Property details
NNN Assisted Living Facility For Sale, Southeast Region
Property Description
NNN Assisted Living Facility For Sale
Type: NNN (No landlord responsibilities).
Term: 20 years that will commence at closing.
Triple Net Monthly Rent: $10,000.
Options: 2 10-year renewals.
Rate Increase: 10% at each option.
Use: 20 resident assisted living facility.
Tenant: Franchisee operator.
Unlike large assisted living facilities that can have well over 200 residents creating a "hospital" like enviornment, this 20 unit facility is designed to look and feel like a real home. Residents are able to watch the staff prepare the home cooked meals and at times, in some states, participate in the cooking and the baking. Residents and families feel they are part of a normal, functioning home, with a familiar dining room table, front porch, and back yard. These are homes that fill with family and friends during special occasions, allowing all to take part in the activities and family environment.
This facility is a former hotel facility. The building was built in 2005 and is in very good condition. The original floor plan, 16 spacious two room suites, is well suited for the model. Typically, developments are all new construction, but this property has been approved due to its exceptional condition and location. Buyer responsible for commission.
Images
Highlights
- Status:
- Available
- Price:
- $1,600,000
- PSF:
- $98
- Cap Rate:
- 8.00%
- Rent Increases:
- 5% every 5 years
Property Information
- Building Size:
- 16,366 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Senior Housing
- Units/Spaces:
- 1
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Single Tenant NNN Medical
- Lease Type:
- NNN
- Lease Expiration:
- 12/31/2034
- Lease Remaining:
- 10.0 years
- Landlord Responsibilities:
- None - Absolute NNN
- Options:
- 2 10-year renewals
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.