1234 Main St Steelton, PA 17113
- Retirement homes
- 16,200 SF
- 5.70 lot acres
Current Use by Public Records
- Retirement homes
Property Details for 1234 Main St
- Year built
- 1952
- Lot size
- 5.70 lot acres
- Property size
- 16,200 SF
- Property type
- Retirement homes
Description
This exceptional 30-bed assisted living facility, situated on a 5.7-acre lot in Dauphin County, Pennsylvania, presents a compelling investment opportunity. The 16,200 square foot, single-story building, constructed in 1952, boasts a strong 13.62% capitalization rate and a Net Operating Income (NOI) of $354,164, with an asking price of $2,600,000. Currently operating at 96% occupancy (April 2023) with a waiting list, the facility features 18 units and averages $4,128 in monthly rental rates, below market average, offering significant upside potential for increased revenue. Conveniently located near Interstate 81 and Route 30, this property benefits from high visibility and accessibility. The property accepts Supplemental Security Income (SSI) for eligible Pennsylvania residents on a limited basis. The current owner is willing to assist with the transition, if desired, and the experienced staff contributes to the well-maintained facility and consistent performance. The large lot allows for potential future expansion. Zoned commercial, this turnkey operation is ideally suited for both seasoned and new senior housing investors seeking a stable, high-performing asset in a strong market. Market data indicates robust demand for assisted living in the immediate area.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Steelton
- County
- Dauphin
- State
- Pennsylvania
- Longitude
- -76.8141851
- Latitude
- 40.2395455
