12-bed memory care and adult day care facility on 4.35 acres. $141K SDE in 2020. 6,872 sf building with a commercial kitchen constructed in 2016. This active business is priced as an asset sale below the appraised value of the real estate. There are lots of opportunities for expansion. Plans are in place for a duplicate or 55-bed addition. The seller is highly motivated to sell quickly. This is a great opportunity for a cash buyer to gain a foothold and build a successful memory care and assisted living facility for a bargain price in O'Fallon, IL.
Update: Due to a recent loss of residents below a sustainable level, the sellers are in the process of closing Joe’s Place down to minimize the cash drain. The anticipated closure date is currently mid-2024. As time is of the essence, buyers wishing to purchase a going concern should act quickly.
For more information, contact the listing agent.
- Asking Price:
- $1,200,000 Furniture / Fixtures and Inventory / Stock included
- Sales Revenue:
- $494,675
- Cash Flow:
- $141,320
Property Information
- Real Estate:
-
Real Property Included
- Premises Details:
-
FF&E Overview: Furniture, office equipment, security cameras, commercial kitchen, shuttle bus
FF&E General Condition: Good
Business Operation
- Reasons for selling:
-
Retirement
- Trading hours:
-
24/7/365
- Employees:
- 8
- Years established:
- 2015
Other Information
- Support & training:
-
Number of Weeks Seller Will Offer Training: 4
- Owner financing:
- Owner financing is available. Please contact the seller for more information.
- Furniture / Fixtures value:
- $55,000 - included in the asking price
