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
PREMIER TEXAS HEALTHCARE INVESTMENT: Operational Assisted Living Facility with Expansion Land & Separate Historic Campus.
A rare opportunity to acquire a specialized, purpose-built healthcare operation located on 3.5 acres of coastal real estate in Galveston, TX, one block from the beach and minutes from the University of Texas Medical Branch (UTMB).
Property 1: Tideway Assisted Living Facility (Operational)
This $\pm 28,961$ SF Type B Assisted Living facility was constructed in 2003 for the specialized, long-term care of individuals with Traumatic Brain Injuries (TBI).
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Existing Operation: Fully licensed for 32 beds, currently operating at 69% occupancy (22 residents), generating substantial projected gross revenue of $\sim \$3.9$ million in 2025.
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Specialized Care: Designed for person-centered care with quad-style living quarters (24 individual units across four pods), professional offices, and a commercial kitchen. It serves a regional need for long-term TBI care.
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Significant Upside: The sale includes referral network training and guidance from the Moody Neurorehabilitation Institute to help new owners increase occupancy by targeting the TBI caseworker network.
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Expansion Potential: Underutilized space (including an indoor therapy pool/aquatic wing) offers repurpose opportunity. The remaining $\pm 1.5$-acre pad site is ideal for a "Continuum of Care" expansion (Independent Living, Memory Care, Skilled Nursing) or alternative uses like multi-family/condominiums.
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Location Advantage: Situated next to Galveston Beach in a key coastal resort city, leveraging Galveston’s robust health care and tourism economy.
Property 2: Former Post Office Street Facility (Vacant)
Also available is the Owner’s former $\pm 45,939$ SF licensed 32-bed care facility at 1528 Post Office Street (Asking: $5,000,000). This unique property encompasses an entire 1.79-acre city block in the historic district near The Strand.
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Versatile Use: Well-suited for senior care, student housing (near UTMB), transitional living, artist colony, school, or gymnasium/recreation facility.
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Historic Location: Steps from Galveston’s major tourism hub, shopping, and entertainment.
This offering provides immediate revenue from the operational facility, significant growth potential through occupancy and expansion, and a rare strategic location in a growing Texas market.
Quick Glance
- Listing ID:
CL-Texas-26140
- Status:
Active
- Year Build:
2003
- Building Size:
28,961 SqFt
- Lot Size:
N/A