POTENTIAL SUBSTANCE ABUSE TREATMENT FACILITY CONVERSION WITH EQUINE-ASSISTED THERAPY (EAT).
Bull Realty is pleased to present this facility that is currently an active licensed 48-bed personal care home built in 2002 on an ±18.16-acre campus with Horse Barn. The facility is comprised of three main buildings totaling ±56,178 SF, three storage buildings totaling ±1,052 SF, and one barn totaling ±1,140 SF. The property is located in the Atlanta bedroom community of historic Jackson, Georgia. The property has two residential buildings totaling 42 suites with direct access to a bathroom, which could be licensed for 84 beds (at 60 SF per double occupant for a Drug Treatment Facility.) Each residential building has its own kitchen and dining room. All utilities and septic are on site.
R-4 Zoning has an approved use as Intermediate Care Home which admits residents on medical referral. It maintains the services and facilities for institutional care and has a satisfactory agreement with a physician who will provide continuing supervision including emergencies and complies with chapter 290-5-9: Intermediate Care Homes (Rules of the Georgia Department of Human Resources). Requires county verification.
The facility, currently licensed as a personal care home with 60% occupancy, is located 39.6 miles from the Atlanta Airport. From CoStar last 12 months, MSA Behavioral conversions sold vacant for an average of $570.81/SF. Weitz reports 2025 assisted living construction will average $353 per SF replacement cost without land, land prep, and architect fees for the existing facility. The CoStar average price per acre in Butts County is $283,591per acre.
SBA 504 Loan Assumptions: 25-year term, 85% LTC, and 6.037% interest
• Demographics (30-Mile Radius): Average household income is $95,488. Average net worth is $950,309.
• Average home values is $307,999
FINANCIAL RETURNS
Before Tax 5-Year Hold Financial Returns:
• (a) Projected Sales Price: $28,435,000
• (b) IRR: 164.66%
• (c) Cash on Cash: 82.31%
• (d) DSCR: 3.13
• (e) % Occupancy Break-even: 30%. See Investment Analysis