Former Nursing/Asst. Living/ Rehab Home in Texas, Repo

Placed in Commercial |

Description (revised)

Item Specifics - Commercial Real Estate
Type:
Asst Living/Rehab/ Apts
Sq Footage (Sq. ft.):
31132.00

Property Address:
400 S. Bond Street
Year Built:
1962

City:
Whitewright
Lot Size (acres):
2.75

State/Province:
Texas
Availability:
For Sale

Zip/Postal Code:
75491

Display Map

Neighborhood Profile

MapQuest.com, Inc. and Sperling’s BestPlaces (Fast Forward, Inc.) are solely responsible for the content available via the above links.

This is the site of a former nursing home, rehab and care center that provided full-time living and transitional care from surgery, therapy and wellness. The facility is located at 400 S. Bond Street, Whitewright, Texas 75491 which is All of Block 19, located in Grayson County, with MAP REFERENCE: CG-114-F. This is about 45 minutes north outside of Dallas.

We have just completed the foreclosure and motivated to sell. Appraisal information is below and full appraisal available upon request by email to MROLON3@yahoo.com . It has and will be transferred with free and clear title and being sold in “as-is” condition as needs some rehab work to get up and running again. Can easily convert to apartments. This is a great redevelopment opportunity. There is no medicare facility in the county. There is great profit to be made here. Serious buyers should call for appt. and bring your offer. Be ready to act as wish to close quickly.

The property is VACANT and needs some rehab work. You can use as you desire. It is not up and running, you can make it that way again. The former facility was closed due to corporate decision and there were no licensing or compliance issues that we are aware of.

The facility was built in 1962. The facility is built on a concrete slab, with a brick exterior, a composition roof, gutters and downspouts, metal windows, and metal exterior doors. The interior is finished in commercial grade vinyl and carpet, sheetrock walls and ceiling and tile bathrooms. The subject is in average condition with some updating. It is structurally sound. It has a sprinkler system throughout the building.

The center is 31,132sf, single story on a 120,000sf lot. There are 75 bedrooms with a bathroom ( no shower) connecting each two bedrooms. There are many common showering bathrooms throughout. Each bedroom has windows to let the natural light in when desired. Several large multi-purpose rooms can be utilized for groups, meetings, or special events. There are rooms available for therapy, religious service, meals, laundry and more. There are nurse stations in all zones (areas).

The previous facility floor plan is available by email request and shows their use for rooms.

There are 3 wood storage sheds which are 147 SF, and 240 SF, and 85 SF. There is a large lighted professional sign on the main corner. There is 32,112 SF of concrete parking lots and walkways, and some grass and shrubbery. Plenty of room for residents , families and/or employees to park.

The site is rectangular in shape and has approximately 400’ of frontage the south side of Pine Street and the north side of Oak Street and 300’ along Sears Street on the west , and Bond Street on the east. Access to the property is provided by Bond Street to the east. US Highway 69 to the south. US Highway 69 runs north west to Sherman and southeast to Greenville.

According to the FEMA Flood maps, Panel #48085CO245D, dated 5-18-92, no portion of the subject property lies within a flood zone.

The property is zoned MF (multi-family). Additional uses include but not limited to apartments, hotel, retreat center, school, medical/dental offices and daycare( adult or children).

A public supplier provides Whitewright with electrical power, TXU Gas Company provides natural gas, Southwestern Bell provides telephone service, and the City of Whitewright provides sewerage treatment/disposal and water. Garbage and Trash collection is provided by the City of Whitewright.

The taxes for 2008 are approximately $2,736.36.

HIGHEST AND BEST USE:

As Vacant: Hold as an investment or develop for a user anticipating a good return or investment.

As Improved: Develop to a similar use

PREPARED AS OF: FEBRUARY 3, 2007

COMPLETE SUMMARY APPRAISAL REPORT

VALUE INDICATIONS OF THE SUBJECT PROPERTY, “AS IS”

Cost Approach: $2,866,000

Sales Comparison Approach: $2,802,000

Income Approach: $2,736,000

MARKET VALUE OPINION: $2,800,000

If you want to schedule a showing or simply want more information, please do not hesitate to contact Max Rolon at 626-833-5351 directly.
Below in information about the city and surrounding area:

General Description

Whitewright is located in southeastern Grayson County along Highway 160. Grayson county population is 125,000+. It lies 45 miles northeast of downtown Dallas and 20 miles northeast of downtown McKinney, the fastest growing city in the state. The close proximity to Dallas, and the DFW International Airport offers easy access to all parts of the Metroplex, Texas, the USA and the World.

The subject market area boundaries are defined as being SH 121 to the south, US Hwy 75 to the west, and Highway 82 to the north, and Fannin County to the east.

There are a number of shopping areas, service stations, commercial and office buildings, medical facilities, malls, social facilities, museums, historical landmarks, and houses of worship in Grayson County.

The subject is located within the Whitewright Independent School District which has a good reputation with State and Federal educators. Grayson County offers a Community College with a well-rounded curriculum. Austin College is located in Sherman. There are also major colleges and universities available to area residents in Dallas, Fort Worth, Richardson, Arlington, Denton and Commerce. There are also a number of trade and service schools in the area.

The area lake is Lake Texoma. This lake provides boat and fishing facilities, water recreation areas, and public parks.

Transportation

DFW International Airport, the third busiest in the world, is located approximately 45 miles southwest. Additional airports including Dallas Love Field, Alliance Airport, and many other smaller airports located close to Whitewright.

Conclusion

In conclusion, Whitewright is perceived as a rapidly growing community with good access to Metropolitan Dallas/Fort Worth. It provides residents with a good quality of life, excellent schools, and good access to higher education. The area has a very stable employment base and an excellent government and community service organization. The overall outlook for Prosper is very promising.

RELATED ARTICLE(S)

Texas Ranch Land, Nr El Paso, 20 Acres. Bid and Assume
Live the Legend of the West....on your own ranch! Only 25 miles east from downtown El Paso and 5 miles from Interstate 10. Imagine...fresh air, wide-open spaces, clear blue skies and panoramic mountain views. Imagine the...
“NEW” 2001 FLEETWOOD MFG HOME SALES CENTER MODEL
NEW 2001 FLEETWOOD MANUFACTURED HOME SALES CENTER MODEL 26'.4" x 52'0" 1,372 Square Feet WINDZONE 1 THERMAL ZONE 2 NEVER SOLD! OPTIONS INCLUDED: APPLIANCE PACKAGE INCLUDES 18' F/F W/ICE MAKER, DISHWASHER, DELUXE RANGE PREMIER PACKAGE TO INCLUDE DELUXE CABINET DOORS, WHITE LINED BASE SHELVES,...
Water Front Lake Lot Four Seasons Ozarks Land Property
American Land Company Presents Four Seasons, Missouri at beautiful Lake of the Ozarks Lake of the Ozarks has been receiving A LOT of national attention lately due to it's phenomenal GROWTH! Southern Living Magazine© & Good Morning America...
7500 sq foot steel building with living quarters
Property located in stanton ky near lexington and mt. sterling just off int. 64 commercial or residential no zoning restrictions!!!!!!!!!! where do i start i have a 7500 sq. foot building...
Lake Tahoe 2 Bedroom Floating Season Timeshare for Sale
This beautifully appointed vacation home is in the resort's “Floating” system, which means that each year when you call to choose your week you will then be assigned your unit, but you will always get...

Bookmark! Stumble It! Del.icio.us! Digg! Advertise