This opportunity entails the purchase of a hotel conversion project into a retirement/assisted living residence. License was granted Dec 2015. Current occupancy is over 30%, and stabilization is projected to be reached by end of this year. The Retirement Residence has 11 floors, with 113 suites of various sizes 300 to 600 sf, and a 5000 sf restaurant to service the residents, plus other amenities. Located on 1.6 Acre, part of the lot has been cleared for further development of additional 80 units.
Asking Price $13,250,000
Sales Between $10,000,000 and $25,000,000
Profit Available On Request
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