Assisted Living Facility Feasibility Study Completed Las Vegas, Nevada

LAGUNA BEACH, Calif. - March 29, 2024 - PRLog -- Translator

Wert-Berater, Inc. provided a feasibility study for the acquisition and repositioning of the Assisted Living Facility 3900 W Oakey Blvd, Las Vegas, NV 89102.

The client was seeking financing through the SBA 7(a) and SBA 504 programs.  The purpose of the acquisition was to update the facility and create a new bed mixture.

The Assisted Living Facility had 116 beds at the time of acquisition.  The purchase price was recorded at $9,450,000 or $81,466 per bed.

At the time of the feasibility study in December 2023, the Stabilized Market Occupancy was about 82.8% and Rent Growth was 10.8%.

The Las Vegas market bed absorption was 114 units and new construction was 168 beds.

Construction activity represented about 3.9% of existing bed inventory.  In Las Vegas, the average monthly bed rate was about $4,300 and the median property age was 14 years.  The median number of beds per property was 132.  In the submarket, there was 1,315 beds whereas, 1,100 were for Independent Living, 155 were Assisted Living beds and 60 were Nursing Care beds.

Based on our feasibility study, the Las Vegas Senior Care market is aging. There are opportunities for new construction and repositioning.

Wert-Berater, Inc. provides bankable feasibility studies for all types of Senior Housing projects nationwide and we serve SBA and USDA loan programs.

See more about our Senior Housing Feasibility Studies at: https://www.wert-berater.com/senior-housing-feasibility-studies