Listing ID: 70220
Check out this outstanding CENTRAL FLORIDA Senior Care Opportunity about one hour (1hr+/-) North East of Tampa!!!. OWNER recently HIRED an ENGINEER and JUST GOT a Pre-Commitment from the Local County to increase the Occupancy from 20 to 100 Residents.This is an AFL/ LAND DEVEVELOPMENT play!! SELLER WILL FINANCE w/$1,000,000 at very reasonable terms. Loan can possibly be INTEREST ONLY for 1year and amortized over 30 years or 40years after that with a balloon in 10years. LOAN TERMS are NEGOTIABLE!! Currently the Land is ZONED for ASSISTED LIVING FACILITY-SENIOR CARE or RETREAT. The existing facility could be great for a seasoned medical professional,an investor seeking to own a Senior Care property, or a Corporation already in the Senior Care/Assisted Living Industry seeking to expand.This fabulous Estate on 11.5acres+/-was meticulously restored in 2008.The current owner invested about $750,000 in improvements. While the facility is currently fully occupied at an average rate of $5000 a month, the numbers over the past year or so have varied due to the impact of COVID 19. The facility has 8 “private pay” residents and is currently 100% occupied.THE EXISTING BUILDING is only 6000sqft+/-. Due to a WAITING LIST and the enormous DEMAND, the BUYER should be adequately funded and prepared to BUILD NEW STRUCTURES on the existing LAND within the 1st Year of ownership.This Opportunity is more about SCALABILITY as a Land/Assisted Living Facility EXPANSION than it is about the current Cash Flow. Therefore,this SALE is PRIMARILY more for LAND VALUE and scaled expansion of Senior Housing.The Seller, who is a medical professional, will stay on in transition with the new owner in a management consulting capacity for at LEAST 6 months after the CLOSING.
- Asking Price: $3,995,000
- Cash Flow: $150,000
- Gross Revenue: $400,000
- EBITDA: N/A
- FF&E: $200,000
- Inventory: N/A
- Inventory Included: N/A
- Established: 2007
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:6
- Furniture, Fixtures and Equipment:N/A
The meticulous estate is approximately 6000sqft+/-.Currently, the facility accomodates 8 seniors but there is an allowed capacity up to 20.
Seller will provide transitional training and support for up to 30days and will stay on as a consultant for up to an additional 3months.The details to be negotiated between the parties.
The competition is minimal and the demand is very high.The current owner has a waiting list and does no advertising.
Build additional buildings on the property and add more rooms.
The venture was founded in 2007, making the business 15 years old.
Why is the Current Owner Selling The Business?
There are all types of reasons why individuals decide to sell operating businesses. Nevertheless, the true reason and the one they say to you might be 2 entirely different things. As an example, they may say "I have a lot of various commitments" or "I am retiring". For many sellers, these reasons stand. But also, for some, these may just be excuses to attempt to hide the reality of altering demographics, increased competitors, recent reduction in incomes, or a variety of other factors. This is why it is extremely vital that you not count totally on a seller's word, but rather, utilize the vendor's solution along with your overall due diligence. This will paint an extra realistic image of the business's current circumstance.
Existing Debts and Future Obligations
If the current company is in debt, which lots of companies are, then you will certainly need to consider this when valuating/preparing your offer. Numerous operating businesses take out loans so as to cover things like stock, payroll, accounts payable, and so on. Keep in mind that occasionally this can imply that earnings margins are too small. Lots of businesses come under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may likewise be future commitments to take into consideration. There may be an outstanding lease on equipment or the structure where the business resides. The business might have existing agreements with vendors that need to be met or may lead to penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do operating businesses in the location bring in brand-new consumers? Most times, companies have repeat customers, which develop the core of their everyday earnings. Particular factors such as new competitors sprouting up around the area, roadway building, as well as staff turn over can impact repeat consumers and also negatively affect future incomes. One vital thing to consider is the placement of the business. Is it in an extremely trafficked shopping center, or is it hidden from the highway? Undoubtedly, the more people that see the business on a regular basis, the greater the chance to build a returning consumer base. A last thought is the basic area demographics. Is the business located in a largely populated city, or is it located on the edge of town? How might the local mean household earnings effect future earnings prospects?