±33,906 SF Assisted Living Facility | Decatur, AL
±33,906 SF Assisted Living Facility | Decatur, AL
Marketing description
Located in Decatur, Alabama, this building is in A “Senior-Heavy” Market: Decatur’s 65+ population (approximately 18.1% of the city) is slightly higher than the national average. When looking at the broader MSA, nearly 1 in 5 residents is a senior, indicating a high density target market for assisted living services.
Regional Draw: As the second-largest city in the Huntsville-Decatur Combined Statistical Area (CSA)—a region with over 880,000 people—Decatur acts as a primary service hub for the more rural parts of Lawrence and Limestone counties.
Economic Stability: With a median household income of approximately $63,987 and a cost of living roughly 12% below the national average, residents have higher-than-average discretionary income for private-pay senior care options for care.
Investment highlights
STRONG MARKET
Average Net Worth (Age 75+): $1,696,281.
Average Household Income (Age 75+): $70,747
Average Home Value: $361,052.
Unmet Demand (10 mile): 196 Beds
PROPERTY HIGHLIGHTS
List Price: $3,800,000
Gross Revenue: $2,174,408 (Actual)
Occupancy: 70.5% November (Actual)
Forecast NOI: $543,602 (normalizing expenses to 75% of Gross Revenue)
CoStar Southeast Sold Comps:$233/SF
2024 Weitz Replacement Cost (Construction cost only): $273/SF
FINANCIAL HIGHLIGHTS (5-Year Hold)
Property Qualifies for a SBA 504 Loan: 25-year term, 85% LTC, and 5.856% interest
Using 29.5% Year 1, 19% Year 2, and 10% Years 3-10
Revenue growth: 5% per year
IRR: 83.11%
Cash on Cash: 33.16%
Acquisition CAP Rate: 12.3%
Debt Service Coverage Ratio: 1.9
Projected Sales Year 5: $9.5 million
Sales proceeds after expenses: $6.3 million
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