22 Madras Pky - Assisted Livings FOR SALE


Newnan, GA 30263
$1,950,000 USD
678-283-0136
22 Madras Pky, Newnan, GA for Sale
$1,950,000 USD
Assisted Livings - FOR SALE
1/26
null | Request Cap Rate

22 Madras Pky
Newnan, GA 30263


HIGHLIGHTS

  • ±8,878 SF property is suited for healthcare of senior housing facility purposes with 12 units or 24 beds docuble occupancy
  • Located on the corner of Madras Parkway and GA 29
  • Population to Physician Ratio is 2,206 to 1 in Primary Market Area versus 319 to 1 average US ratio
  • The average net worth for the PMA is over $1.56 million per household. Potential Total Available Market (TAM) is $175 million year
  • Seller will offer a credit to convert present Kitchenette to a professional kitchen
  • Plans to Connect Madras Parkway to I-85 with traffic count of over 70,000 cars per day

OVERVIEW

Patient rooms could be converted into exam and treatment rooms in a clinic or urgent care center setting. Market anaysis as an Urgent Care Clinic shows a potential clinic. There is a significant need for physicians, the 5- mile PMA ratio is 2,205 population to 1 physician whereas the average US ratio is 319 population per 1 phycisian. The average net worth for the PMA is over $1.56 million per household. Potential Total Available Market (TAM) is $175 million year. And, the dead-end Madras Parkway is being expanded by Coweta County to connect to I-85 with over 76,000 cars per day. The property is located in the corner of Madras Parkway and GA 29. This ±8,878 SF property is immediately available and located in the area of Newnan, GA. This 12-unit healthcare facility was recently built in 2009 and zoned R-C (Rural Conservation.) Seller will support rezoning or Special Use Permit application. Originally built as a hospice, with special use permit, the property is also suited for other senior housing and medical uses such as a clinic or urgent care center requiring zoning approval. This facility includes fully operational medical areas including a medication room, medical waste room and nurses' work room. The 12 patient quarters are suitable for double occupancy; each room contains a living area and a shared bathroom arrangement with shower, commode and sink. Gas-powered generator, sprinkler, video cameras. Property amenities also include a reception area, conference room, chapel, kitchenette and laundry room. Septic tank just replaced with sewer connection ($50,000 cost). Property Qualifies for a SBA 504 Loan with 25-year term, 85% LTC, and interest rate just below 6%.

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$220 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Healthcare | Potential Owner Financing

PROPERTY TYPE

Health Care

PROPERTY SUBTYPE

Assisted Livings

ADD'L SUBTYPES

Congregate Senior Housing, Hospital, Rehabilitation Center

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2009

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.68 AC

LAND SF

116,741 SF

ZONING

R-C

APN/PARCEL ID

084-5140-007A

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.