Value-Add Former Nursing Home With 86 Private Rooms

The House of Loreto Nursing Home is the rare opportunity to own a value-add former nursing home in one of the largest nursing home markets in the country. Established in 1963, the nursing home business was capable of 24 hour care and specialized in skilled nursing, long term care, and short term rehab. The sale of this asset includes the 2 floor ~56,170 sqft main building, and the 4,072 sqft garage/storage space. The property is tax-exempt, with a potential to transfer the same benefits to the new buyer. Within the main building, there are currently 86 private rooms. The facility offering 100% private rooms is a key competitive advantage in the local nursing home market. On-site amenities for residents included a beauty/barber ship, dental office, medical space, and chapel/assembly area. In addition, the property is fully equipped with over a million dollars in fixtures, furniture, and equipment included in the sale. The Subject Property uniquely resides in a state whose Governor have pushed for more private rooms in the nursing home industry. The property is near Cleveland Clinic Mercy Hospital, Aultman Hospital, and Malone University. The property is accessible via I-77, Route 30, and Route 62.