Sarasota, FL - Assisted Living/Memory Care Building and Land For Sale!

Sarasota, FL (Sarasota County)

Seller Financing Available
Sarasota, FL - Assisted Living/Memory Care Building and Land For Sale!
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Asking Price: $4,250,000

Gross Revenue: N/A

Price/Sq. Ft.: N/A

NOI: N/A

Building SF: 21,000

FF&E: N/A

Year Built: N/A

Sarasota, FL - Assisted Living/Memory Care Building and Land For Sale!

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Property Description

This is an opportunity for an ALF-Memory Care Operator to get a 67-bed facility into operation or expand up to a 180-bed facility, as zoning permits.

ALF Reactivation: Seller is proceeding with the refurbishment of the building and the re-establishment of the Assisted Living Facility. Estimated costs for the building rehab/improvements is $250,000, which includes a new roof and Air Conditioner Unit replacement, Gas Tank Installation, Kitchen equipment and cosmetics. Seller is in the process of getting the license for 67-beds activated.

This property consists of

· 5660 Mauna Loa Bv – 7.46-acres
· 21K sf Building (Former ALF/Memory Care Facility)

Zoning - Planned Commerce District (PCD) - The PCD District provides an area for coordinated mixed use developments which include industrial, commercial, office, educational, civic, institutional, residential and service uses within a planned development with appropriate perimeter buffering and open space. This district allows for significant contribution to the economic base of Sarasota County. The variety of land uses available in this district will allow flexibility to respond to market demands and the needs of tenants, which provides for a variety of physically and functionally integrated land uses.

· ALF/IL/Memory Care
· Medical Office

Price: Asking $4.2M OBO - will consider all reasonable offers

Financing: Seller will accept a cash offer or funding from a third-party lender.

Seller Financing: Considered for a Qualified Purchaser. Rate and Terms to be determined.

Attached Documents


Detailed Information

Location:
Sarasota, FL
Type:
Other Business Real Estate
Building SF:
21,000
Building Status:
Established
Facilities:
Prior 69-Bed ALF. Formerly operating at a Memory Care Center with 45 Residents.
Financing:
25% Down, 6% IR, 25-Yr Am, 5+Yr Balloon
Location Description:
Sarasota. Directly off Intersection I-75. Located minutes from Doctors Hospital.
Current and Prior Use:
Prior 69-Bed ALF. Formerly operating at a Memory Care Center with 45 Residents. Development plans for 150-bed ALF
Business Website:
http://www.CRESCorpINTSL.com
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Business Location


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Benny Spensieri

Property Listed By:
Benny Spensieri

CRES Corp International, LLC

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