Ontario Seniors Residence
Ontario, CANADA
| Asking Price: |
Gross: |
Cash Flow: |
| $2,500,000 |
$777,906 |
$298,709 |
Furniture and Fixtures Value:
$89,782 (included in the asking price)
Real Estate:
$1,184,799 (included in the asking price)
Business Summary:
This is a very successful mid-size senior's residence in Ontario with an excellent reputation. It provides meals and lodging but not health care services on site. Total square footage exceeds 14,000 square feet. Common areas include a dining room, sunroom, library TV / Exercise room, a hair salon plus landscaped garden areas and paved sidewalks. There is an opportunity to increase room rates as tenant turnover occurs, since current rents are below market rates.Monthly rental is all inclusive including accommodation, utilities, food, laundry, housekeeping, and TV. Residents enjoy three meals a day in the fully renovated dining room. A full schedule of activities including crafts, games, and exercise classes, is offered each month.The business is being sold with the Real Estate - land and buildings that are valued at $1.7 Million within the total listing price based upon a 2021 appraisal. This is an increase to the book value of land and real estate of $983,783, as at YE FY2021.
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| Year
Business was Established: 1992 |
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| Number of Employees:
3 FT/12 PT |
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| Facilities / Terms of Lease:
The total facility exceeds 14,000 square feet on over 1.25 acres. A 4 story addition is permitted under current municipal guidelines. The facility is well located and is steps to local waterfront and in town shopping areas for those residents who want to make the short excursions. |
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| Potential
Growth/Expansion:
Potential for growth is primarily through real estate / facility expansion. Revenue can be increased via monthly rental rates consistent with tenant turnover. |
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| Competition:
There are a number of seniors residences offering a variety of services within 100km or 30 minutes. Most charge higher monthly rents and are more expensive than this one. |
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| Owner
willing to train:
Will train for 4 weeks @ $0 cost. |
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| Reason for selling:
The owners have decided to retire. The full time chef will be remaining along with all of the part-time staff. |
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| REQUEST MORE INFO |
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