12 E Grove Ave - Prime 51 Bed ALF in the Heart of Lake Wales
25,666 SF Health Care Building Offered at $6,100,000 at a 17.49% Cap Rate in Lake Wales, FL 33853
INVESTMENT HIGHLIGHTS
- Prime 51 Bed ALF in the Heart of Lake Wales, FL
- 17% Cap Rate at Full Occupancy (Currently at 65%)
- Full Staff and Management Team in Place
- Real Estate + Business are Included with the Sale
- Rare and Desirable ALF License/Zoning as well as Generator Included
EXECUTIVE SUMMARY
Rare opportunity to own this Prime 51-bed Assisted Living Facility (ALF) located at 12 E Grove Ave in Lake Wales, FL. This sale includes real estate, the business, required licenses, and a generator. Currently operating at 65% occupancy at a 5.4% Cap Rate, this facility offers significant potential for increased profitability by filling vacancies and optimizing expenses to operate at a whopping 17% Cap Rate! This property also have the license to operate at 60 beds! Full staff and management in place! ALFs of this caliber rarely come to market—don’t miss out on this highly desirable investment opportunity!
PROPERTY FACTS
| Price | $6,100,000 |
| Price Per Bed | $119,608 |
| Sale Type | Investment or Owner User |
| Cap Rate | 17.49% |
| Property Type | Health Care |
| Property Subtype | Assisted Living |
| Building Class | B |
| Lot Size | 2.76 AC |
| Building Size | 25,666 SF |
| No. Beds | 51 |
| No. Stories | 1 |
| Year Built | 1998 |
| Parking Ratio | 1.02/1,000 SF |
ROOM MIX INFORMATION
| DESCRIPTION | NO. BEDS |
|---|---|
| Beds Available | 51 |
1 of 1
PROPERTY TAXES
| Parcel Number | 27-30-11-000000-014030 | Improvements Assessment | $2,751,548 |
| Land Assessment | $270,468 | Total Assessment | $3,022,016 |
