519 Lawrenceville Street NW

Norcross, GA

Senior Facilities for Sale - $2,500,000 - 10,820 Sq. Ft. on 0.82 acres

Bull Realty, Inc.

Print   |   Report Error   |   Email Listing

Agent Info

NameMichael Bull, CCIM
CompanyBull Realty, Inc.

Property Info

CIMLS #968648
Location519 Lawrenceville Street NW
Norcross GA 30071
Last UpdatedNovember 1st, 2017
TypeSenior Facilities
Price$2,500,000
Building10,820 Sq. Ft.
Land0.82 acres

Contact


Property Description

This 25-unit Assisted Living Facility is located in a desirable demographic area of Norcross, Gwinnett County, Georgia. The property was built in 1987 and provides affordable assisted living and elderly care. This property is a value-add opportunity as lease rates are significantly under market.

The property consists of a 10,820 square foot two-story structure with 21 out of 24 units occupied. There is also an extra suite (formerly the owner’s suite) equipped with a full bathroom that can be added to the mix. 16 units have been recently renovated and the roof has been recently replaced. All units have private full bathrooms. Call for Pro Forma.

Location Description:

Located off Buford Highway and readily accessible from major highways, this property is surprisingly tucked quietly away in Norcross, Georgia, a charming antidote to modern suburbia. With a rich variety of well-preserved historic homes and an authentic turn-of-the-century downtown district, Norcross turns back the clock to simpler times and small-town American life. Norcross is the second oldest city in Gwinnett County and was the first to be placed on the Register of Historic Places.

Highlights:

>> 25-unit assisted living facility

>> 10,820 SF two-story structure

>> 88% Occupancy

>> $137,064 Net Operating Income (NOI)

>> Value-add opportunity; lease rates are significantly under market

>> 16 units recently renovated

>> New roof

* Email for additional photos