22 BED DOM HOME - EMBRUN - LIST $1,500,000 - SOLD

Based on the current demographics the town has a demand for a good affordable retirement facility.
The current building has an outstanding 22 bed domiciliary facility which is always full and has a waiting list.
An additional 45 beds are possible in a separate building complex.  See site plan.
The site is well situated close to the town’s amenities and will attract retirees wanting to be close to their roots, family and friends.
 
Profit & Loss Projections
     
  EXISTING PROJECTED
  22 Beds 37 Beds
Gross Income
(at $1,500 per bed)
$400,000 $666,000
Less Vacancy 5%* $0 $33,300
  $400,000 $632,700
Operating Expenses    

Payroll**

$175,000 $220,000

Food & Supplies

$64,000 $86,000

Accounting/Legal

$3,000 $3,500

Business Fees

$1,500 $3,000

Insurance

$10,700 $15,000

Property Tax

$11,100 $14,000

Utilities

$10,750 $16,000

Repairs & Maintenance

$4,000 $6,000

Vehicle Costs

$3,000 $3,000

Telephone/Internet

$4,000 $4,000

Total Operating Expenses

$287,050 $370,500
     
Net Operating Income $112,950 $262,200
     
10% Capitalization Rate $1,129,500 $2,622,000
     
* No vacancies in existing    
** Includes Administrator and management