Senior Housing and Assisted Living Facilities for Sale in Texas

Haven Senior Investments is proud to present a 33,981 sq. ft. medical hospital building constructed in 2009. It was operated as a hospital under several different names until around 2019 when it was re-marketed as a medical office building. The first floor was reconfigured from a food service/patient service area to an office for a physician group. The current tenant’s lease will terminate soon and food service, patient waiting room, and emergency room area could easily be restored. The second and third floors comprise 23,824 sq. ft. and remain outfitted as hospital rooms (single and double occupancy) many rooms with furniture and fixtures remaining. Each room has a restroom/lavatory area, and closet. There are valves in the walls of each room for oxygen plus two other features. Most all patient rooms are on the window walls of the building with support room facilities in the inner core of the floor. There are multiple nurse stations on each floor and mail stations with securable file cabinetry, monitoring screens for each room, and telephone lines. Each of the two floors has office rooms for support staff, x-rays, and other ancillary functions central to the support of a hospital environment. There is one public elevator and one freight elevator that service the three-story building. The building has an external stairway for fire protection and an internal sprinkler system and hoses on each floor. There are lockable doors to secure one-half of each floor to separate from the other half of the floor. The condition of the flooring, walls, paint, ceilings, etc. would be considered exceptional considering the time it has sat without occupancy. The leasing market in this area has been such that the cost of converting the hospital rooms to office space was greater than could be justified by the office rental rate. This has contributed to the opportunity that is now at hand for the right operator. Modifications to ready the building for a new rehab or small hospital use would be far easier than any conversion of a building used previously for other purposes.

ID#043204    Approximate Beds/Units:     Location:  Kerrville

Another firm is pleased to introduce the fee simple ownership of an Assisted Living Facility. The Community is a 2012 vintage 53-unit/57-bed Assisted Living and Memory Care community in Kerrville, TX, approximately 65 miles northwest of downtown San Antonio. The community has experienced favorable rate increases over the last few years. From 2022 to May 2024, the average AL room & board rate increased by 9.28%. A new investor has the opportunity to build upon the existing momentum and strong financial foundation to reach peak NOI. On the revenue side, a new operator has the opportunity to lease up the Memory Care units and continue to push rental rates. On the expense side, maximizing the bottom line through implementing an efficient and sustainable staffing model and reducing turnover can be achieved. Many of the fixed expenses are well accounted for, as evidenced by the consistent growth in margin from 4.53% in 2023 to 22.23% on the T1, so incremental improvements to revenue and wage expenses will significantly boost NOI. Kerrville is known for its picturesque landscapes, mild climate, and quality of life, making it an attractive location for retirees. As the county seat of Kerr County, the city’s population is estimated at 25,167, marking a 3.4% increase from the 2020 recorded population of 24,337. Additionally, 27% of the population is age 65 or older, significantly higher than the national percentage of 17.3%, highlighting a substantial aging demographic within the community. About 41.6% of the population aged 65 or over either meet or exceed the Texas median income of $72,000, indicating a notable level of financial stability among Kerrville’s aging population. From 2020 to 2021, Kerrville experienced a notable employment increase, with the number of employees growing from approximately 9.94k to 10.3k, indicating a growth rate of 4.06%. The leading sectors employing Kerrville residents include Health Care & Social Assistance, Retail Trade, and Accommodation & Food Services. Specifically, Health Care & Social Assistance employs 2,088 individuals, the leading sector in the city.

ID#043203   Approximate Beds/Units:  71/67    Location:  Tomball

Another firm is pleased to introduce the fee simple ownership of an Assisted Living Facility. The Community is a 67-unit/71-bed Assisted Living and Memory Care community in Tomball, TX, only 34 miles northwest of downtown Houston. The community has experienced positive momentum over the last 24 months, realizing consistent occupancy growth since 2022. The community has also experienced considerable rate increases since 2022, increasing ~9.5%. An incoming operator has the opportunity to maximize revenues through continued rental rate increases and lease-up of the Assisted Living units. Expenses at the facility are stable, with differences between T12/6/3/1 never varying larger than 3%, while the margin has grown from 7.31% on a T12 basis to 11.61% on a T1 basis. As expenses remain stable and revenues continue to grow, additional income is projected to contribute significantly to bottom-line NOI.

ID#043202   Approximate Beds/Units:  16    Location: Near Houston

Another firm is pleased to introduce 16 Suite property in fabulous condition and ready for its next owner. They have decided to focus on  North Texas properties and list this property for sale. They acquired two properties out of Bankruptcy and spent over a year preparing them for licensing. The property had zero occupancy at the time of acquisition. The property is fully licensed as Class B Small Assisted Living with Alzheimer’s certification. These are well-designed and spacious properties. The property was appraised at more than $3,000,000. The EBITDA is projected to be approx. $325,000 property once stabilized.

ID#043199   Approximate Beds/Units:  50    Location: Katy

Another firm is pleased to introduce a 14,000 SF Memory Care Facility. INVESTMENT HIGHLIGHTS: Brand new 15-year Absolute NNN Lease with 7.5% rent increases every five years in both primary & renewal option periods. Alzheimer’s care is growing is currently undergoing expansion across the Houston and Dallas-Fort Worth MSAs. From 2010 to 2018, Houston added 1.1 Million new residents, an 18.2% Increase, the fastest rate among the largest U.S. Metros. The subject property is right off major roads in one of the most desirable Houston suburbs. Houston MSA’s population is 7.34M+

ID#043195   Approximate Beds/Units:  60    Location:   Arlington

Another firm is pleased to introduce a 29,226 SF former 60-Bed Memory Care Center in Arlington. This facility is priced at $75.27 PSF and has PD Zoning that allows all OC uses plus supervised living facilities.

ID#043194    Approximate Bed/Units:  148    Location:   Pasadena

Another firm is pleased to introduce a 63,535 SF Health Care Building with 148 beds in Pasadena. PROPERTY FACTS: Lot Size is 2.01 AC, Price Per Bed is $18,919, Building Size is 63,535 SF, Sale Type is Investment, No. Beds is 148, Property Type is Health Care, No. Stories is 2, Property Subtype is Assisted Living, Year Built is 1980, Building Class is “B”

ID#043191   Approximate Beds/Units:  TBD     Location: Sachse

Another firm is pleased to introduce a 14,000-square-foot, 16-bed, Assisted Living Property located in Sachse, Texas. The Property is a stand-alone senior care development. The property is surrounded by both single and multi-family residential developments. The Property was constructed in 2023 and will be in operation soon. The facility has a brand new 16-year personally guaranteed absolute net lease with built-in base rent escalations every 5 years, including 3, 5-year renewal options. There is a strong tenant profile as the Facility’s Alzheimer’s Care is growing its successful concept and currently undergoing expansion across Texas. The facility is surrounded by a dense housing market with strong median household incomes of $105,898 within 5 miles of the property and a population of nearly 136,100 residents within 5 miles of the property.

ID#043181   Approximate Beds/Units:  120     Location:  Jacksonville  

Another firm is pleased to introduce a 49,432 SF Health Care Building with 120 beds in Jacksonville, TX. This former licensed nursing facility was located just east of the downtown area along one of three major thoroughfares in Jacksonville, Texas. It was conveniently developed less than 10 minutes from two major hospitals, UT Health Jacksonville and Christus Mother Frances Hospital. This is an excellent value-add opportunity for an investor or owner-operator to acquire the asset. It is positioned in a market with nearly 18% of the population above the age of 65 and a strong employee base with 11.8% of workers in the healthcare and social assistance industry, the second-highest labor sector in the area.

ID#043173   Approximate Beds/Units:  40     Location:  Missouri City

Another firm is pleased to introduce this excellent opportunity to purchase an existing Assisted Living Facility. This property consists of two approximately 6,630 sq. ft bldgs (total 13,265 sq.ft.) sitting on 1.9 Acres near Missouri City, TX. The two buildings are currently licensed by the state of Texas as Small Type B facilities. The facility is licensed for 40 Beds. It has 20 rooms for patients along with 3 flex bedrooms for overnight staff. All Furniture, Fixtures, and Equipment currently on site are included in the sale. The building was designed in such a way that each holds two separate licenses with a firewall and kitchen separating the “A” and “B” sides. The campus is immaculate with thousands spent on the landscaping package to make them feel inviting for families. Each building has a commercial-grade kitchen. The current average monthly rate per bed per month is $4,000. The location is away from the street and the gated nature of the facility allows for safety for patients and their families. In addition, it’s located in a strong submarket in terms of retail, residential housing, and schools.

ID#043171   Approximate Beds/Units:  241     Location:  Tomball

Another firm is pleased to introduce a 10,190 SF Health Care Building with 241 beds offered at $3,820,000 at a 5.50% Cap Rate in Tomball, TX. There is an Absolute NNN Lease, fee simple ownership, and zero landlord responsibilities. The tenant has over 11.5 years of firm term remaining with 3 (5-year) option periods left to extend. The lease features 2% annual rental increases throughout the initial term and option periods, growing NOI, and hedging against inflation. The lease is personally guaranteed – tenant and guarantors are to report sales upon request. There is a well-known and established tenant.