Catylist ID:
#30319618
| Catylist Listing ID: | 30319618 |
| Property Subtypes: | Multi-Family, Other |
| Gross Land Area: | 7.14 Acres |
| Sale Price: | $3,575,000 |
| Unit Price: | $500,700 Per Acre |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 12/14/2018 |
Overview / Comments
|
Harmony Palms - Venice is designed as a 140-bed memory care and assisted living facility. Phase I is designed a a 56-unit dementia village, a unique concept, which received a warm welcome from the local community and county officials. Phase II is designed a an assisted living facility with 70 beds. Groundwork is nearly complete - includes retention & drainage, pipes for water & sewer laid. Utilities available to site - need to be connected. Proposed rental rates average of $4,500/ unit. Estimated Annual Revenue at 93% occupancy of $7.1 million; Estimated Value "AS IS" - $4.5 million, which includes $3.2 million land value, $400,000 in paid soft costs/permits/impact fees and $900,000 in completed site work and materials on site. PROPERTY OVERVIEW Subject property is located east of I-75 on E. Venice Ave., between Lee and Havana Roads. |
Attachments & Media
Additional Details
| Nearest MSA: | North Port-Sarasota-Bradenton |
| County: | Sarasota |
| Tax ID/APN: | 0416080003 |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 2,175 | 30,690 | 67,562 |
| Median Age: | 52.96 | 63.26 | 60.53 |
| Households: | 1,004 | 15,702 | 34,085 |
Contact
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