155 Ridgefield Dr 27,592 SF Health Care Building Offered at $2,650,000 in Marion, VA 24354

Grey Ridge Village of Marion, VA is a 27,418 SF profitable assisted living facility that sits on 2.69 acres just off Interstate 81 in far Southwest Virginia. There are two buildings on this property, a smaller, totally renovated "front" building with 12 units and a larger "back" building with 51 units. The back building was built in 1982 and is in good physical condition with little deferred maintenance. The front building was built in 1987. These adjacent buildings are in a heavily developed area and do not have a interior connection. The units are private, semi-private and three-bed wardrooms. The building is protected by a wet sprinkler system plus smoke/heat detectors/alarms. The facility is served
by public water and sewer. The property is licensed as a Residential Care Home with mental health as well as geriatric residents. It has primarily served an Auxiliary Grant (Medicaid) population. This is a large, profitable "AG" facility with potential upside through continued increased census and increases in AG (Medicaid) reimbursement. There have been increases in the past. Great opportunity for owner operator to acquire this facility at a relatively low price point.