Property Overview : 601 Coleman Street in Hapeville, Georgia, is a 7,500-square-foot, 30-bed personal care facility. The property is secured by a 10-year triple net (NNN) lease, ensuring stable and long-term income. There is also an opportunity to acquire the operating business, offering additional revenue potential. The property is strategically located in a growing submarket of Fulton County, with ongoing economic development initiatives supporting demand for senior housing.
Market Analysis: Hapeville is undergoing significant redevelopment, with major mixed-use and residential projects increasing demand for senior care facilities. The area is home to 12 senior living communities, with average personal care facility costs at approximately $3,305 per month, positioning this property competitively within the market. The facility benefits from proximity to key healthcare providers, retail centers, and major transportation routes.
Financial Highlights
Asking Price: $1,500,000
Net Operating Income (NOI): $144,685
Cap Rate: 9.65%
Lease Type: Triple Net (NNN)
Building Size: 7,500 SF
Lot Size: 0.69 Acres
Year Built: 1989
Investment Rationale :This property presents a strong investment opportunity with a stabilized asset and long-term NNN lease. The 9.65% cap rate offers a solid return in a high-demand sector. The potential acquisition of the operating business further enhances investment value, providing direct entry into the personal care market. Hapeville’s ongoing development and increasing population density support the long-term viability of senior care facilities.
Key Investment Highlights
Long-term lease in place.
Strong 9.65% cap rate with stable income.
Opportunity to acquire the operating business for additional revenue.
Located in a high-growth area with major redevelopment projects.
Competitive market positioning within the personal care sector.
Close proximity to healthcare providers and major transit routes.
Turnkey investment with an established tenant and business operation.
Conclusion: 601 Coleman Street is a strategically located, income-producing personal care facility with a long-term lease in place. With a competitive cap rate and the possibility of acquiring the operating business, this property is positioned as a strong investment in a growing market. Serious investors and brokers seeking stable returns in the senior housing sector should consider this opportunity.