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The Fairmont Grand- Asst. Living Memory Care Facility

$1,500,000

417 East Fairlane Drive, Rapid City, SD 57701

Active
Last Updated: 09/02/2024

190,000

NOI

11

Cash-on-Cash

Details:
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
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
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.

Map:
Documents:
Title
The_Fairmont_Grand_Rapid_City_CBRE_low_res.pdf
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