Assisted Living Feasibility Study in Ohio

The lowest concentration among its peers, with a typical ticket

Ohio's assisted living record is defined by how little of the state's lending it represents. The location quotient is 0.21x, and the class ranks only 24 of 39 among asset classes in Ohio, yet the state sits 17 of 50 for assisted living homes without on-site nursing on raw volume. Those two positions fit together: Ohio is a large lending market in which care homes are a thin slice. The files for FY2017 through FY2026 hold 30 such loans, totalling $42.0 million gross. Loan size tracks the nation closely: the $734,300 median stands at 0.97x the benchmark for assisted living elsewhere, and half of all loans fall from $292,500 to $2.1 million, a wide band that covers small conversions and purpose-built homes alike.

Who lends, and where

Of the 30 loans, 22 are 7(a) and 8 are 504, a heavier fixed-asset share than many classes show, and franchise brands hold only 6.7%. Alloy Development Co., Inc. leads the 504 sponsors with 5 loans and $9.5 million. Hamilton County has 6 loans and Cuyahoga 5; Clermont, Lake and Warren have 3 each, Butler, Franklin, Montgomery and Stark have 2 each, and Geauga has 1. The southwestern and northeastern corners therefore carry the class. Yearly counts are lumpy: 7 in FY2018, none in FY2019, and 8 in FY2025. A sponsor should expect approvals to come in clusters, not a steady stream.

Coding limits and withheld outcomes

Just one kind of home is coded separately, meaning homes where nursing is not provided on the premises. Memory care has no code, and homes offering nursing are filed in the two skilled nursing classes, so a blended-service project belongs partly on those pages. No cancellation or charge-off rate is printed for Ohio, because each cohort holds fewer than 30 loans; the blank is not a zero, and rates published elsewhere are floors.

What an Ohio assisted living study has to test

Because care homes weigh so little in Ohio lending, a study cannot lean on a crowd of nearby comparables, and it should say which private-pay households it expects to draw: age, assets and income within a realistic drive of the site. The competitive census matters as much, counting licensed beds in homes already open and any under construction. Budget lines should be set beside a $734,300 median, with land and building apart from furnishings and licensing costs. Debt service coverage has to be shown after a lease-up to stabilised occupancy, with a slower case beside it. Appraisers value a home by licensed beds and what they earn, so the study's revenue assumptions must be ones an appraiser can follow.