361 Leonard Rd
60 bed senior living facility North of Raleigh NC
Marketing description
Raynor Realty, powered by REAL, is pleased to present 361 Leonard Rd, an 18,040 SF former senior living facility situated on 4.06 acres in Louisburg, NC.
Previously licensed for 62 beds, the property is fully built out for senior care use and offers a clear path for an experienced operator to restore operations or reposition as a behavioral health or rehabilitation facility.
Offered below replacement cost, the opportunity is priced to reflect required improvements, including installation of a fire sprinkler system to meet current licensing requirements.
With major capital items already addressed and a defined path to re-licensure, this presents a compelling value-add opportunity in a growing market with increasing demand for care-related services.
Investment highlights
Senior Living Facility | Value-Add Opportunity
- Previously licensed for 62 beds (license expired Dec 2024)
- Two dining areas + full commercial kitchen
- Three wings, each with common area, bathing area, and office
- Built-out layout for assisted living / senior care use
Clear Path to Stabilization:
- Previously appraised at $3M (operational)
- Current county tax value: $2M
- New roof completed – major capital already addressed
- NCDHHS walkthrough completed – items identified and correctable
- Licensing path defined – sprinkler system required (~$1M)
Basis + improvements position well below prior stabilized value.
- Only 13 Minutes from downtown Louisburg and 35 Minutes to Wake Forest NC.
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