- For Sale $3,800,000
- Property Type Other
- Property Size 33,906 SF
- Units 49
- Lot Size 2.97 Acre
- Year Built 1999
- Date Updated May 20, 2026
Description
This property is located in Decatur, AL.Located in Decatur, Alabama, this building is in A “Senior-Heavy” Market: Decatur’s 65+ population (approximately 18.1% of the city) is slightly higher than the national average. When looking at the broader MSA, nearly 1 in 5 residents is a senior, indicating a high density target market for assisted living services.
Regional Draw: As the second-largest city in the Huntsville-Decatur Combined Statistical Area (CSA)—a region with over 880,000 people—Decatur acts as a primary service hub for the more rural parts of Lawrence and Limestone counties.
Economic Stability: With a median household income of approximately $63,987 and a cost of living roughly 12% below the national average, residents have higher-than-average discretionary income for private-pay senior care options for care.
Highlights
- 2024 Weitz Replacement Cost (Construction cost only): $273/SF
- Acquisition CAP Rate: 12.3%
- Average Home Value: $361,052.
- Average Household Income (Age 75+): $70,747
- Average Net Worth (Age 75+): $1,696,281.
- Cash on Cash: 33.16%
- CoStar Southeast Sold Comps:$233/SF
- Debt Service Coverage Ratio: 1.9
- FINANCIAL HIGHLIGHTS (5-Year Hold)
- Forecast NOI: $543,602 (normalizing expenses to 75% of Gross Revenue)
- Gross Revenue: $2,174,408 (Actual)
- IRR: 83.11%
- List Price: $3,800,000
- Occupancy: 70.5% November (Actual)
- Projected Sales Year 5: $9.5 million
- PROPERTY HIGHLIGHTS
- Property Qualifies for a SBA 504 Loan: 25-year term, 85% LTC, and 5.856% interest
- Revenue growth: 5% per year
- Sales proceeds after expenses: $6.3 million
- STRONG MARKET
False
Contacts
Ernie Anaya, MBA
Bull Realty
Location
Contact Listing Broker
Ernie Anaya, MBA
Bull Realty
