1141 Corinth Rd - Senior Housing FOR SALE


Newnan, GA 30263
$2,100,000 USD
678-283-0136
1141 Corinth Rd, Newnan, GA for Sale
$2,100,000 USD
Senior Housing - FOR SALE
1/16
null | Request Cap Rate

1141 Corinth Rd
Newnan, GA 30263


HIGHLIGHTS

  • 90% + Occupancy
  • 15 Units licensed personal care home | Can double unit count by turning L-shaped building into U-shaped building.
  • Includes both real estate and business
  • Zoned RC | 5.11 Acres also allows for an additional building
  • Qualifies for SBA 504 Loan: 25-year term, 15% down payment, and 6.37% interest
  • Potential Yields: 52.3% IRR, 13.8% Cash on Cash return, and 1.37 DSCR

OVERVIEW

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

FOR SALE DETAILS

PRICE

$2,100,000 USD

PRICE/SF

$377 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

90% + Occupied Personal Care Home

PROPERTY TYPE

Health Care

PROPERTY SUBTYPE

Senior Housing

ADD'L SUBTYPES

Assisted Living

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1991

SPRINKLERS

-

PARKING SPACES

9

LAND DETAILS

LAND ACRES

4.22 AC

LAND SF

183,637 SF

ZONING

RC

APN/PARCEL ID

076-2074-023

ASK ABOUT THIS PROPERTY

Ernie Anaya, MBABull Realty Inc.More Info
678-283-0136

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Ernie Anaya, MBABull Realty Inc.More Info
678-283-0136

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.