The Victorian- Asst. Living Memory Care Facility

1321 Columbus Street, Rapid City, SD

Market Price

Price

12%

Cap Rate

$618,000

NOI

Gallery
Street
Map
Overview
Cap Rate
12%
NOI
$618,000
Cash-on-Cash
12%
Pro Forma Cap Rate
17%
Building Size
21,895 sqft
Lot Area
1.64 acres
Occupancy
81%
Year Built
1997
Price Per Sqft
$228
Price Per Unit
$104,000
Zoning
MU
Floors
3
Year Last Renovated
Yes
Construction Status
Completed
Parking Ratio
1.51
HVAC
Y
Description

The facility is currently operating as an Assisted Living and Memory Care facility with 48 Beds, with in-suite bathrooms in every room. 39 beds are currently occupied with residents. There is an on-site commercial kitchen, laundry equipment and facilities, plus a hair salon and office space for the staff. The property is ideally suited for conversion to a Behavioral/Rehab Care facility, as a result of the 3 separate wing design, which makes up the living/sleeping rooms. There is a central area with the Entry, kitchen, dining, sitting parlor and activities rooms, where the residents can commune in common. There is a large unimproved open area in the basement for expansion (NIC in SF), plus offices on the 2nd floor (NIC in SF) as a bonus.

Highlights
  • Existing Assisted Living Facility with leasing upside and expansion possibilities
  • Expandable in the existing SF Footprint
  • Single and dual occupancy rooms with in-suite bathrooms
Documents
Title
The_Victorian_Rapid_City_CBRE_low_res.pdf
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Location
Gallery