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    8510 Whitefield Ave Savannah, GA 31406

    Sponsored
    For Sale
    $14,500,000

    36 Units, 7% Cap Rate, High Occupancy

    Property size:
    25,865 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 36-unit senior living facility in Savannah, GA, presents a compelling investment opportunity. Boasting a 100% occupancy rate as of January 6, 2023, and a substantial Net Operating Income (NOI) exceeding $1 million, this stabilized property offers a 7.00% cap rate. The 25,865 square foot facility, built in 1997, sits on a 2.98-acre lot and includes a licensed assisted living community with private bathrooms in each of its 36 units. Amenities include a large visitor area, dining hall, beauty salon, and commercial kitchen, along with multiple indoor and outdoor shared spaces. An additional approximately 2,100 square foot owner's apartment with a full bath is also included. An optional purchase of approximately 2.78 acres of adjacent vacant land is available for expansion. The property is zoned P-R-2. Financial information indicates a gross revenue of $2,168,651.29. The asking price is $14,500,000, translating to a price per square foot of $560.60. Up to 15% owner financing may be available to qualified buyers. The potential for a HUD 232/223(f) loan is also noted, with terms including 80% LTC, 35-year terms, 5.90% interest, and a 1.45X Debt Service Coverage Ratio (DSCR). This property offers a strong return on investment in a desirable coastal Georgia location.

    Property Features for 8510 Whitefield Ave

    General Information

    Property type
    Retirement homes
    Square Feet
    25,865 SF
    Class
    B
    Lot Size
    129,809 SF

    Building Details

    Year Built
    1997
    Buildings
    1
    Stories
    1
    Units
    36

    HighLights

    • 100% occupied Memory Care facility with a waiting list.
    • 36‑unit licensed Assisted Living Community.
    • 25,865 SF Memory Care facility on 2.98 acres.
    • 2,100 SF owner's apartment with full bath.
    • 2.78 acres available for expansion.
    • High‑net‑worth demographic: Average net worth over $1.1M for residents 75+ within a 5‑mile radius.
    Property Profile Location Intelligence

    Current Use by Public Records

    Spanish Oaks Retreat Assisted Living Facility Spanish Oaks Hospice Home Health Care Service ST. JAMES EARLY ... Educational Institution

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Savannah
    County
    Chatham
    State
    Georgia
    Longitude
    -81.1012207
    Latitude
    31.9894821

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    FAQs

    What type of property is this?
    Retirement home - 36 Units, 7% Cap Rate, High Occupancy
    Where is this retirement home located?
    The property is located at 8510 Whitefield Ave Savannah, GA.
    What is the asking price?
    The asking price for this property is $14,500,000.
    What are key features of this property?
    This property features: 100% occupied Memory Care facility with a waiting list.; 36-unit licensed Assisted Living Community.; 25,865 SF Memory Care facility on 2.98 acres.
    (404) 876-1640
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    8510 Whitefield Ave Savannah, GA 31406
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