Value-Add Former Nursing Home With 86 Private Rooms

Description:

This well-maintained healthcare campus is situated in a blended community of service, education, and ministry with excellent regional access. The offering provides flexible purchase structures for qualified buyers. It is built out with 86 resident rooms with half-bathrooms.

The site is currently tax-exempt and zoned CS (Community Service District), accommodating multiple adaptive reuse opportunities. It offers easy access to Interstate 77 and the Route 30 corridor, strategically located in Stark County. There is an established healthcare and residential surrounding with a dense blend of community servicers, education, and ministry.


Rare acquisition opportunity for a versatile institutional building within minutes of the city’s employment centers, colleges, hospitals, and cultural districts.

Sale includes the main building and a separate storage/garage building

Fully equipped with furnishings and equipment

CS zoning allows for adaptive reuse into skilled nursing facility, assisted living, behavioral health, and education uses

Easily accessible to I-77, Route 30, and Route 62

The House of Loreto Nursing Home is the rare opportunity to own a value-add former nursing home in one of the largest nursing home markets in the country. Established in 1963, the nursing home business was capable of 24 hour care and specialized in skilled nursing, long term care, and short term rehab. The sale of this asset includes the 2 floor ~56,170 sqft main building, and the 4,072 sqft garage/storage space. The property is tax-exempt, with a potential to transfer the same benefits to the new buyer. Within the main building, there are currently 86 private rooms. The facility offering 100% private rooms is a key competitive advantage in the local nursing home market. On-site amenities for residents included a beauty/barber ship, dental office, medical space, and chapel/assembly area.
In addition, the property is fully equipped with over a million dollars in fixtures, furniture, and equipment included in the sale.
The Subject Property uniquely resides in a state whose Governor have pushed for more private rooms in the nursing home industry. The property is near Cleveland Clinic Mercy Hospital, Aultman Hospital, and Malone University. The property is accessible via I-77, Route 30, and Route 62.

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Listing ID: d1f21181-1055-4350-b078-44baaf868fd4