Nursing Home (Orland) $125,000
GROSS OPERATING INCOME: $192,000
NET PROFIT: $120,000
DAYS / HOURS OPEN: Open 24 Hours
FULLTIME EMPLOYEES: 2
PART TIME EMPLOYEES 2
YEARS CURRENT OWNER: 14
HOURS OWNER WORKS: 40
INCLUSIONS: furnishings, logos, vendor lists, client updates
SQFT(SRC): 2,100
Perfect investment for those looking to grow their business in the elder care industry. With over $225,000 annual gross income, the new owner will be able to maximize the value of this investment. Home is currently licensed as a for profit residential care home for the elderly- selling the business is contingent on buying the property as well. Seller agrees to consult during the transition phase of buyer getting their own license.
This is the information I normally look at to determine if a business will be a fit for me. If I have to visit the businesses before I can receive this information, that will be a problem since I do not live in the area. The properties are clean and ready to sell with new HVACs, leased solar on Guilford, brand new hall bathrooms to meet ADA requirements.
Do not talk to the owner and employees.
No Co-op brokering.
The photo may not be an actual photo of the business.
NET PROFIT: $120,000
DAYS / HOURS OPEN: Open 24 Hours
FULLTIME EMPLOYEES: 2
PART TIME EMPLOYEES 2
YEARS CURRENT OWNER: 14
HOURS OWNER WORKS: 40
INCLUSIONS: furnishings, logos, vendor lists, client updates
SQFT(SRC): 2,100
Perfect investment for those looking to grow their business in the elder care industry. With over $225,000 annual gross income, the new owner will be able to maximize the value of this investment. Home is currently licensed as a for profit residential care home for the elderly- selling the business is contingent on buying the property as well. Seller agrees to consult during the transition phase of buyer getting their own license.
- What is their current occupancy? How many rooms and beds do they have? Currently at Walnut, they are 'full' with 5. The Walnut property is 4/2 with approx 2000 sq ft. Garage could be make into an additional room with hookups for water/electricity if desired for future expansion. Guilford has 2 tenants, therefore the lower price for the business. It's the largest home at ~2800 sq ft with 5/4 split. There's a bonus room in back of the garage that could be set up as an office, etc
- What is their pay mix (private pay, Medicare, Medicaid, etc.)? 100% private pay, no AL Waiver for MediCal, MediCare pays for tenants' medical issues. Average pay is $3500/mo with room to increase price with transition.
- What is their current operations structure? Total of 4 caregivers with owners providing most shifts
- What role does the seller have in the business? Sellers are current licensee, adm, and both husband and wife work as caregivers
- What roles or duties will need to be taken care of with a change in ownership? Probably expansion of caregivers; eventually a new adm. I can discuss the sellers staying on as PT adm for a designated amount of time.
- Are there any key staff members that plan on staying? ADM can stay, + at least 1 caregiver
- Does the seller own the real estate? Yes
- Is the real estate included in the asking price? Walnut, Orland is asking ~$329,000 for the property; $125,000 for the business opportunity. Guilford is asking $410,000 for the property, $50,000 for the business opportunity. There is a little wiggle room with the Guilford business opportunity.
- Have they had any cases of Covid-19? What are they doing to handle Covid-19 (closed to the public, social distancing, following CDC guidelines, etc.)? No cases of COVID - limit vistations; if there is a necessary visitor on site (i.e., when I listed the property), they have done temperature checks, masking is required, social distancing and use of hand sanitizer if anything is touched during the visit.
- How long has the owner had the facilities? Why are they selling? ~15 years; purpose of selling is to retire from the industry when transition is complete. Sellers are fairly committed to staying in the area for at least 3 years; looking to move into another career possibly.
- What care services and levels of care do they provide? Most levels of care provided. Hospice care as needed
- How much do they charge for rent? ~$3500/private room - refer to P&L sent previously
- Is the seller willing to stay on for a transition period? yes
This is the information I normally look at to determine if a business will be a fit for me. If I have to visit the businesses before I can receive this information, that will be a problem since I do not live in the area. The properties are clean and ready to sell with new HVACs, leased solar on Guilford, brand new hall bathrooms to meet ADA requirements.
Do not talk to the owner and employees.
No Co-op brokering.
The photo may not be an actual photo of the business.