Elder Care Facility. 40-bed facility. Each unit has a separate bath. Rooms are complete with furnishings. The facility has a full commercial kitchen, dining room, family lounge and visitation area. Functioning elevator and common laundry facilities.
• 40 beds with private bath upstairs
• Large Hallways, with handicapped accessible rails throughout
• Physical therapy room downstairs.
• Some rooms with sweeping views of Columbia River
• Full Commercial Kitchen with dining area
• Janitor’s closet off kitchen
• Coolers, Commercial Gas stove, and stainless steel equipment
• Family Lounge and visitation area
• Functional Elevator
• Common Laundry Facilities
• Five Administrative Offices
• Two Nursing Stations
• Two Physical Therapists Offices
• Three outdoor patios
• Friendly Family Feel
Sale Price: $999,000
Price / SF: $55.50
Lot Size: 0.75 Acres
Year Built: 1960
Building Size: 18,000 SF
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SOLDTech-8009: Assisted Living, Hospice, Rehab, and Palliative Care Facility for Sale in the North East
Elder Care Facility. 40-bed facility. Each unit has a separate bath. Rooms are complete with furnishings. The facility has a full commercial kitchen, dining room, family lounge, and visitation area. Functioning elevator and common laundry facilities.
This two-year-old 47-bed Elder Care Facility was developed by a Company that has over ten years of experience in providing in-home nursing and hospice care. The facility sits on a beautiful 40-acre property, and currently, has two buildings of 7,000 sq. ft. each for providing Elder Care. However, the owners have recognized the great potential that this property has if they expand into related services and bring Hospice care, Memory care, and Rehab facility on this campus.
The expansion will add three more buildings with additional 52,000 sq ft. of space so that the total space will be 66,000 sq ft and total patients and residents / patient population will jump to 145 patients. All of the approvals and preliminary drawings and plans are in place.
Currently, Company sends a significant portion of its resident population to outside Hospice and Rehab Care facilities and has done a thorough market study that demonstrates a need for this expansion in the area. The Company accepts all of the major insurance plans.
To make this vision a reality, the owners are looking to get a strategic partner who has the resources to carry out this vision. They are willing to sell a majority stake or all of the company. This presents a great opportunity for the buyer/partner, where a lot of the preliminary work has already been done and the expansion work can be started very soon.
The Company also has a sister division that provides skilled nursing services in patient homes and often brings in the clients from home services into the Elder Care / Assisted Living Facility. So this division can also be rolled into this offering. The Revenues of the sister division are about $1.2 million and the financials are combined for both.
– 2016 Revenue (projected from 11 months): US $2.1 million; EBITDA: US $130K
Note on Projections – projections below are based on completion of expansion plans – phase I and phase iI), and the full projections will be realized once the expansion is completed, which will be dependent on when the deal is completed).
– 2017 Projections: Revenue: US$ 5.5 million; Net Profit: US$ 3 million
– 2018 Projection: Revenue: US$ 15.7 million; Net Profit: US$ 6.3 million
– 2019 (projected 1 year after full expansion): US$ 16.2 million; Net Profit: US$12.6 million
– Appraised Price of the Business and Property (assisted living facility only: US$4.76 million (US$2.24 million for the business and US$2.52 million for the real estate)
– Estimated Cost of Expansion: US$12 million (the buyer should be able to provide this).
(Note: The projection assumes that the construction of expansion starting in early 2017. The company runs another division which provides nursing care for patients at home with a revenue of about $1.2 million and is synergistic with the assisted living business and can be also acquired. The price for that business is not factored into the above price)