Operating 40 Bed Senior Memory Care Facility with Fully Entitled Zoning Approvals in Place to Expand Up to 76 Beds
Appraised at $3,000,000 in December 2021
40-Bed Operating Facility with Tremendous Upside Including Fully Entitled Zoning Approvals for an Expansion Up to 76 Beds Already in Place
Zoned Planned Unit Development (PUD)
Resident Rooms Range in Size From +/- 106-276 Square Feet
University Town; Located amongst several colleges including Central Michigan University
NOTE: SEE HISTORICAL AND CURRENT NET OPERATING INCOME NUMBERS THROUGH MAY 2022 IN FINANCIAL SECTION OF PROPERTY INFORMATION PACKAGE
This operating Senior Memory Care Facility is a unique investment opportunity that rarely presents itself through an auction offering. The 40-bed facility is a turnkey operation consisting of 40 beds on a +/- 2.23 acre site, plus an adjacent +/- 5 acres for future senior living expansion or other development, including multi-family residential, child care centers, office and hotels, subject to Township approval. The facility's location provides good accessibility to proximate medical facilities and other accessible transportation corridors. Also compelling are the fully entitled zoning approvals already in place to expand to up to 76 beds which will improve marketability and allow further economies of scale. The facility has been well maintained and offers a modern aesthetic.
+/- 7.23 acres
+/- 14,694 square feet
Building 1 Built in 1984; Building 2 Built in 1988
PUD (Planned Unit Development)
2021 Annual Taxes:
$28,611.22 (Facility); $5,556.75 (5 AC)
Note: Licensing may be achieved through the acquisition of the membership interests in the related operating company affiliated with the seller, but licensing will not be a condition to closing and will be the sole responsibility of the buyer.
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