No Address

List Price
Status
Coming Soon

Property Description

CASH IN:  $3,500,100.00 Asset Back with Land and Building

 

   INVESTMENT RETURN:

  50% or $1,500,000.00

12 months

Zoning:

Commercial Healthcare Mixed-Use

Building:

2015 New Construction

Building Size:

44,000 sq. ft

Building & Land Appraised 2015:

$11,100,000.00 As-Complete

Land Area:

   6.1 acres

Market Use Today:

Rehab or Multi Apartments

Potential REHAB Appraisal 2018:

$16,000,000.00 As-Complete


? Acquisition Opportunity at Discount – Building and Land was appraised at $11.1million in 2015 as an Assisted Living Facility. Building did not open due to water damage in final months of construction. Bank settled with Insurance company and offered the building for Owner to sell at DISCOUNT. Building and Land Discount price $3.5million. Building intended use cannot be an Assisted Living Facility. Opportuity new use.Rare REHAB Opportunity – With limited developed buildings and rapidly escalating real estate values in Florida, the Property is an opportunity to acquire a trophy asset in a healthcare market with a 12-month value appreciation.

? Break-Down - Price value today for land is $1.2million. Building includes all components worth well over the balance of $2.3million. Existing Building, Parking Lots, Sprinklers & Fire Alarm, Electrical Boxes and Generator Switch Gear, Elevators, Heating & Cooling (6) six multi-ton units, Plumbing, Kitchen Exhaust units, Walk-in Coolers, Nurse Stations, Offices and 1500 sq. ft Office Building on site.

? Below Replacement Cost – The Property can be acquired substantially below its original cost basis.

? Redevelopment Potential – The Property has been approved by REHAB operators to convert to a REHAB facility with the existing design meeting all requirements. The property is located in Sarasota-Bradenton, Manatee County the number one market in the United States of the Opioid (Drug Addiction) Epidemic. The Certificate of Occupancy was never signed off which allows the new buyer to remodel the building under the same permit.

? In-Place Value in Strong Market – A recent Appraisal for a REHAB facility by HealthTrust stated a 24 unit with 40 residences is valued at $14,000,000.00 As-Complete (No residences). This Subject Building is 52 units and can hold 80 residences comfortable. Estimated value $16,000,000.00 As-Complete (No residences). The $3,500,100.00 investment validates there is significant upside potential remaining.

? Class A Asset – Built in 2015, the Property features best-in-class facilities and has been assessed, limiting risk of changes during the remodel expenditures.

? OFFERING TO INVESTOR – Loan $3,500,100.00 to purchase building and land. New owner will remodel building and update appraisal. Investor will receive initial investment plus $1,500,000.00 or 50% Return on Investment. Timeframe 12 months

 

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