520 28th Ave,  Minot ND, 58701

(Active)
$3,370,000
|
12,596 sqft
|
MLS# 182335
1of
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Last Updated: 10/20/2018 12:09 AM
Description for 520 28th Ave Minot, ND 58701
RARE OPPORTUNITY to be involved in an industry that is increasing in demand as Americans age. This operating 28 resident assisted living/memory care facility includes land, building, improvements, furniture, fixtures, equipment for the facility & value associated with a licensed care center. There is currently a moratorium for expansion of long-term care beds in the state. Therefore, the only way to add additional basic care beds in the Minot community would be to acquire them from other facilities in the state. The facility was developed in 2002 and enlarged in 2006 specifically for its current use. The building contains 24 private rooms, 2 double rooms, and 3-day room areas, 2 kitchens, 3 dining areas, large common area, beauty salon, 3 offices, 2 common shower rooms, & 1 common tub room. An exterior fenced yard provides a secure outdoor recreation area with a concrete patio, walking path, & lawn area. The rent paid by the tenants includes basic care, 3 meals a day, laundry, room cleaning, salon service & common area activities. The list price of this basic memory care facility is based on a current commercial appraisal prepared by certified, impartial, and independent appraiser as of August 22, 2018. VALUE ALLOCATION: Land - $250,000 / Building and Site Improvement - $1,474,000 / Furniture, Fixtures, & Equipment - $96,000 / Licensed Operating Business Enterprise - $1,550,000 / Value of the Operating Facility - $3,370,000. GROSS REVENUE: $1,400,000 - $1,800,000 potential
Price
$3,370,000
12,596 (approx)
182335
Active
Description
RARE OPPORTUNITY to be involved in an industry that is increasing in demand as Americans age. This operating 28 resident assisted living/memory care facility includes land, building, improvements, furniture, fixtures, equipment for the facility & value associated with a licensed care center. There is currently a moratorium for expansion of long-term care beds in the state. Therefore, the only way to add additional basic care beds in the Minot community would be to acquire them from other facilities in the state. The facility was developed in 2002 and enlarged in 2006 specifically for its current use. The building contains 24 private rooms, 2 double rooms, and 3-day room areas, 2 kitchens, 3 dining areas, large common area, beauty salon, 3 offices, 2 common shower rooms, & 1 common tub room. An exterior fenced yard provides a secure outdoor recreation area with a concrete patio, walking path, & lawn area. The rent paid by the tenants includes basic care, 3 meals a day, laundry, room cleaning, salon service & common area activities. The list price of this basic memory care facility is based on a current commercial appraisal prepared by certified, impartial, and independent appraiser as of August 22, 2018. VALUE ALLOCATION: Land - $250,000 / Building and Site Improvement - $1,474,000 / Furniture, Fixtures, & Equipment - $96,000 / Licensed Operating Business Enterprise - $1,550,000 / Value of the Operating Facility - $3,370,000. GROSS REVENUE: $1,400,000 - $1,800,000 potential
Listing Information
Property Type: Other
1.43 Acres 12,596 (approx) $267.55
2002
City
City Sewer
Neighborhood
Room Information
Interior Features
Central Air
Gas Heat, Forced Air
3
Exterior / Lot Features
None
1.434 Acres
C2
Driving Directions
East of Menards
Financial Considerations
MI36.B94.000.0020
$19,082
2017
Listing Price History

Minot Real Estate

Minot is located in North Dakota. Minot, North Dakota 58701 has a population of 49,450.

The median household income in Minot, North Dakota 58701 is $57,248. The median household income for the surrounding county is $59,301 compared to the national median of $53,482. The median age of people living in Minot 58701 is 32 years.

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Courtesy: BROKERS 12, INC.701-852-3757
This content last refreshed on 10/20/2018 12:09 AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.

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