Urban Assisted Living Facility

For Sale

 

Location Map
  • Brokers:
    Name
    Barbara Kline
    Email
    barbara@go-absolute.net
    Phone
    5057206593
  • Address: Central NM
  • Property Status: Active
  • Sale Pricing: $2,420,000
  • Property Information:
    Size
    +/- 14,700 SF
    Property Description:

    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 an 80-90% occupancy rate. Architectural plans and city permits have been approved renovating the second half of the building, which will add another 20 rooms, for a total of 40. Projected cost to complete the build-out is $800,000 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 40-room facility are projected at $1,632,000 with an NOI of $932,528. At 85% capacity, NOI is projected to be $700,688.

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