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10171 Papa George St - Baldwin House | 30-Unit Independent Living 23,124 SF Health Care Building Offered at $5,250,000 at a 10.17% Cap Rate in Daphne, AL 36526
INVESTMENT HIGHLIGHTS
- For Sale or Lease | Open to All Offers | Seller Financing Available | Lease with Option to Buy | Real Estate Included | 30-Unit ILF on 1.5 Acres
- Stabilization above 90% occupancy projected by the end of 2025 | Upon stabilization, revenue is projected to be $1,100,000 with a NOI of $534,000
- Baldwin County is the second fastest growing county in Alabama and the seventh fastest growing metro area in the US
- Converted from an Assisted Living Facility on May 1, 2025 | Operating revenue for 2025 is projected to be $920,000 with a NOI of $283,000
- Garden Studio Unit @ 445 SF (12 Units) - $2,750/month; Garden Suite Units @ 557 SF (18 Units) - $3,250/month
- Daphne-Fairhope-Foley, AL is the 6th fastest growing MSA in the US based on 2023-2024 population
EXECUTIVE SUMMARY
The Niel Group is pleased to exclusively present for sale or lease, Baldwin House (https://baldwinhouseresidences.com/), a thirty-unit independent living facility located in Daphne, AL (Baldwin County). Baldwin House is ideally located just south of Interstate 10 off of the Spanish Fort/Hwy 181 exit in the prestigious Historic Malbis community. Situated on a 1.5-acre corner site, Baldwin House was built in 2000, has 23,124 SF under roof, and offers its residents a unique and enjoyable independent living experience. Equipped with garden studio and garden suite units, a commercial kitchen, dining hall, wellness and activities program, and staff to handle all of residents’ needs, Baldwin House is a full-service facility that allows its residents to live their desired lives. Management converted operations from a 44-bed assisted living facility to an independent living facility on May 1, 2025 to better align with market demand dynamics and increase profitability. Having achieved more than 70% occupancy as of 8/5/25, Baldwin House is well positioned to reach stabilization by the end of 2025. Operating revenue for 2025 is projected to be $920,000 with a NOI of $283,000. Upon stabilization, revenue is projected to be $1,100,000 with a NOI of $534,000. Home to the Eastern Shore of Mobile Bay and 32 miles of beaches that line the Gulf of America, Baldwin County is the second fastest growing county in Alabama and the seventh fastest growing metro area in the US. Daphne-Fairhope-Foley, AL is the 6th fastest growing MSA in the US based on 2023-2024 population growth of 3% and is the 7th fastest growing MSA in the US based on 2010-2020 population growth of 27.2%.
FINANCIAL SUMMARY (PRO FORMA - 2026) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$1,100,000
|
$47.57
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$1,100,000
|
$47.57
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$566,000
|
$24.48
|
| Net Operating Income |
$534,000
|
$23.09
|
FINANCIAL SUMMARY (PRO FORMA - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $1,100,000 |
| Annual Per SF | $47.57 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $1,100,000 |
| Annual Per SF | $47.57 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $566,000 |
| Annual Per SF | $24.48 |
| Net Operating Income | |
|---|---|
| Annual | $534,000 |
| Annual Per SF | $23.09 |
PROPERTY FACTS
AMENITIES
- Smoke Detector
ROOM MIX INFORMATION
| DESCRIPTION | NO. BEDS |
|---|---|
| Garden Studio | 1 |
| Garden Suite | 1 |
1 1
PROPERTY TAXES
| Parcel Number | 32-07-35-0-000-001.148 | Improvements Assessment | $558,660 (2024) |
| Land Assessment | $72,100 (2024) | Total Assessment | $630,760 (2024) |
PROPERTY TAXES
Parcel Number
32-07-35-0-000-001.148
Land Assessment
$72,100 (2024)
Improvements Assessment
$558,660 (2024)
Total Assessment
$630,760 (2024)
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10171 Papa George St - Baldwin House | 30-Unit Independent Living
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