Overview
The Sohi Group is pleased to present to qualified investors 26030 Franklin Rd, Southfield, MI 48033—a vacant five-story building with 120 rooms and 52,285 sq. ft. of gross area.
Originally acquired as a hotel asset, the current owners identified senior housing as a high-potential redevelopment opportunity and have completed a market study, pro forma, and architectural plans supporting a senior living conversion.
This value-add opportunity allows a new owner to execute renovations and reposition the property as a specialized care facility to meet the growing demand for senior housing. Its prime location, favorable demographics, and flexible redevelopment potential make it an institutional-quality investment for private equity firms, senior living operators, and healthcare groups looking to expand their continuum of care.
Investment Highlights
Fully Entitled 82-Unit Memory Care Project:
A five-story, ~52,285 SF facility pre-entitled for a memory care center with 82 units (92 beds). All necessary entitlements and approvals are in place.
Prime Location & Demographics:
Located in Southfield—Oakland County’s central hub—with convenient access to I‑696, M‑10, and top medical centers. The senior population here is 21.6%, significantly above the national 16.8%.
Growing Market Demand:
Metro Detroit is experiencing heightened demand for assisted living/memory care driven by the aging baby boomer cohort. Michigan’s 65+ population is projected to grow about 16% from 2022 to 2030.
Competitive Mid-Market Pricing:
Silverfern Southfield offers a pricing model of ~$4,000–$4,500 per unit per month, aligning with Detroit area averages and delivering a strong competitive advantage.
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