Assisted Living Facility For Sale Turn Key Ready | 24 units/rooms

Special Purpose for Sale
Call for Offers
Catylist Listing ID: 30823111
Property Subtypes: Senior Housing
Building Size (RSF): 18,288 SF
Gross Land Area: 5.27 Acres
Sale Price: $1,999,000
Property Use Type: Investment
Usable Size (USF): 182,888 SF
Sale Terms: Cash to Seller, Other
Call for Offers: Yes
Cap Rate: Undisclosed
Last Updated: 11/23/2022

Overview / Comments

Atmore, AL- NEW PRICE! RARELY available, Turn-Key, Stabilized Assisted Living Facility! Motivated seller is willing to look at offers. The Summit of Atmore is an 18,288+/- sq.ft., single-level structure on a 5.27+/- acre site with 25 parking spaces. The seller has provided a 2018 appraisal showing $2,850,000 for your viewing. The building consists of 24 units/rooms with 28 beds and offers residents 4 types of rooms in a semi-private or private setting. Included in the sale are all fixtures, furnishings, and equipment. A large, natural gas generator cuts on in 6 seconds and is tested weekly with a log kept on it. All electrical equipment has been updated to hospital electrical. The seller is selling the building and will continue to lease out the building on a long-term lease. This is an assisted living facility for sale. The Summit is an outside group that would like to continue to operate in this space.

The total demand is 322 Assisted Living units today growing to 421 in 2026 in the PMA, a 30.74% increase. The above-average occupancy rate of 67% at this facility is attributed to the 24-hr staff assistance, medication assistance, housekeeping & laundry services, and transportation to local doctor's appointments & shopping allowing for maximum functionality and affording residents a sense of independence.

The community layout is a one-story assisted living residence with entry located on the north side of the improvements. From above, the building has an "H" shape design with 2 parallel hallways connected by a central common area. The central common area includes the main dining room, sitting area with a large fireplace, kitchen, offices, and activity areas. Resident halls are identical with 12 units lining either side of each unit. At the rear of the community is a covered patio and courtyard with a woodland view. The site is comprised of two parcels, is irregular in shape and its terrain is level. Characteristics include 330 ft of road frontage on McRae St which is a 2-way paved road, paved drives, walkways, landscaping, and site signage.

The Summit has a wonderful central location, with medical offices, hospitals, grocery stores, shopping, and banks all within convenient proximity. Residents can enjoy individual privacy, or socialize with others during the three meals served daily in a family-style setting in the dining room, or one of the activities from a complete activity program. Additional amenities include: licensed nurse on-site 7 days a week, a Dietary Specialist, Respite care, high-speed internet, and basic utilities. Each room has a kitchenette, 32-inch flat-screen TV with cable access, telephone access, an individual thermostat, ample closet space, storage spaces, and a private bath. All bathrooms have an easy access shower, 24-hr night light and grab bars.

The Summit of Atmore offers both long-term assisted living and short-term respite care and continues to exhibit strong performance by consistently increasing occupancy over the trailing months. This established community offers investors the ability to purchase an exceptional value-add property with opportunistic returns. Financial will be provided once a letter of approval is presented.

Additional Details

Nearest MSA: Atmore
County: Escambia
Taxing Authority: Escambia, AL
Tax ID/APN: 302609322010017.011 & 302609322010017.004
Zoning: B-2 GENERAL BUSINESS
Property Located Between: S Main St & S Presley St
Property Visibility: Excellent
Largest Nearby Street: S Main St
Feet of Frontage: 330
Traffic/Vehicle Count: 6,019
Highway Access: Hwy 21/S Main St- 0.6 miles; Hwy 97- 1 mile; Hwy 31- 1 mile; I-65- 7 miles; I-10- 40 miles
Airports: Atmore Municipal- 3 miles; Pensacola International- 46 miles; Mobile Regional- 61 miles
Site Description: Level. Lot dimensions: 330x590x285x160x100x527x51x250. Private and beautifully wooded setting with enough acreage to expand. Convenient location near downtown, doctors' offices, and grocery stores. Good visibility. Easy to maintain landscaping.
Area Description: The largest city in Escambia County, Atmore's continued development keeps bringing in more growing businesses, new residences and opportunities for current citizens. Home to a wide range of industries that have grown over the years including agriculture, timber, textiles,metal fabrication, and communication companies. City leaders take a proactive approach to industrial recruitment by adding and selling buildings at the 150-acre Industrial Park, along with creating the Rivercane Development.The City of Atmore works in conjunction with the Atmore Area Chamber of Commerce, the Escambia County Industrial Development Authority, and the Coastal Gateway Regional Economic Development Alliance to attract new business and industry to the area while pursuing marketing strategies which promote the growth of our community and its existing industries. The City and Chamber are also working on beautification and hometown pride initiatives to enhance the downtown business district, as well as commercial and industrial properties.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 18,288 SF
Property Condition: Good
Year Built: 2015
Roof Type: Gable
Construction/Siding: Brick
Exterior Description: Foundation Type: Concrete slab Structure Type: Wood Frame Roof Type: Gable Exterior Wall Finish: Siding with Brick Veneer
Parking Ratio: 1.4 (per 1000 SF)
Parking Type: Surface
Parking Description: 25 spaces. Paved parking lot
Sprinklers: Other
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Other
Interior Description: Interior Partitions ? Common Areas: Latex paint over drywall Interior Partitions ? Resident Units: Latex paint over drywall Ceilings ? Common Areas: Latex paint over drywall Ceilings ? Resident Units: Latex paint over drywall Lighting ? Common Areas: Incandescent and Fluorescent
Zoning Description: B-2 General Business District. Intended to provide opportunity for activities causing noise and heavy traffic, not considered compatible in the more restrictive business district. These uses also serve a regional as well as a local market and require location in proximity to major transportation routes. Recreational vehicle parks, very light production and processing activities are included.
Lot Frontage: 330
Lot Depth: 777
Water Service: Municipal
Sewer Type: Municipal
Legal Description: (2) Parcels: 302609322010017.011 & 302609322010017.004

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,510 5,662 10,705
Median Age: 37.94 35.36 37.81
Households: 656 2,318 4,301

Contact

Photograph of Listing Agent

Patty Helton-Davis

PHD Realty, LLC. Gulf Coast CMLS Member
© Copyright 2001-2022 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Gulf Coast CMLS nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.