A Unique Assisted Living and Development Opportunity in Galveston, TX
This is a rare opportunity to acquire Tideway Assisted Living, a fully operational and licensed 32-bed facility with significant potential for expansion. Situated on 3.5 acres next to Galveston Beach, this property is a prime investment in the city’s thriving healthcare and tourism economy.
The 28,961-square-foot facility was purpose-built in 2003 for specialized long-term care and is currently licensed for 32 beds, with potential to add more by repurposing a dormant therapy and aquatic wing. The facility has a home-like environment with 24 individual units across four pods, each with its own living and dining area. Other features include a commercial kitchen, professional staff offices, a walking trail, water views, and a community garden.
Growth and Development Potential
The property operates with an established referral network and is currently at 69% occupancy. A new owner has the potential to significantly increase revenue by implementing a targeted marketing strategy. The current owner is even offering to assist with training and guidance to help a new owner build relationships with referral sources.
With over 1.5 acres of undeveloped land, there is a perfect opportunity for a "Continuum of Care" expansion, including independent living, assisted living, memory care, and skilled nursing. The pad site can also be used for a retail, restaurant, or multi-family development.
Prime Location
Galveston is a popular coastal city and a major economic hub for healthcare and tourism. This property is just minutes from the beach and the University of Texas Medical Branch (UTMB), a major economic force in the city. Residents and guests will also be close to local attractions like The Seawall, The Strand, and Moody Gardens.
Additional Property For Sale
The owner is also offering their former headquarters for sale at 1528 Post Office Street. This 45,939-square-foot property occupies an entire city block on 1.79 acres in Galveston's historic district. This vacant property is well-suited for a wide variety of uses, including a school, a senior care facility, or multi-family housing. The asking price for this property is $5,000,000.