Bull Realty is pleased to offer this 15-unit licensed Personal Care Home, including real estate and business, on 5.11 acres, with ability to add cottages, in Newnan, GA (Metro Atlanta). 95% + occupancy. Below market rental rates. In rent roll, there are 6 residents that may qualify for the Medicaid program CCSP averaging $2,829.00 to increase revenue.
The total demand is 132 Assisted Living units today growing to 164 in 2030 in the PMA, a24.2% increase. There is a total of 108 units with within the 5-mile PMA with 0 planned new units. As the model indicates, the Unmet Demand for Assisted Living units in the Newnan PMA totals 24 units growing to 56 units in 2030, an 133.3 % increase. Demographics for Age 75+ within the 5-mile radius are as follows: Average Household Income is $91,942, average net worth is $764,839, and average housing values are $373,742.
A sales price of $1,900,000 on a SBA 504 Loan with a 25-year term, 15% down payment, and 6.037% interest, results in the following, before tax on a 5-year hold:
-Projected Sales Price: $3,333,000
- Sales proceeds after disposition costs: $1,779,775
- IRR: 52.88%
- Acquisition CAP: 9.02%
- Cash on Cash: 13.8%
- Debt Service overage Ratio: 1.37