Adult Care Home

Business Opportunity for Sale
Catylist Listing ID: 30184219
Property Subtypes: Health and Medical
Building Size (RSF): 1,584 SF
Sale Price: $275,000
Name of Establishment: Adams Adult Care Home
Year Business Established: 1998
Gross Revenue: $108,000 (Annual)
Cash Flow: $55,000 (Annual)
Home Based: Yes
Living Accomodations: Yes
Sale Terms: Cash to seller, seller may hold a note on the business operation, but real estate must be paid for by buyer either with financing or cash.
Last Updated: 2/14/2018

Overview / Comments

Up for sale is a home in Lowell, MI with 6 beds allotted to Adult Home Care. Currently licensed as a family home, meaning the owner must live on site. However, this can also be operated as a managed care facility. The real estate is included in this well maintained and established adult care facility. Minimum monthly rents are forecasted at $1500 per bed per month. Current rates are higher. Purchaser must be able to obtain a state license for adult home care.

Home features 6 bedrooms, 2.5 baths, multiple living areas and nice neighborhood just outside of Lowell, MI. Two stall garage, two furnaces for better climate control. New septic system, and up to date for all licensing requirements. Owner is retiring.

Additional Details

Nearest MSA: Grand Rapids-Wyoming
County: Kent
Industry Segment: Long-Term Care Facilities
Reason for Selling: Owner retirement
Value of Inventory Included ($): $500
Value of Furniture, Fixtures, and Equipment ($): $5,000
Value of Real Estate Included ($): $200,000
Real Estate Lease Description: n/a
Employee/Labor Description: Contract labor for part time help.
Mgmt/Training Support Description: Owner is willing to train for 1-2 months.
Competition/Market Description: suburban
Seller Financing Description: Owner may hold note for business part of purchase to qualified buyers. Not to exceed $50,000.

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 9,770 25,593
Median Age: 40.44 39.5
Households: 3,516 9,002
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