For Sale
$4,550,000

123 Main StLakeland, FL 33815

60-bed ALF, high occupancy, strong ROI

Overview

Added:
Dec 11, 2024
Days on market:
113
This established 60-bed assisted living facility (ALF) in Lakeland, Florida, presents a compelling investment opportunity. Located at 123 Main Street, 33815, this stabilized property boasts 21,775 square feet of space, including numerous resident rooms and bathrooms, spacious common areas (dining areas, activity room, salon), a commercial kitchen, staff areas, and a nurses' station. The facility enjoys a high occupancy rate due to its focus on lower-income and Medicaid residents, a demographic with significant demand. The property sits on a large lot providing ample parking and outdoor space for residents. Commercial zoning allows for potential bed expansion, further increasing the facility's revenue potential. The asking price of $4,550,000 reflects a 9.59% cap rate and a strong NOI of $436,443. Financial details, including a 2023 P&L (using add-backs), are available upon execution of a Non-Disclosure Agreement (NDA). Buyers are responsible for independently verifying all financial information, permits, approvals, regulations, and other relevant factors prior to closing. A sister property with 55 beds is also available for acquisition within a one-hour drive, offering a potential combined total of 115 beds. This is a turnkey opportunity for investors seeking a stable, high-performing asset in a growing market.

Highlights

  • $4,550,000 asking price for a stabilized assisted living facility.
  • 60-bed assisted living facility (ALF) in Lakeland, Florida, specializing in lower-income and Medicaid residents with high occupancy.
  • 21,775 square feet, including multiple rooms, bathrooms, dining areas, activity room, salon, commercial kitchen, and staff areas.
  • Ample common areas, outdoor space, and parking.
  • Commercial zoning allows for bed expansion.
  • Potential to acquire a nearby 55-bed sister property.

Property Details for 123 Main St

Property type
Retirement homes, Assisted living facilities
Square Feet
21,775 SF

Location Insight

City
Lakeland
County
Polk
State
Florida
Latitude
28.044505120542
Longitude
-81.958263726884
123 Main St, Lakeland, Florida

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123 Main St
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