SOLD! Assisted Care Living – Management & Staff in Place #15537

SOLD! Long Term Residential Assisted Care Living Home located in Central MA provides residents with a bed & breakfast like setting & atmosphere. Residents are supported 24-7 by medical management, direct care / daily living activities, and many other forms of day to day quality care administered and supervised by a highly skilled and trained staff.
The facility is always at capacity and has a waiting list! Revenues are in excess of $1M, and earnings are well above industry standards.
The business and property are being offered at a very attractive price of $4,000,000 and should have no problem complying with an SBA 7A & 504 financing program.
Furniture, Fixtures, & Equipment (FF&E): $750,000 Included in asking price
Inventory: $20,000 Included in asking price
Real Estate: $1,400,000 Included in Asking Price
Real Estate: Owned / Included in asking price
Facilities: The property consists of an approximately 16,710 total square feet, three story colonial style building that sits on approximately 0.73 acres. The property underwent a $983,000 6,400 sq. ft. expansion and renovation in 2012 which added 12 additional beds for a total of 34 beds. The project was considered necessary as constant requests for occupancy and other upgrades to the existing building made economic sense.
Competition: There are a few other Level IV Rest Homes within a 20 sq. mile radius. This business maintains full capacity and a long waiting list.
Growth & Expansion: The growth potential includes modest annual increases in the private pay daily rate. Current % of PP is 65%. Expansion may exist by the purchase of properties on either side of this business.
Reason for Selling: Retirement.