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ALF 35 to 40 beds. NE Florida. Specializing with LMH residents.
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ALF 35 to 40 beds. NE Florida. Specializing with LMH residents.
Principals Only Please.
This 35 to 40 bed ALF licensed by the State of Florida (AHCA) is located in a quaint, charming, and historic downtown district, surrounded by antique shops, restaurants, and historic hotels and sites. This facility has been around for several decades under a couple of ownerships. The current owner bought it in July 2016 and is seeking retirement. The business is managed year-round by a capable supervisor/manager who is willing to remain after the sale. The ALF has a Standard and LMH licenses. The current residents are low-income seniors or adults over the age of 18 with psychiatric disabilities (such as schizophrenia or bipolar disorder) who require licensed 24/7 care but rely on government programs to make these specialized facilities affordable. The facility maintains full capacity at all times, and the current monthly revenue amounts to $44,976. Given this population, the fees for current residents are modest; however, a new proprietor could establish an admissions strategy to attract more affluent residents who may be eligible for the SMMC-LTC program and/or have the means to pay privately.
This 35 to 40 bed ALF licensed by the State of Florida (AHCA) is located in a quaint, charming, and historic downtown district, surrounded by antique shops, restaurants, and historic hotels and sites. This facility has been around for several decades under a couple of ownerships. The current owner bought it in July 2016 and is seeking retirement. The business is managed year-round by a capable supervisor/manager who is willing to remain after the sale. The ALF has a Standard and LMH licenses. The current residents are low-income seniors or adults over the age of 18 with psychiatric disabilities (such as schizophrenia or bipolar disorder) who require licensed 24/7 care but rely on government programs to make these specialized facilities affordable. The facility maintains full capacity at all times, and the current monthly revenue amounts to $44,976. Given this population, the fees for current residents are modest; however, a new proprietor could establish an admissions strategy to attract more affluent residents who may be eligible for the SMMC-LTC program and/or have the means to pay privately.
About the Business
- Years in Operation
- 39
- Employees
- 5 Full-time
- Currently Home Based
- Yes
- Facilities & Assets
- Two-story building equipped with a fire sprinkler system and all of the fire requirements dictated by local and state laws. It was built in 1909, and according to public records and prior ownerships, an addition was built in 1967. A large and functional commercial kitchen with a commercial hood, Ansul System, 6-burner gas stove, etc. Also, a self-starting natural-gas-powered generator that powers a portion of the building in case of emergencies. Four parking spots are available at the rear of the building, and off-street parking is available.
- Market Outlook / Competition
- The absolute cheapest assisted living in Florida starts around $1,100 to $2,000 per month, but these rock-bottom rates are heavily subsidized by Medicaid or reserved for low-income seniors and individuals with mental issues. Because standard ALFs aren't legally equipped to handle residents receiving disability or SSI benefits for mental disorders, the specialized LMH facilities are in high demand and often face long waiting lists. Another way to increase revenues is to change the resident mix to focus on a wealthier population and on seniors eligible for LTC and private pay.
- Opportunities for Growth
- With a renewed license for 40 beds and the same average per-resident-per-month rate, revenue will increase by $75,000 per year. Physical expansion may not be feasible, but with some upgrades and cosmetic work, a wealthier population may be admitted, increasing future revenues.
Real Estate
- Owned or Leased
- Owned
- Included in asking price
- Building Sq. Ft.
- 11,407
About the Sale
- Seller Motivation
- Retirement after many years in the health care industry.
- Transition Support
- The owner or manager will remain for a period of time to familiarize the buyer with the operation.
- Financing Options
- SBA Loans available
Listing Info
- ID
- 2515510
- Listing Views
- 183
Listing ID: 2515510 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.
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