Listing Summary
Tideway Assisted Living Facility in Galveston, TX, is a +/-28,961 SF facility with room for expansion located on 3.5 acres next to Galveston Beach.
Full Description
Rare Coastal Healthcare Acquisition: Licensed 32-Bed TBI/Assisted Living Facility on 3.5 Acres in Galveston
Acquire the Tideway Assisted Living Facility, a specialized, purpose-built $\pm 28,961$ SF Type B Assisted Living facility currently operating as a licensed 32-bed long-term care center for individuals with traumatic brain injuries (TBI). This established, fully operational asset is uniquely positioned on 3.5 acres of coastal real estate, just one block from Galveston Beach.
Key Investment & Operational Advantages:
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Specialized Service Demand: The facility holds a niche market serving TBI residents, with a strong referral foundation from the Moody Neurorehabilitation Institute. Significant upside potential exists by implementing an external marketing strategy to increase the current 69% occupancy (22 residents).
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Financial Performance: Projecting $3,936,466 in gross revenue for 2025 (based on seven months of data).
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Significant Expansion Potential: The property includes a remaining $\pm 1.5$-acre Pad Site ideal for a Continuum of Care expansion (Independent Living, Memory Care, Skilled Nursing) or alternative commercial development (Retail, Condominiums, Multi-Family).
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Underutilized Space: Offers substantial repurpose opportunity via a dormant therapy and aquatic wing (including an indoor pool) and additional office space.
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Turn-Key Transition: The sale includes staff support and guidance from Moody Institute to build TBI caseworker referral relationships.
Prime Location:
Located minutes from the University of Texas Medical Branch (UTMB), the facility capitalizes on Galveston's robust healthcare economy and appeal as a retirement and resort destination (The Seawall, Moody Gardens, The Strand).
Note: The separate, vacant $\pm 50,000$ SF "Post Office" property (40 beds, historic district, $5M asking price) is also available for a multi-asset purchase.
Quick Glance
- Listing ID:
CL-Texas-27159
- Status:
Active
- Year Build:
2003
- Building Size:
28,961 SqFt
- Lot Size:
3.50 Acre