Business For Sale

Business for Sale Overview:

These two "Adult Assisted Living Homes" are licensed for 10 residents each. One home is 2,956 square feet, built in 1999 and is currently operating with 6 residents. The second home is 3,760 square feet and is currently operating with 10 residents. Revenues for 2007 are misleading because the smaller home built in 1999 was only licensed for 8 residents until the first quarter of 2008. The Owner of the two homes has chosen not to be a Pima County (Tucson Area) Provider. The Owner's lack of marketing and choosing not to participate in the Pima County Referral Program is attributed to the shortfall in occupancy from the Licensed Capacity. Revenues will increase based upon the inclusion of being a Pima County Provider and by joining the additional referral service networks. Revenues per resident are low based upon the Owner’s estimation of the value of the homes’ services. The Owner is truly behind the times in its fee structure to its residents. This business is well established in the community and provides a phenomenal service to its residents. The Real Estate on which the homes are located is included in the Purchase Price. Real Estate Value: At the end of August, 2008, the Seller had both homes evaluated by a Licensed Residential Appraiser. On a residential appraisal basis, both homes were valued at $900,000.00 in the aggregate by the Licensed Residential Appraiser (these formal appraisals are available to Qualified Purchasers). For the purpose of this offering, the Seller has added $90,000.00 or 10% to the Formal Appraisals. The Seller and the Broker have been told that Adult Care Facilities such as the ones being offered herein carry a 10% to 20% premium over their residential appraisal value. This is the case since they have been updated for increased fire code compliance, larger hallways, handicap bathroom accessibility and other features required by the State of Arizona. Disclosure: This business is being marketed for sale by Michael C. Abbinante, of Abbinante & Co. Michael C. Abbinante is a licensed real estate broker in the State of Arizona.

For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.

Property Features and Assets:

Centrally located, the two homes are located on adjoining lots in a very nice residential area with nearby newer constructed homes populating a majority of the landscape. Ample parking (6 to 7 spaces) is available on a concrete paved lot in front of the two homes. Both homes have been updated with safety features to meet its residents’ needs. One home has been updated with a sprinkler system throughout the structure. The other home under current regulations will have to be sprinklered within the next two years. Living areas are clean, functional, spacious and very accommodating. Securely walled and gated. Connected by walkways, the property is surrounded by mature landscaping, fenced pool, outdoor built-in BBQ and plenty of storage. There is a separate living/work quarters for the Owner and a Pool House, which can serve as additional living quarters for employees, a manager or visiting family members of a resident.

Market Competition and Expansion:

Revenues can be increased due to the Licensed Capacity in one of the homes being raised in the first quarter of 2008 from 8 to now 10 residents. The purchaser can also become a Pima County Provider and join the additional referral service networks to reach Licensed Capacity. Revenues per resident are low based on what is being charged by other Homes. The Owner is truly behind the times in its fee structure to its residents.

Reason for Selling:

Owner is 86 years old.

Additional Details: