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Available For Sale - Multifamily

91,809 SF

AVAILABILITY DETAILS

Size
91,809 SF
Price/SF
N/A - Contact for Info
Listing ID
SA437318
Notes
The Grand Royale is a newly redeveloped Senior Living Facility located in Gladstone, MO. This asset is a gorgeous, state-of-the-art building, consisting of 34 independent living, 43 assisted living, and 28 short term care (SNF) beds--71 licensed Certificate of Needs (CONs) per the state of Missouri. The facility includes numerous onsite amenities, such as a café, speakeasy, salon and barbershop, movie theater, recreation room, and more.



This offering presents the opportunity to acquire a new-construction seniors housing asset in a major Kansas City submarket characterized by its limited local competition & abundant higher-acuity Medicare referral sources. Upside exists for an incoming investor to acquire the community for well-below replacement cost, leveraging strong local demand fundamentals and limited new entrants into the primary market area to successfully lease-up the community, establishing it as a leading value provider of high quality acute senior care. Upon stabilization in Year 3 (September 2020 scheduled grand opening date), community total revenue & EBITDAR are projected at ˜$8,332,000 and ˜$2,498,000, respectively, translating to a 30.0% operating margin at ˜91% community occupancy. The offering represents an attractive acquisition for a wide-range of investor profiles looking to expand their presence in the Kansas City submarket, or those with an existing regional infrastructure looking to capitalize on operational synergies.



The Grand Royale is being offered without a defined asking price and unencumbered by property-level mortgage debt. All qualified offers will be contemplated.
Uses
Multifamily

Other Availability in this Property

Space/Suite Square Feet Type Uses Asking Rent/Price
91,809 SF Sale Office Show Pricing $ chevron_right
Space/Suite
 
Square Feet
91,809 for sale
Uses
Office
Asking Rent/Price
Show Pricing $

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Logan Freeman, Clemons Real Estate, LLC
BRE# 2017044342