1275 N Banana River Dr - Banana River Villas
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1275 N Banana River Dr - Banana River Villas
3,008 SF Health Care Building Offered at $799,000 at a 12.12% Cap Rate in Merritt Island, FL 32952
Executive Summary
Off Market!!! Reduced!!! Sellers Motivated!!! Property can be used for many other purposes for Commercial and Residential besides its current ALF use. Owners can relocate Residents if Buyer wishes to do something else like a Vacation Duplex, VRBO, Air BnB, Office Duplex, Commercial Offices with even Multi Family Potential with its unique Zoning. Prior to its current use, Property has been a Real Estate Office and also a School. Banana River Villas is currently a Senior Care ALF Home that is licensed for 6 Residents with an additional 1 bedroom, 1 bathroom Living Quarter with Private Kitchen & Living Room for Live-In Staff &/or Owner Operators. Its facility offers a comfortable homelike setting for Residents needing Assisted Living. Offering a "Worry Free" way of life through its All Inclusive Services & Amenities. The 5th Wheel Camper in the back conveys with the Subject Property. The property is Canal Frontage leading to the Banana River Lagoon, Indian River Lagoon and the Atlantic Ocean. One of the largest Facilities licensed for 6 Residents in Brevard County, It's situated near many landmarks and recreation the Space Coast offers. If you or your Buyer is interested in the property’s Business, the Income & Expenses from its 2021 IRS Filings & Current 2022 YTD P&L are available Upon Request & Signed NDA. Seeing is Believing!!!
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $799,000 | Building Class | C |
| Price Per Bed | $159,800 | Lot Size | 0.43 AC |
| Sale Type | Investment or Owner User | Building Size | 3,008 SF |
| Cap Rate | 12.12% | No. Beds | 5 |
| Sale Conditions | Auction Sale | No. Stories | 1 |
| Property Type | Health Care | Year Built | 1966 |
| Property Subtype | Assisted Living |
| Price | $799,000 |
| Price Per Bed | $159,800 |
| Sale Type | Investment or Owner User |
| Cap Rate | 12.12% |
| Sale Conditions | Auction Sale |
| Property Type | Health Care |
| Property Subtype | Assisted Living |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 3,008 SF |
| No. Beds | 5 |
| No. Stories | 1 |
| Year Built | 1966 |
zoning
| Zoning Code | Commercial-Duplex (Commercial) |
| Commercial-Duplex (Commercial) |
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1275 N Banana River Dr - Banana River Villas
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