NORMANDY ADULT LIVING FACILITY UNIQUE OPPORTUNITY! … · miami beah fl 33140 county miami dade...
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NORMANDY ADULT LIVING FACILITY OFFERING MEMORANDUM UNIQUE OPPORTUNITY! ONLY AVAILABLE ADULT LIVIN 7100 RUE GRANVILLE, MIAMI BEAH FL 33140
Transcript of NORMANDY ADULT LIVING FACILITY UNIQUE OPPORTUNITY! … · miami beah fl 33140 county miami dade...
NORMANDY ADULT LIVING FACILITY
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UNIQUE OPPORTUNITY! ONLY AVAILABLE ADULT LIVING FACILITY FOR SALE IN MIAMI BEACH 7100 RUE GRANVILLE, MIAMI BEAH FL 33140
Normandy Adult Living FacilityCONTENTS
Exclusively Marketed by:
Mindy Kurkin
(305) [email protected]
Yaacov Poston
(305) [email protected]
Samuel Heskiel
(786) [email protected]
Shlomo Poston
(305) [email protected]
Marilina ApfelbaumLicensed Real Estate Associate
(786) [email protected]
We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions,change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of theproperty. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
01 Executive Summary Investment Summary 3
Location Summary 4
02 Property Description Property Features 5
Aerial Map 6
Property Images 7
03 Financial Analysis Income & Expense Analysis 8
Multiyear Cash Flow Assumptions 9
Cash Flow Analysis 10
Disposition Sensitivity Analysis 12
04 Demographics Demographics 13
Demographic Charts 15
Normandy Adult Living Facility Investment Summary | 03
OFFERING SUMMARY
ADDRESS 7100 Rue GranvilleMiami Beah FL 33140
COUNTY Miami Dade
MARKET ALF
BUILDING SF 7,000 SF
LAND SF 15,000
NUMBER OF UNITS 33
YEAR BUILT 1953
YEAR RENOVATED 2020
APN 02-3210-011-0280 & 02-3210-011-0270
OWNERSHIP TYPE Fee Simple
FINANCIAL SUMMARY
OFFERING PRICE $4,900,000
PRICE PSF $700.00
PRICE PER UNIT $148,485
OCCUPANCY 100.00 %
NOI (CURRENT) $1,007,500
NOI (Pro Forma) $1,210,500
CAP RATE (CURRENT) 20.56 %
CAP RATE (Pro Forma) 24.70 %
GRM (CURRENT) 3.44
GRM (Pro Forma) 3.01
DEMOGRAPHICS 1 MILE 3 MILE 5 MILE
2019 Population 16,458 100,344 310,927
2019 Median HH Income $50,438 $56,625 $49,426
2019 Average HH Income $82,910 $95,821 $79,942
Unique Opportunity to acquire the only Adult Living Facility inMiami Beach.
-Prime Location
-33 Beds
-Newly Remodeled down to the shell
-Located on a Prime corner with a Red Light
-Cooking License
-Day Care License
-Private License
-Public License
-Contract with majority of insurance companies
All grandfathered in.
Normandy Adult Living Facility Location Summary |04
Center of Miami Beach. Proximity to everything!
Regional Map
Locator Map
Normandy Adult Living Facility Property Features | 05
PROPERTY FEATURES
NUMBER OF UNITS 33
BUILDING SF 7,000
LAND SF 15,000
LAND ACRES 1/3
YEAR BUILT 1953
YEAR RENOVATED 2020
# OF PARCELS 2
ZONING TYPE Multi Family ALF
LOCATION CLASS A
NUMBER OF STORIES 1
NUMBER OF BUILDINGS 2
NUMBER OF PARKING SPACES Street Parking
POOL / JACUZZI NO
FIRE PLACE IN UNIT NO
WASHER/DRYER YES
MECHANICAL
HVAC NEW
FIRE SPRINKLERS NEW
CONSTRUCTION
FOUNDATION Concrete
FRAMING Concrete
ROOF NEW
Normandy Adult Living Facility Aerial Map |06
Normandy Adult Living Facility Property Images | 07
Normandy Adult Living Facility Income & Expense Analysis | 08
INCOME CURRENT PRO FORMA
Effective Gross Income $1,424,000 $1,627,000
Less: Expenses $416,500 $416,500
Net Operating Income $1,007,500 $1,210,500
EXPENSES CURRENT PRO FORMA
Real Estate Taxes $3,030 $100,000 $3,030 $100,000
Insurance $1,515 $50,000 $1,515 $50,000
Marketing $373 $12,300 $373 $12,300
Repairs & Maintenance $636 $21,000 $636 $21,000
Water / Sewer $236 $7,800 $236 $7,800
Landscaping $36 $1,200 $36 $1,200
Food $1,030 $34,000 $1,030 $34,000
Salaries $5,455 $180,000 $5,455 $180,000
Supplies $309 $10,200 $309 $10,200
Total Operating Expense $12,621 $416,500 $12,621 $416,500
Expense / SF $59.50 $59.50
% of EGI 29.25 % 25.60 %
Per Unit Per Unit
REVENUE ALLOCATION
DISTRIBUTION OF EXPENSES
Normandy Adult Living Facility Multiyear Cash Flow Assumptions |09
GLOBAL
Offering Price $4,900,000
Normandy Adult Living Facility Cash Flow Analysis | 10
CASH FLOW
Calendar Year CURRENT Pro Forma Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Gross Potential RevenueGross Rental Income $1,424,000 $1,627,000 $1,659,540 $1,692,731 $1,726,585 $1,761,117 $1,796,339 $1,832,266 $1,868,912 $1,906,290
Gross Potential Income $1,424,000 $1,627,000 $1,659,540 $1,692,731 $1,726,585 $1,761,117 $1,796,339 $1,832,266 $1,868,912 $1,906,290
Effective Gross Income $1,424,000 $1,627,000 $1,659,540 $1,692,731 $1,726,585 $1,761,117 $1,796,339 $1,832,266 $1,868,912 $1,906,290
Operating ExpensesReal Estate Taxes $100,000 $100,000 $102,000 $104,040 $106,121 $108,243 $110,408 $112,616 $114,869 $117,166
Insurance $50,000 $50,000 $50,500 $51,005 $51,515 $52,030 $52,551 $53,076 $53,607 $54,143
Marketing $12,300 $12,300 $12,300 $12,300 $12,300 $12,300 $12,300 $12,300 $12,300 $12,300
Repairs & Maintenance $21,000 $21,000 $21,210 $21,422 $21,636 $21,853 $22,071 $22,292 $22,515 $22,740
Water / Sewer $7,800 $7,800 $7,800 $7,800 $7,800 $7,800 $7,800 $7,800 $7,800 $7,800
Landscaping $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200
Food $34,000 $34,000 $34,000 $35,700 $35,700 $37,485 $37,485 $39,359 $39,359 $39,359
Salaries $180,000 $180,000 $180,000 $189,000 $189,000 $198,450 $198,450 $208,373 $208,373 $208,373
Supplies $10,200 $10,200 $10,200 $10,710 $10,710 $11,246 $11,246 $11,808 $11,808 $11,808
Total Operating Expense $416,500 $416,500 $419,210 $433,177 $435,982 $450,607 $453,510 $468,824 $471,830 $474,888
Net Operating Income $1,007,500 $1,210,500 $1,240,330 $1,259,554 $1,290,603 $1,310,511 $1,342,829 $1,363,443 $1,397,082 $1,431,402
Effective Gross Income vs Operating Expenses Cash Flow
Normandy Adult Living Facility Cash Flow Analysis | 11
Calendar Year CURRENT Pro Forma Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Financial MetricsCash on Cash Return b/t 20.56 % 24.70 % 25.31 % 25.71 % 26.34 % 26.75 % 27.40 % 27.83 % 28.51 % 29.21 %
CAP Rate 20.56 % 24.70 % 25.31 % 25.71 % 26.34 % 26.75 % 27.40 % 27.83 % 28.51 % 29.21 %
Operating Expense Ratio 29.24 % 25.59 % 25.26 % 25.59 % 25.25 % 25.58 % 25.24 % 25.58 % 25.24 % 24.91 %
Gross Multiplier (GRM) 3.44 3.01 2.95 2.89 2.84 2.78 2.73 2.67 2.62 2.57
Breakeven Ratio 29.25 % 25.60 % 25.26 % 25.59 % 25.25 % 25.59 % 25.25 % 25.59 % 25.25 % 24.91 %
Price / SF $700.00 $700.00 $700.00 $700.00 $700.00 $700.00 $700.00 $700.00 $700.00 $700.00
Price / Unit $148,485 $148,485 $148,485 $148,485 $148,485 $148,485 $148,485 $148,485 $148,485 $148,485
Income / SF $203.42 $232.42 $237.07 $241.81 $246.65 $251.58 $256.61 $261.75 $266.98 $272.32
Expense / SF $59.50 $59.50 $59.88 $61.88 $62.28 $64.37 $64.78 $66.97 $67.40 $67.84
Normandy Adult Living Facility Disposition Sensitivity Analysis | 12
5 YEAR SENSITIVITY ANALYSISEXIT CAP RATE PROJECTED
SALES PRICESALES
PRICE/UNITSALES PRICE PSF PROCEEDS AFTER
LOAN PAYOFFIRR
0.25% $516,241,298 $15,643,676 $73,749 $516,241,298 161.39%
0.50% $258,120,649 $7,821,838 $36,874 $258,120,649 129.41%
0.75% $172,080,433 $5,214,559 $24,583 $172,080,433 112.84%
1.00% $129,060,325 $3,910,919 $18,437 $129,060,325 101.97%
1.25% $103,248,260 $3,128,735 $14,750 $103,248,260 94.04%
1.50% $86,040,216 $2,607,279 $12,291 $86,040,216 87.86%
1.75% $73,748,757 $2,234,811 $10,536 $73,748,757 82.85%
2.00% $64,530,162 $1,955,459 $9,219 $64,530,162 78.66%
2.25% $57,360,144 $1,738,186 $8,194 $57,360,144 75.09%
10 YEAR SENSITIVITY ANALYSISEXIT CAP RATE PROJECTED
SALES PRICESALES
PRICE/UNITSALES PRICE PSF PROCEEDS AFTER
LOAN PAYOFFIRR
0.25% $572,560,610 $17,350,322 $81,794 $572,560,610 67.90%
0.50% $286,280,305 $8,675,161 $40,897 $286,280,305 58.16%
0.75% $190,853,537 $5,783,441 $27,265 $190,853,537 52.94%
1.00% $143,140,152 $4,337,580 $20,449 $143,140,152 49.47%
1.25% $114,512,122 $3,470,064 $16,359 $114,512,122 46.91%
1.50% $95,426,768 $2,891,720 $13,632 $95,426,768 44.91%
1.75% $81,794,373 $2,478,617 $11,685 $81,794,373 43.28%
2.00% $71,570,076 $2,168,790 $10,224 $71,570,076 41.92%
2.25% $63,617,846 $1,927,814 $9,088 $63,617,846 40.76%
Normandy Adult Living Facility Demographics | 13
POPULATION 1 MILE 3 MILE 5 MILE
2000 Population 17,465 92,132 278,792
2010 Population 15,289 91,420 279,952
2019 Population 16,458 100,344 310,927
2024 Population 17,282 105,848 328,986
2019 African American 824 11,393 104,167
2019 American Indian 54 278 1,115
2019 Asian 297 1,877 5,223
2019 Hispanic 11,879 56,913 140,360
2019 Other Race 704 3,153 12,071
2019 White 14,064 80,767 177,771
2019 Multiracial 506 2,833 10,453
2019-2024: Population: Growth Rate 4.90 % 5.35 % 5.70 %
2019 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE
less than $15,000 898 5,794 20,225
$15,000-$24,999 803 4,814 14,599
$25,000-$34,999 630 3,841 12,395
$35,000-$49,999 1,248 5,857 17,378
$50,000-$74,999 1,179 7,460 20,728
$75,000-$99,999 898 4,698 12,708
$100,000-$149,999 591 5,556 14,429
$150,000-$199,999 324 2,442 5,807
$200,000 or greater 648 5,290 9,927
Median HH Income $50,438 $56,625 $49,426
Average HH Income $82,910 $95,821 $79,942
HOUSEHOLDS 1 MILE 3 MILE 5 MILE
2000 Total Housing 7,883 52,014 136,211
2010 Total Households 6,772 42,378 115,974
2019 Total Households 7,218 45,750 128,196
2024 Total Households 7,540 47,967 135,438
2019 Average Household Size 2.27 2.19 2.38
2000 Owner Occupied Housing 2,585 19,786 50,141
2000 Renter Occupied Housing 4,611 21,803 63,445
2019 Owner Occupied Housing 2,310 19,589 49,473
2019 Renter Occupied Housing 4,907 26,161 78,723
2019 Vacant Housing 1,280 16,559 33,816
2019 Total Housing 8,498 62,309 162,012
2024 Owner Occupied Housing 2,473 20,927 52,947
2024 Renter Occupied Housing 5,066 27,040 82,491
2024 Vacant Housing 1,299 17,068 34,363
2024 Total Housing 8,839 65,035 169,801
2019-2024: Households: Growth Rate 4.40 % 4.75 % 5.55 %
Source: esri
Normandy Adult Living Facility Demographics | 14
2019 POPULATION BY AGE 1 MILE 3 MILE 5 MILE
2019 Population Age 30-34 1,177 6,676 24,832
2019 Population Age 35-39 1,295 7,086 23,384
2019 Population Age 40-44 1,287 7,002 20,633
2019 Population Age 45-49 1,364 7,562 20,893
2019 Population Age 50-54 1,198 7,249 19,972
2019 Population Age 55-59 1,217 7,250 20,469
2019 Population Age 60-64 1,047 6,625 18,797
2019 Population Age 65-69 857 5,765 15,920
2019 Population Age 70-74 651 4,671 12,286
2019 Population Age 75-79 413 3,428 8,868
2019 Population Age 80-84 293 2,473 6,003
2019 Population Age 85+ 271 3,046 6,827
2019 Population Age 18+ 13,530 82,239 251,269
2019 Median Age 41 44 39
2019 INCOME BY AGE 1 MILE 3 MILE 5 MILE
Median Household Income 25-34 $46,898 $52,739 $50,696
Average Household Income 25-34 $71,496 $77,083 $71,627
Median Household Income 35-44 $52,888 $64,315 $56,591
Average Household Income 35-44 $87,745 $106,477 $90,621
Median Household Income 45-54 $64,908 $77,890 $62,460
Average Household Income 45-54 $108,620 $128,515 $104,055
Median Household Income 55-64 $54,431 $60,887 $50,937
Average Household Income 55-64 $89,976 $105,563 $84,554
Median Household Income 65-74 $44,620 $52,438 $39,621
Average Household Income 65-74 $69,493 $83,406 $66,482
Average Household Income 75+ $50,466 $62,415 $51,453
2024 POPULATION BY AGE 1 MILE 3 MILE 5 MILE
2024 Population Age 30-34 1,266 7,233 25,848
2024 Population Age 35-39 1,218 6,819 23,924
2024 Population Age 40-44 1,279 7,147 23,045
2024 Population Age 45-49 1,280 7,048 20,827
2024 Population Age 50-54 1,325 7,442 20,800
2024 Population Age 55-59 1,221 7,241 20,101
2024 Population Age 60-64 1,150 7,047 19,907
2024 Population Age 65-69 988 6,444 17,872
2024 Population Age 70-74 781 5,483 14,613
2024 Population Age 75-79 531 4,251 10,909
2024 Population Age 80-84 344 3,007 7,297
2024 Population Age 85+ 299 3,359 7,465
2024 Population Age 18+ 14,286 87,167 266,693
2024 Median Age 42 44 40
2024 INCOME BY AGE 1 MILE 3 MILE 5 MILE
Median Household Income 25-34 $54,027 $61,196 $59,170
Average Household Income 25-34 $84,595 $91,362 $85,013
Median Household Income 35-44 $65,100 $76,672 $66,595
Average Household Income 35-44 $104,069 $121,176 $103,301
Median Household Income 45-54 $75,082 $90,788 $74,067
Average Household Income 45-54 $122,473 $144,090 $118,636
Median Household Income 55-64 $63,242 $73,414 $59,562
Average Household Income 55-64 $105,245 $123,750 $100,309
Median Household Income 65-74 $52,812 $58,902 $46,128
Average Household Income 65-74 $83,018 $96,593 $77,475
Average Household Income 75+ $61,178 $73,067 $60,712
Normandy Adult Living Facility Demographic Charts | 15
1 Mile Radius 3 Mile Radius 5 Mile Radius
2019 Household Income
1 Mile Radius 3 Mile Radius 5 Mile Radius
2019 Population by Race
Normandy Adult Living Facility Demographic Charts | 16
2019 Household Occupancy - 1 Mile Radius
Average Income Median Income
2019 Household Income Average and Median
Normandy Adult Living Facility
Exclusively Marketed by:
Mindy Kurkin
(305) [email protected]
Yaacov Poston
(305) [email protected]
Samuel Heskiel
(786) [email protected]
Shlomo Poston
(305) [email protected]
Marilina ApfelbaumLicensed Real Estate Associate
(786) [email protected]
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