Purpose-Built Assisted Living
321 E 800 S Springville, UT 84663
321 E 800 S, Springville, UT, 84663
$4,000,000
Pending
For Sale
$4,000,000
Pending
Fully operational assisted living facility with private resident rooms, nurses’ station, and industrial kitchen and laundry.
Property Size28,505 SF
Days on Market415
Property Features for 321 E 800 S
General Information
- Standard status
- Pending
- Size
- 28,505 SF
Listing agency
UNiTY Group Real Estate
(801) 234-0873
Listed by
Missy Elardi
(801) 234-0873
Source
Exprealty
Added: Jun 4, 2025 Updated: Jul 22 at 4:28PM Checked: Jul 22 at 4:28PM
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 UNiTY Group Real Estate
Investment Insights
Based on property information with market context.
This purpose-built assisted living facility offers 20 resident rooms, each with a private bathroom, and is licensed for up to 30 beds. The layout includes a welcoming reception area, an executive office, and a centrally located nurses’ station, with two on-site caretaker or healthcare worker apartments. Resident amenities are built into the facility plan and include a dining room, theater room, library, fitness room, and an on-site salon, along with a resident laundry room for independent use. The property also features landscaped gardens, a greenhouse, and in-ground and above-ground garden elements.
Operational infrastructure includes a fully equipped industrial kitchen and industrial laundry room, with efficient back-of-house areas to support daily management. Additionally, the offering includes a 2,200-square-foot private owner’s apartment with a chef’s kitchen, two bedrooms, two bathrooms, a large private patio, and separate heating and cooling systems. A stackable washer and dryer are also included in the owner’s unit.
The facility is positioned for convenient access to healthcare, located about 12 minutes north and south of two local hospitals. The property is described as turnkey and currently operating, with consistent occupancy referenced in the remarks.
Operational infrastructure includes a fully equipped industrial kitchen and industrial laundry room, with efficient back-of-house areas to support daily management. Additionally, the offering includes a 2,200-square-foot private owner’s apartment with a chef’s kitchen, two bedrooms, two bathrooms, a large private patio, and separate heating and cooling systems. A stackable washer and dryer are also included in the owner’s unit.
The facility is positioned for convenient access to healthcare, located about 12 minutes north and south of two local hospitals. The property is described as turnkey and currently operating, with consistent occupancy referenced in the remarks.
Key Highlights
- 28,505 SF fully operational assisted living facility licensed for up to 30 beds
- 20 resident rooms with private bathrooms; includes a resident laundry room for independent residents
- Central nurses’ station plus reception area and executive office
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $461.8k | $16.20 |
| − Vacancy | −$22.2k | −$0.78 |
| EGI | $439.6k | $15.42 |
| − OpEx | −$197.8k | −$6.94 |
| NOI | $241.8k | $8.48 |
28,505 SF · lease $16.20/SF/yr · vacancy 4.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.45M
$3.02M – $4.03M
NOI $241,789 @ 7.0% cap · market cap 6.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.86M
$6.88M – $9.17M
NOI $550,032 @ 7.0% cap · market cap 13.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Heritage Gardens of Springville, ...
Nursing Home
Similar For Sale Nearby
Similar Off Market Nearby
- Heritage Gardens of Springville, Utah Assisted Living — 321 E 800 S St, Springville, UT 84663
- Signature Springville-Provo Home Health & Hospice — 382 E 400 S, Springville, UT 84663
FAQs
What type of property is this?
Assisted living facility - Fully operational assisted living facility with private resident rooms, nurses’ station, and industrial kitchen and laundry.
Where is this assisted living facility located?
The property is located at 321 E 800 S Springville, UT.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 28,505 SF fully operational assisted living facility licensed for up to 30 beds; 20 resident rooms with private bathrooms; includes a resident laundry room for independent residents; Central nurses’ station plus reception area and executive office
