Evergreen Estates I, II, III & IV
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Evergreen Estates I, II, III & IV
4 Properties Offered at £4,308,150 in Cedar Rapids, IA
Investment Highlights
- Great Locations!
- Ownership can show at least 15% upside in Revenue
- Average Year Built: 1987
- 8.16% Cap Rate on Proforma in Year 2
- Capable of a 13.00% Cap Rate!
- 50 Employees
Executive Summary
Midwest Investment Brokers, LLC is the exclusive broker bringing to market Evergreen Estates I, II, III & IV. Evergreen Estates is a distinguished provider of residential care services, encompassing three locations and four facilities with an average year built of 1987. Established in 1993, these communities are locally owned and operated dedicated to comprehensive senior care. The organization offers studios and suites in three facilities along with a fourth building having twelve one-bedroom independent living units for a total of 125 units. These are designed to provide both security and community, allowing seniors to maintain independence while benefiting from a supportive and safe living environment. The facilities are equipped with a range of amenities, including an in-house chapel and nutritious, gourmet meals. Evergreen Estates is committed to delivering the comforts of home, with a focus on creating a welcoming atmosphere. Fully staffed with 50 employees this business and the portfolio is ripe for the next level.
Currently, Evergreen II is vacant and perfect for memory care with the market needing a more affordable product. This upside could add at least $135,000 to the bottom line at a 90% expense ratio for the new revenue. In addition, there are some efficiencies in the expenses that can further increase the cash flow.
The price of this investment includes both the business and the real estate. To view financials, a signed confidentiality agreement will be required.
Currently, Evergreen II is vacant and perfect for memory care with the market needing a more affordable product. This upside could add at least $135,000 to the bottom line at a 90% expense ratio for the new revenue. In addition, there are some efficiencies in the expenses that can further increase the cash flow.
The price of this investment includes both the business and the real estate. To view financials, a signed confidentiality agreement will be required.
Property Facts
| Price | £4,308,150 | Number of Properties | 4 |
| Price / SF | £39.83 / SF | Individually For Sale | 0 |
| Net Initial Yield | 8.16% | Total Building Size | 108,168 SF |
| Sale Type | Investment | Total Land Area | 2.87 AC |
| Status | Active |
| Price | £4,308,150 |
| Price / SF | £39.83 / SF |
| Net Initial Yield | 8.16% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 108,168 SF |
| Total Land Area | 2.87 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Evergreen Estates III
2204 2204 Johnson NW Ave, Cedar Rapids, IA 52405 |
Health Care | 50,000 SF | 1988 | - |
|
Evergreen Estates IV
2200 Johnson Ave NW ave, Cedar Rapids, IA 52405 |
Residential | 3,828 SF | 1988 | - |
|
Evergreen Estates I
3410 12th Ave SW ave, Cedar Rapids, IA 52404 |
Residential | 45,000 SF | 1984 | - |
|
Evergreen Estates II
307 Edgewood Rd SW rd, Cedar Rapids, IA 52404 |
Residential | 9,340 SF | 1987 | - |
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Evergreen Estates I, II, III & IV
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