Catylist ID: #30515586
Price Reduced! Urban Assisted Living Business
Undisclosed Address, New Mexico
Business Opportunity for Sale
|Catylist Listing ID:||30515586|
|Property Subtypes:||Health and Medical|
|Building Size (RSF):||14,700 SF|
|Year Business Established:||2015|
|Gross Revenue:||$0 (Annual)|
|Cash Flow:||$0 (Annual)|
|Sale Terms:||Cash, possibility of some owner financing|
Overview / Comments
Fully-operational assisted living facility opened in 2016 with 10 rooms. An additional 10 rooms were built out in 2018, with the facility occupying +/- 8,000 sf of the building. The facility has a 90%+ occupancy rate. Architectural plans and city permits have been approved renovating the second half of the building, which will add another 20 beds, for a total of 40. Projected cost to complete the build-out is $1,000,000 and will result in 16,000 sf of useable space.
This facility is built out with higher end materials and has a fully equipped commercial kitchen and multiple common areas with partial kitchens for snacking.
Annual Gross Revenues (at 100% occupancy) for the 45-room facility are projected at $1,632,000 with an NOI of $932,528. At 85% capacity, NOI is projected to be $700,688.
This is an asset sale. Owner willing to discuss partial owner financing.
Attachments & Media
|Industry Segment:||Long-Term Care Facilities|
|Reason for Selling:||Owners are pursing other interests.|
|Value of Inventory Included ($):||$0|
|Value of Furniture, Fixtures, and Equipment ($):||$0|
|Real Estate Status:||Real Property|
|Value of Real Estate Included ($):||$1,530,400|
|Growth/Expansion Opportunities:||A recent article by Kimberly Fowler on AssistedLiving.com notes that a recent Nielsen marketing report states that just a few years, adults over the age of 50, will control 70% of the nation’s disposable income. These aging Boomers are looking for quality and experience as they downsize into senior living and assisted living facilities, and many have the money to afford what they want. This assisted living package comprises a 14,700 sf facility that is being renovated to provide exceptional living accommodations for those in need of short- or long-term assisted living arrangements. The owners have done the heavy lifting in building out the facility, staffing it and attracting tenants. They are looking for new owners to step in to take over the smoothly running facility and expand at will. Income after completion of the building out is projected to be between $700K and $935K with a CAP rate of 2.6-4.2. In a few short years, the owners have renovated and filled 20 rooms, each with a private ADA bath. Nicely appointed rooms, commercial kitchen, common areas including a second snack kitchen, and multiple amenities make this an attractive choice. Plans to complete the renovation of the building and double the number of beds have been approved and permitted.|
Barbara KlineAbsolute Investment Realty CARNM CIE Member
Alfredo BarrenecheaAbsolute Investment Realty CARNM CIE Member
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