8510 Whitefield Ave Savannah, GA 31406

2,117 SF 2.98 ac lot Built 1997

Entity Owned 14-yr Hold

Property ID

US22-0712795

$12,000,000 2,117 SF

8510 Whitefield Ave, Savannah, GA 31406
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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.