Healthcare/Senior Housing Facility
For Sale
$1,950,000
22 Madras Parkway, Newnan, GA 30263
Healthcare or senior housing facility with immediate occupancy.
Property Size8,878 SF
Price / SF$219.64
Days on Market233
Property Features for 22 Madras Parkway
General Information
Standard status
Active
Size
8,878 SF
Building Details
Building Size
8,878 SF
Year Built
2009
Listing Agency:
Bull Realty
Listed By:
Ernie Anaya, MBA · License #SC #93244
(404) 876-1640
Source:
Tcnworldwide
Added: Mar 6
Changed: Oct 25
Last Checked: May 11 at 7:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bull Realty
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Investment Insights
Based on property information with market context.
The property, constructed in 2009, offers approximately 8,878 square feet suitable for healthcare or senior housing purposes. It features 12 double occupancy units for residents. Immediate occupancy is available. The facility includes fully functioning staff and medical operational areas. A septic tank has been replaced with a sewer connection at a cost exceeding $50,000. Plans are underway to connect Madras Parkway to Highway I-85. The seller will offer a credit to convert the present kitchenette to a professional kitchen.
Key Highlights
- Suited for healthcare or senior housing facility purposes (±8,878 SF)
- Sewer connection completed (septic tank replaced at >$50,000 cost)
- Immediate occupancy available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$119,267
Cap Rate
6.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,385,340
$2.4M
Cap Rate 7%
$1,703,814
$1.7M
Cap Rate 9%
$1,325,189
$1.3M
Market Conditions
NOI Build-Up for 8,878 SF
Gross rent
$231.2K $26.04/SF
− Vacancy
−$14.3K −$1.61/SF
EGI
$216.8K $24.43/SF
− OpEx
−$97.6K −$10.99/SF
NOI
$119.3K $13.43/SF
Area
Coweta County, GA
Vacancy
6.20%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,385,340
Cap Rate 7%
$1,703,814
Cap Rate 9%
$1,325,189
Alternative Uses
Best Use
Apartment 5plus
$1.70M
$1.49M – $1.99M
NOI $119,267 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.48M
$2.17M – $2.90M
NOI $173,722 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
Demographics for 30263, GA
60,467
Population
23,792
Households
2.5
Avg Household Size
38
Median Age
31%
College-Educated
89%
High-School Grad
198.2 sq mi
ZIP Area
305
Density / Sq Mi
$79,752
Median Household Income
$44,508
Median Earnings
$1,332
Median Rent
$278,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Senior housing / Retirement Home - Healthcare or senior housing facility with immediate occupancy.
Where is this senior housing / retirement home located?
The property is located at 22 Madras Parkway Newnan, GA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Suited for healthcare or senior housing facility purposes (±8,878 SF); Sewer connection completed (septic tank replaced at >$50,000 cost); Immediate occupancy available
