Memory Care Facility Opportunity in Savannah, GA | 36-Units
$11,800,000
8510 Whitefield Avenue, Savannah, GA 31406
25,865 sqft
Building Size
2.98 acres
Lot Area
Details:
Highlights:
- HIGHLIGHTS
- • 100% Occupancy Memory Care Facility with waiting list
- o 36-unit licensed Assisted Living Community, all units with full bath
- o Facility is ± 25,865 SF on ± 2.98 acres, plus ± 2, 100 SF owner’s apartment with full bath
- o ± 2.78 optional acres available for expansion valued at over $700,000 per acre.
- o Rent per bed is $5,200.00.
- o 18 Hospice patients reside in the Memory Care Facility paying $5,200 per month, plus Hospice Care Services per diem (e.g., Medicare).
- o Annualized Gross Revenue is $2,236,213.
- • Pricing Analysis
- o CoStar CAP Rate: 9.3%
- o CoStar Sold Comp Average $/SF: $495.51
- o Replacement Cost: between $15 million and $19 million, see attached
- • The Hospice licensed across 23 Georgia Coastal Counties; “grandfathered” not to require an office in every county.
- o Census is 50+ patients with opportunity to double. Census prior to COVID was 100+ patients.
- o Annualized Gross Revenue is $2,494,902.
- o According to the enclosed Georgia Hospice Market Analysis, the 23-County Market Area has a potential home care hospice patient volume of 3,954 representing a Medicare Reimbursement Total Revenue of $65,835,100 per year based on CMA Data (2021) with a 90-day ALOS, see Hospice Market Outlook.
- • Approximate Combined Financials annualized from March 2025 P&L:
- o Approximate Combined Gross Revenue: $4,731,116 annualized from March 2025
- o Approximate Net Operating Income: $1,179,464.
- • Before Tax 10-year Hold Returns (using an SBA 504 Loan with 25-year term, 85% LTC, and 6.266% interest): www.ga504.com
- o Projected Sales Price at 8% CAP: $21,386,000
- o Sales Returns (after sale expenses): $13,875,787
- o Cash on Cash Return: 50.53%
- o Equity IRR: 34.5%
- o DSCR: 1.33 (Year 1)
- Disclaimer: While the information is deemed reliable, no warranty is expressed or implied. Any information important to you or another party should be independently confirmed within an applicable due diligence period.
Description:
100% Occupancy Memory Care Facility in Savannah. Plus, Hospice licensed across 23 Georgia Counties. Approximate combined Gross Revenue is $4,731,116 with a Net Operating Income (NOI) of $1,179,464 annualized from a March 2025 P&L. Opportunity to double Hospice Census. 10% CAP rate. Optional 2.78 acres available. Sale includes real estate and business.
Savannah, a coastal Georgia city, is separated from South Carolina by the Savannah River. It is known for manicured parks, horse-drawn carriages and antebellum architecture and abundant dining and entertainment options.
Do not disturb tenants or management. Do not visit the site without an appointment through Bull Realty.
Savannah, GA
Documents:
Location
Gallery
