807 Bank StDecatur, AL 35601

Property Details for 807 Bank St

Year built

1985

Construction

WOOD

Lot size

3.00 AC

Property size (Sq ft)

80,424 SF

Property type

Healthcare properties

Property subtype

Assisted living facilities

APN

03-04-18-1-028-009.000

APU

304181028009000

Description

City Center Village, a 104-unit independent living facility in Decatur, Alabama, presents a compelling value-add opportunity. This 82,060 square foot property, situated on a 2.88-acre lot in the historic downtown area at 807 Bank St, 35601, is a single, two-story building constructed in 1985 and renovated in 2015. Currently operating at 83% occupancy, the property features 109 beds across three spacious floor plans designed to meet diverse resident needs. Rental rates are significantly below market, offering substantial upside potential. Specifically, independent living rental rates are 47% below market, and an additional 20 units are currently used for short-term rentals (2-12 months) at rates 53% below market value if leased as independent living units. Decatur's revitalized downtown, coupled with its strong economy and strategic location, provides a favorable investment climate. The city's commitment to infrastructure improvements and business development further enhances its attractiveness as an investment destination. This fee-simple ownership opportunity offers significant potential for increased revenue and profitability through market rate adjustments and operational improvements. The property's strong location within a thriving community, combined with its below-market rents, makes it an attractive investment for those seeking value-add potential in the senior living sector.

• CAP approach

  CAP return

  Valuation

  6%

  $16,627,301

  6.5%

  $15,348,278

  7%

  $14,251,972

• Comparable approach

  Method

  Valuation

  Relative Method

  $15,065,303

  Geo Method

  $18,040,632

• Alternative Use

  Use

  Valuation

  Residential

  $19,469,938

  Hospitality

  $17,834,358

  Educational

  $14,837,977

  Medical

  $15,348,278

  Retail

  $23,081,298

Location Insight

City

Decatur

County

Morgan

State

Alabama

Latitude

34.6138

Longitude

-86.9847

CBSA code

19460

CBSA name

DECATUR, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].