Profitable Assisted Living with Big Private Pay Opportunity

VA

Profitable Assisted Living with Big Private Pay Opportunity
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Asking Price: $1,950,000

Cash Flow: $264,947

Gross Revenue: $728,544

EBITDA: N/A

FF&E: $10,000

Inventory: N/A

Real Estate: $600,000

Established: 1990

Profitable Assisted Living with Big Private Pay Opportunity

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Business Description

This very profitable Home has thrived serving primarily the AG community allowing it to be nearly full all the time. While there is a super strong market for this niche of residents, subtle improvements and changes would allow a new owner to move the home to private pay in the mid-range area of approximately $2,500 to $3,500/month. Keep in mind, there is also a serious lack of rooms in this price range. The current cash flow to the owner is in excess of $220,000 per year. Even if a third of the beds were moved to private pay at $2,500/month, the cash flow could conceivably increase by yet another $200K per year (16 x 1,100 x 12). If the new owner were to be an administrator-owner-operator, the profit would be unbelievable.

Detailed Information

Real Estate:
Owned
Included in asking price
Building SF:
27,000
Employees:
11 FT/4 PT
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
This a 50 plus bed facility. Roughly 27,000 square feet with brick veneer exterior and metal roof.
Competition:
There is a tremendous need for homes of all sizes for the aging population. Auxiliary Grant homes and mid-range private pay homes are in particular high demand.
Growth & Expansion:
t has already been pointed out that the easiest ways to grow would be for the owner to also be Administrator, secondly make some slight improvements to the facility (new paint, furnishings, etc) and there would be an attraction to more private pay residents. Lastly, a direct marketing approach would go a long ways towards bringing the higher paying private pay individuals into the facility. There is a high demand for the mid-level private pay in the Shenandoah Valley.
Support & Training:
Will train for 4 weeks @ $0 cost. Must be registered with the State of Virginia - Department of Social Services and employ a licensed Administrator.
Reason for Selling:
Owner desires to enjoy the fruits of his labor over all these years by retiring.
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Dick Halterman CPA

Business Listed By:
Richard (Dick) K. Halterman, 11

Murphy Business & Financial Corporation

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