1480 Deerpath Dr - Cambridge Place Assisted Living
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1480 Deerpath Dr - Cambridge Place Assisted Living
23,918 SF Health Care Building Offered at $6,000,000 at a 9.88% Cap Rate in Cambridge, OH 43725
Investment Highlights
- Equity Requirement Approximately $2,111,000
- Assumable HUD Debt
- 15.4% Return Including Principal Reduction / 12.2% Cash on Cash Return
- Medicaid Wavier Certified
Executive Summary
Cash flowing, Assisted Living Opportunity. 93% occupied, +/-50 unit / 55 bed Assisted Living and Memory Care community located in Ohio. An hour from Columbus. The community is already enrolled in the Ohio Assisted Living Medicaid Waiver program which realized a recent rate increase. There are currently 23% Med Waiver and the remaining 77% are Private Pay. While the community is older original construction, it has been well maintained and includes attractive, assumable HUD debt balance of $3,585,000. Interest rate is only 2.29% +MIP. Cash-on-Cash 12.2% and a 15.4% return including principal reduction
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $6,000,000 | Lot Size | 6.75 AC |
| Price Per Bed | $109,091 | Building Size | 23,918 SF |
| Sale Type | Investment or Owner User | No. Beds | 55 |
| Cap Rate | 9.88% | No. Stories | 1 |
| Property Type | Health Care | Year Built | 1972 |
| Property Subtype | Assisted Living | Parking Ratio | 1.84/1,000 SF |
| Building Class | B |
| Price | $6,000,000 |
| Price Per Bed | $109,091 |
| Sale Type | Investment or Owner User |
| Cap Rate | 9.88% |
| Property Type | Health Care |
| Property Subtype | Assisted Living |
| Building Class | B |
| Lot Size | 6.75 AC |
| Building Size | 23,918 SF |
| No. Beds | 55 |
| No. Stories | 1 |
| Year Built | 1972 |
| Parking Ratio | 1.84/1,000 SF |
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PROPERTY TAXES
| Parcel Number | 06-0008987.001 | Improvements Assessment | $531,179 (2023) |
| Land Assessment | $31,371 (2023) | Total Assessment | $562,549 (2023) |
PROPERTY TAXES
Parcel Number
06-0008987.001
Land Assessment
$31,371 (2023)
Improvements Assessment
$531,179 (2023)
Total Assessment
$562,549 (2023)
zoning
| Zoning Code | Commercial (Commercial) |
| Commercial (Commercial) |
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1480 Deerpath Dr - Cambridge Place Assisted Living
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