Nursing Home (Orland)  $125,000 "unavailable"

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. 
  • 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. ​

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