15 BED RETIREMENT HOME - $599,000

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 $325,000
7% Vacancy $22,750
Net Revenue $302,250
   
Expense  
Cable (TV) $4,020
Car Insurance $3,000
Car Maintenance & Gas $5,100
Employee Wages $86,919
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 $237,033
   
Net Revenue $65,217
CAP Rate 10%