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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

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
27-30-11-000000-014030
Land Assessment
$270,468
Improvements Assessment
$2,751,548
Total Assessment
$3,022,016
  • Listing ID: 33535043

  • Date on Market: 10/16/2024

  • Last Updated:

  • Address: 12 E Grove Ave, Lake Wales, FL 33853

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