Memory Care Facility Opportunity in Savannah, GA | 36-Units

8510 Whitefield Avenue, Savannah, GA 31406

Accepting Offers

Memory Care Facility Opportunity in Savannah, GA | 36-Units

Asking Price

$12,000,000

Memory Care Facility Opportunity in Savannah, GA | 36-Units

8510 Whitefield Avenue, Savannah, GA 31406

Details

Asset Type: Real Estate

Estate: Fee Simple

Year Built: 1997

Number of Floors: 1

Property Size: 25,865 SF

Property Type: Multifamily

Occupancy %: 100

Land Area: 2.98 Acres

Number of Units: 36

Investment Highlights

HIGHLIGHTS
100% Occupancy Memory Care Facility in Savannah. Plus, Hospice licensed across 23 Georgia Coastal Counties. Approximate combined Gross Revenue is $4,731,116 with a Net Operating Income (NOI) of $1,179,464 annualized from a March 2025 P&L. Opportunity to double Hospice Census. Offered at a 10% CAP rate. Sale includes real estate and business.
HIGHLIGHTS
100% Occupancy Memory Care Facility with waiting list
o 36-unit licensed Assisted Living Community, all units with full bathroom.
o ± 25,865 SF on ± 2.98 acres, plus ± 2, 100 SF owner’s apartment with full bath
o ± 2.78 optional acres available for expansion valued at over $700,000 per acre.
o Rent per bed is $5,300.00.
o 18 Hospice patients reside in the Memory Care Facility paying $5,300 per month, plus Hospice Care Services per diem (e.g., Medicare).
o Annualized Gross Revenue is $2,236,213.
Memory Care Pricing Analysis
o CoStar Assisted Living CAP Rate: 9.3%
o CoStar Sold Comp Average $/SF: $495.51
o Replacement Cost: between $15 million and $19 million, see Replacement Cost Analysis in the Enclosed Investment Analysis
The Hospice licensed across 23 Georgia Coastal Counties; “grandfathered” not required an office in every county. Main office in Savannah and Satellite Office in Claxton, GA
o Census is 50+ patients with opportunity to double. Census prior to COVID was 100+ patients. Opportunity to Grow census in Tri-County area: Chatham, Bryan, Effingham
o Annualized Gross Revenue is $2,494,902. Tri-County area represents opportunity to grow revenue 158.3% to $6.2 million
Combined Current Financials annualized from the March 2025 P&L:
o Approximate Combined Gross Revenue: $4,731,116 annualized from March 2025
o Approximate Net Operating Income: $1,179,464.
Investment Analysis using SBA 504 Loan: 25-year term, 80% LTC, and 6.037% interest Before Tax 5-year Hold Returns:
o Projected Sales Price at 8% CAP: $22,688,000
o Sales Returns (after sale expenses): $13,593,892
o Cash on Cash Return: 11.26%
o Equity IRR: 60.23%
o Gross Rent Multiplier: 2.33
o DSCR: 1.30 (Year 1)
Disclaimer: While the information is deemed reliable, no warranty is expressed or implied. Any information important to you or another party should be independently confirmed within an applicable due diligence period.

Memory Care Facility Opportunity in Savannah, GA | 36-Units

100% Occupancy Memory Care Facility in Savannah. Plus, Hospice licensed across 23 Georgia Counties. Approximate combined Gross Revenue is $4,731,116 with a Net Operating Income (NOI) of $1,179,464 annualized from a March 2025 P&L. Opportunity to double Hospice Census. 10% CAP rate. Optional 2.78 acres available. Sale includes real estate and business. Savannah, a coastal Georgia city, is separated from South Carolina by the Savannah River. It is known for manicured parks, horse-drawn carriages and antebellum architecture and abundant dining and entertainment options. Do not disturb tenants or management. Do not visit the site without an appointment through Bull Realty.

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