Three Adult Foster Care Homes For Sale

Undisclosed Address, Michigan
Business Opportunity for Sale
Catylist Listing ID: 30775225
Property Subtypes: Health and Medical
Building Size (RSF): See Agent
Sale Price: $510,000
Year Business Established: 2012
Gross Revenue: $736,500 (Annual)
Cash Flow: $211,265 (Annual)
Sale Terms: Cash, Conventional, Seller Financing
Last Updated: 11/22/2021

Overview / Comments

First time on the market, this group of three adult foster care "AFC" homes are ready for new ownership. The business entities are for sale as a package. The three properties are available for lease, also as a package, to the new owner.

The seller has created a caring environment for six residents per home, serving a total of 18 residents. Each home has a dedicated care team that includes a manager or staff that lives on site as well as staff that work shifts. There is also a director overseeing all three homes. The seller is active in management but the business is not entirely owner-dependent for day to day operations.

The staff and residents have a say in hiring and in admitting new residents to their homes, giving all parties an opportunity to express their wishes that creates a cohesive, caring environment for each home.

The three properties are in close proximity in a residential neighborhood. Each property is a single level ranch-style home.

A five-year lease agreement is available to the buyer of the business entity - no real estate is included in the sale price. Ask listing agent for details. The seller will entertain seller financing as one option for the sale of the business entity. The seller is available to help transition the home and is willing to work out a consulting agreement for ongoing support.

Inventory consists of food and is included in the list price along with furniture, fixtures, and equipment. Live-in staff or managers pay rent and for food/utilities to business entity.

For more information, request an NDA from the listing agent. Showings by appointment only. Buyer to verify all information.

Additional Details

Industry Segment: Other Health and Medical
Reason for Selling: Pursuing other interests.
Value of Inventory Included ($): $1,000
Value of Furniture, Fixtures, and Equipment ($): $34,500
Real Estate Status: Not Applicable
Value of Real Estate Included ($): $0
Real Estate Lease Description: 60 month lease at $6,480/month NNN for all three properties. Annual increase of 2.5% per year. Tenant to pay all expenses including utilities, maintenance, property taxes, trash, repairs, insurance, and flood insurance if applicable.
Employee/Labor Description: Live-in manager or staff for each home along with staff that works shifts. One director oversees all three homes.
Mgmt/Training Support Description: Seller is willing to train. Seller willing to continue as a consultant to the buyer for an additional consulting agreement package.
Competition/Market Description: Increasing need for elder care facilities of all kinds due to demographics.
Growth/Expansion Opportunities: Buyer could scale using this model by adding additional homes.
Seller Financing Description: Negotiable.

Contact

Photograph of Listing Agent

Kathy L. DeVries, MBA

Thrive Acquisition CARWM Member
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