14 BED RETIREMENT HOME - $1,200,000 - Bruce County

Generic photo to protect the privacy of residents

 

Family owned retirement in a secluded urban setting close to downtown and the local hospital.

Offers an alternative to the large institutional retirement in a family home setting.

A great opportunity for a family-run business. Current labour costs can be dramatically reduced by an onsite owner/operator. There is room for future expansion.

 

2021 PROFORMA

     
REVENUE    
GROSS RENTS $432,027  
10% Vacancy $43,203  
NET REVENUE $388,824  
     
EXPENSES    
Advertising $3,120  
Bank Charges $1,000  
Food & Supplies $30,000  
Insurance $6,749  
Licence/Memberships $3,711  
Office $1,000  
Professional Fees $1,500  
Property Tax $3,450  
Repairs & Maintenance $3,000  
Snow/Pest Control $2,100  
TV/Telephone/Internet $3,066  
Utilities $20,913  
Vehicle $3,000  
Wages & Salaries & WSIB $252,000  
TOTAL EXPENSES $334,609  
     
NET OPERATING INCOME $54,215  
     
     
Information provided by the Seller.
Buyers must verify all information.