Opportunity Zone | Assisted Living Facility | Sarasota, FL

Listing was updated at: 12/10/2019
Property Overview
Price/Rent PSF $ 949,000.00
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available 2,701
Date Available 12/10/2019
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Floors 1
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Located within an Opportunity Zone northeast of downtown Sarasota is Welcome Home, assisted living facility. This location is easily accessible from Bradenton or South Sarasota due to the reach of Tuttle Avenue(24,000 daily traffic count) making it a great option for residents across Manatee and Sarasota Counties. Fruitville Road offers direct access to Interstate-75 while the Sarasota-Bradenton International Airport is less than a 15-minute drive away.

This property is the ideal Opportunity Zone investment. Location and size of the property coupled with the income currently being produced provides investors with a turn key operation that can be expanded or redeveloped.

With an attractive gross monthly income and enough land to develop a new operation or expand current operations, any buyer can meet Opportunity Zone substantial improvement requirements while operating a cash-flowing investment. The current RMF-1 zoning designation allows for 6 units of density per acre. Future land use will allow up for expansion of the current operation. Assemblage of the corner property is also a possibility. A possible rezone and redevelopment or expansion can make this property a valueable, cash-flowing asset for the foreseeable future.

See attached proforma for existing and expanded business. These proformas were put together using current expenses and a local operator that is willing to manage the property for a new owner.