$750,000

2850 Counts Lane

TITUSVILLE FL, 32796

Description

INVESTMENT SUMMARY Potential Income Post Rehab and Massive Value Add once you renovate - Using the resident income and Medicaid reimbursement, the overall payment to the facility that accepts ALE waiver recipient is $1,570.00 per month. For private patients the average rate in the Titusville area is $3,000-$3,500.00 per month For private patients - 3000$/room/month with a vacancy factor of 10% - is over $2.85M in gross revenue per year Building is owned by physicians with no debt who had plans of running the facility. As they no longer plan to relocate to manage and run the facility, they've chosen to deeply discount the price and offload this amazing investment opportunity so that an investor with the appropriate resources can take on the project of rehabilitating this assisted living facility. There may be an opportunity to pursue additional types of care if approved by municipality resulting in a greater ROI. Once revamped and running, a functional ALF can sell easily at a 5 cap.

Details

MLS#O5817551
StyleRetail
Sub-TypeResale
StatusActive
Year1968
Days On Site61

Features

SQ Feet53,837
Story(s)1
ZoningIN(L)

Market Activity 32796

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Area Information

StateFL
CountyBrevard
CityTITUSVILLE
Zip Code32796
Area32796 - Titusville
Listing VS Median (in 32796)
Price:
$750,000
low | high
Med:
$238,700
100% of Average
SqFt:
53,837
low | high
Med:
2,559
100% of Average
$ / SqFt:
$14
low | high
Med:
$103
100% of Average
On Site:
61
low | high
Med:
89.500000
68.156424581006% of Average
Listing Updated: 12/07/2019
MLS Number: O5817551
Listing Provided By:
Mac Jaffer  of  EXP REALTY LLC

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