Lodging / Hotels; Medical Related Biz / Retirement Home
This is a very successful mid-size senior's residence in
Ontario with an excellent reputation. It provides meals and lodging but
not health care services on site. Total square footage exceeds 14,000 square
feet. Common areas include a dining room, sunroom, library TV / Exercise room,
a hair salon plus landscaped garden areas and paved sidewalks. There
is an opportunity to increase room rates as tenant turnover occurs, since
current rents are below market rates.
Monthly rental is all inclusive including accommodation, utilities, food,
laundry, housekeeping, and TV. Residents enjoy three meals a day in the fully
renovated dining room. A full schedule of activities including crafts, games,
and exercise classes, is offered each month.
The business is being sold with the Real Estate - land and buildings that are
valued at $1.7 Million within the total listing price based upon a 2021
appraisal. This is an increase to the book value of land and real estate of
$983,783, as at YE FY2021.