Former 34 bed Assisted Living in Florida
Possible workforce housing, assisted living
Marketing description
We offer 3% to a buyer's agent at close.
Looking for an affordable value add opportunity near the beach?
6800 SQ foot former 34 bed (12 bedrooms) assisted living home on 1 acre 30 minutes from beaches..
At sub $50 per square foot this has lots of upside for someone to build "sweat equity"
Pro forma NOI is based on someone rehabbing, re licensing, running alls ALF at full occupancy, $3k per month per person, 70 percent expense ratio.
It does NOT factor in rehab cost because that will vary. .. and will reduce the NOI figure- but there is a LOT of upside for someone with rehab experience.
Private setting yet 15 minutes to shopping and 30 minutes to beaches.
Golf course development nearby.
Needs full rehab but good potential. Roof 3 years old. Water active to property. Plenty of parking.
Possible uses are a home, group home, nursing home, assisted living etc.
May consider trade for free and clear property worth more.
No contract assignments in offers
Investment highlights
Low cost per square foot. Multiple possible uses. Near golf course development. Near beach/tourist area
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