50 BED RETIREMENT HOME - HASTINGS COUNTY - LIST $2,200,000 -- STF

Generic photo to protect the privacy of residents

  • Well-established business since 1958
  • Opened as a Nursing Home and converted to a Retirement Home in 1978
  • Licenced with the RHRA for 50 beds.
  • Home has a high occupancy rate servicing local urban and rural areas.
  • Expansion possibilities
  • Being sold as a turnkey operations -
  • Rents leases below market value, could be increased
  • Asking $2,200,000
PROFORMA
95% Occupancy
   
REVENUE  
Resident Fees $1,080,000
TOTAL REVENUE  
   
EXPENSES  
VARIABLE COSTS  
Salaries and wages $495,000
Food costs $131,000
Utilities $65,000
Supplies $34,000
TOTAL VARIALBE COSTS $725,000
   
FIXED COSTS  
Insurance $35,221
Repairs and Maintenance $35,000
Office $21,523
Property Taxes $16,000
Telephone $9,336
Professional Fees $10,000
Business Taxes, Licenses & Memberships $8,114
Sub--contracts $6,538
Interest and Bank Charges $5,075
Advertising and Promotion $3,918
TOTAL FIXED COSTS $150,725
   
TOTAL EXPENSES $875,725
   
NET INCOME $204,275
   
**NOTE: Information provided by Seller.
                 Buyer must verify all information.