 2,635 sq. ft. It has 2 elevators.

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Oakland
Submarket/Township: Central I-96 Corridor
Tax ID/APN: 22-12-200-041
Zoning: OST- OFFICE SERVICE TECH.
Property Located Between: M-5/ 13 Mile Rd. SE Corner
Total Number of Buildings: 1
Number of Stories: 4
Typical SF / Floor: 11,072 SF
Year Built: 2020
Roof Type: Other
Construction/Siding: Brick, Wood Frame
Exterior Description: Split Face/Fibre Cement
Parking Description: 91 Parking Spaces
Sprinklers: Wet
Heat Source: Other
Air Conditioning: Other

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,939 75,038 205,708
Median Age: 43.43 42.23 41.99
Households: 4,479 31,384 84,724

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