The Fairmont Grand- Asst. Living Memory Care Facility

417 East Fairlane Drive, Rapid City, SD

$1,500,000

Price

$190,000

NOI

11%

Cash-on-Cash

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Street
Map
Overview
NOI
$190,000
Cash-on-Cash
11%
Pro Forma Cap Rate
16%
Building Size
44,150 sqft
Lot Area
83,200 sqft
Occupancy
73%
Year Built
1995
Price Per Sqft
$34
Price Per Unit
$23,000
Zoning
MU
Floors
2
Year Last Renovated
Yes
Construction Status
Completed
HVAC
Yes
Description

The Fairmont Grand is currently being operated as an assisted living facility with 64 beds, with occupancy currently at 47 residents. The property is being offered as a conversion opportunity for mental health and behavioral operations including, but not limited to misc. behavioral in-patient care, substance abuse disorders, residential treatment, transitional housing and other alternate care for various patient populations.

Highlights
  • - Well maintained exterior building and interiors
  • - Bonus SF on 2nd Floor for expansion of patient rooms
  • - Community living space and common areas
  • - Activities and game rooms, full-service hair salon, computer area, laundry facilities
  • - Community Club House
Documents
Title
The_Fairmont_Grand_Rapid_City_CBRE_low_res.pdf
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Location
Gallery