512 Main St, Memphis, TX 79245

Property Details for 512 Main St

Year built

1997

Lot size

2.00 lot acres

Property type

Retirement homes

Property subtype

Assisted living facilities

Description

This exceptional 20+ bed assisted and independent living facility in Memphis, Texas, presents a compelling investment opportunity. Located at 512 W Main St, 79245, this established property boasts a substantial 12,000-13,000 square foot building on a 2-acre lot, constructed in 1997. Currently operating at a 92% occupancy rate, the property generates a strong NOI of $204,597, translating to a compelling 13.64% cap rate. Pro forma projections indicate even greater potential, with a projected NOI of $222,541 and a 14.84% cap rate, showcasing significant value-add opportunities. The current owner manages the facility remotely, offering a unique opportunity for hands-off ownership or active management with potential for expansion. The property is offered fee simple, and further information is available upon execution of a non-disclosure agreement. This stabilized investment, categorized as both value-add and owner/user, presents a rare chance to acquire a high-performing senior living asset in a growing Texas market. The property's strong cash flow, high occupancy, and significant upside potential make it an ideal acquisition for seasoned investors seeking a stable and profitable investment in the senior care sector. The existing infrastructure provides a solid foundation for future expansion, potentially including additional independent living, assisted living, or memory care units.

Location Insight

City

Memphis

County

Hall

State

Texas

Longitude

-100.536

Latitude

34.7246