Business Overview:
A St. Louis Assisted Living Facility located in an upscale residential community. This facility offers its seniors personalized care in a home-like setting. The business opened its doors in a newly constructed building in 1990 and added a west wing in 1992. It has been under current seller’s ownership since 1996. There are 2 Independent Living beds located in an upstairs apartment, 10 licensed Memory Care beds in a secured west wing, and 20 licensed Assisted Living beds located on two halls in the main building totaling 32 beds in all. The financial history is excellent and the annual occupancy rates have been over 90% for the last 4 years.
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Property Features and Assets:
The facility is situated on 2.07 acres. The main building consists of 11,080 square feet and, also, has an extra-large detached garage with additional office and storage space. The 32 beds occupy 53.9% of the facility while the Common Area utilizes the remaining 46.1%. Resident space is broken down as follows: 1 Independent Living apartment with 2 beds (1,031 square feet), 14 Private Assisted Living units (184 square feet each), 3 Semi-private Assisted Living units (234 square feet each), 6 Private Memory Care units (201 square feet each), and 2 Semi-private Memory Care units (230 square feet each). Total Resident Area 5,975 square feet
Assets = $3,640,064.
Market Competition and Expansion:
There other facilities in the market area. However, there is not a saturation situation and demand for services is still quite strong.
With some modification, and the addition of two staff member, one wing of the facility could be devoted to memory care. This would allow for an increase in revenues. In addition, Seller has architectural plans for an addition wing to the facility utilizing the existing parcel of land.
Reason for Selling:
Seller wants to Retire.
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
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