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The Victorian- Asst. Living Memory Care Facility

Market Price

1321 Columbus Street, Rapid City, SD 57701

Active
Last Updated: 09/02/2024

12

Cap Rate

618,000

NOI

Details:
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
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
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.

Map:
Documents:
Title
The_Victorian_Rapid_City_CBRE_low_res.pdf
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Location
Gallery