15 BED RETIREMENT HOME - $399,000

Generic photo to protect the privacy of residents

 

NORTHERN ONTARIO - COCHRANE

15 BED RETIREMENT HOME

 

Affordable, family owned and operated retirement home. Fully licenced with RHRA. Well maintained modern building. Great opportunity for a person who appreciates small town living.

PROFORMA    
       
Revenue $385,200    
7% Vacancy $26,964    
Net Revenue $358,236    
       
Expense      
Cable (TV) $4,020    
Car Insurance $3,000    
Car Maintenance & Gas $5,100    
Employee Wages $78,719 *  
Food $60,480    
Home Insurance $9,600    
Licenses $2,046    
Maintenance $17,400    
Marketing $888    
Municipal Taxes $6,720    
Office Supplies $2,340    
Supplies $22,800    
Telephone $3,120    
Utilities $12,600    
Total Expense $228,833    
       
Net Operating Income $129,403    
CAP Rate 25%    
       
• Assumes Owner will work at facility      
• Based on information provided by the Seller. Buyers must verify alll information as part of their due diligence