This Real Estate and Business Investment can return to its former glory quite easily and the potential to produce strong income while providing a nice and comfortable living facility for future ALF residents.
For the past four years +, this property has had a tenant operating an independent living facility which is different from its long standing history of always being an assisted living facility. This tenant is currently in place but their tenancy is month to month. We are able to discuss the current situation and what future visions may look like.
Please make sure to see the major employers map included and draw your attention to the main major employers being Healthcare.
Typically an ALF versus an ILF differs per bed in Manatee county around $2,500 to $3,000 per bed, per month which off the back of the napkin math produces proforma numbers like this;
16 Beds X $3,500 per month = $56,000 monthly gross income (but wait! - you also are purchasing a cottage which can provide additional income!). The market says that can rent for $1,500/mo but let's add $1,000 for this model. = $57,000 per month of gross income.
$684,000 Gross Potential Annual Income as an ALF owner and operator.
Let's assume expenses of 42% = $288,000
This provides a NOI of $396,000
The current lease which is now a month to month tenancy.
You can also purchase the property and we can be of service and locate an ALF to lease the space!
An example of how this lease can cash flow for an investor (including the cottage rental as well ($1,000/mo)
Lease on main building - $12,000 per month w/ additional lessee responsibilities + cottage ($1,000/mo) = $13,000 per month
$156,000 annual gross income
Approx expense ratio (25%) = $39,000
Net Operating Income = $117,000 Annually
Purchase @ $1.395m with the NOI equals an 9% +/- return.
There is also a vacant lot at the Northern front end of the front parcel property and future expansion or new construction are possibilities with county approval.
Property Opportunity & Highlights
This is a fantastic and rare opportunity to acquire a multi-faceted investment including a Living Facility.
The ownership put on new roofs on both buildings within the past 12 months along with a 22KW Generator with 200 AMPs onsite.
They also had a WDO (Termite) inspection performed in early 2025 and received a written clean bill of health.
Plenty of area for serene outdoor settings are on this .44 acre site as well. Featuring a large, shaded backyard garden area with majestic Oaks providing the canopy, and storage sheds, as well as additional land and a 2nd building on the south side of the property. Providing plenty of room for future expansion. And easy conversion to additional rooms or staff housing.
Call Dreznin Pappas Commercial Real Estate @ 941-961-8199 today to view videos and available documents of this amazing property before it's SOLD or potentially leased!
Location Summary
Bayshore Gardens is a census-designated place (CDP) and planned community in Manatee County, Florida, United States. The population was 16,323 at the 2010 census. It is part of the Bradenton–Sarasota–Venice Metropolitan Statistical Area.
In 1955, a New York syndicate led by developer Sydney R. Newman purchased the area now known as Bayshore Gardens on the west side of U.S. 41 along the eastern shore of Sarasota Bay, just north of the Sarasota/Manatee county line, and platted an area between what was dubbed Bayshore Gardens Parkway running from U.S. 41 to 26th Street West and Sarasota Bay that would become Bayshore Gardens.
The property was purchased for about 2 million dollars, making it the most expensive land purchase in the area since the 1920s. This 3,200-acre area, once fields for growing tomatoes, would include recreation areas and a marina, schools, churches, shopping centers and medical facilities as well as homes.
Bradenton’s economy is primarily driven by tourism due to its close proximity to gulf coast beaches, the Tampa Bay Area and other agricultural preserves
The Bradenton tourism industry employs nearly 26,100 residents, creates $1.3 billion in economic impact and contributes $54.4 million in sales tax
• TOP AREA EMPLOYERS COMPANY EMPLOYEES
Manatee County School District 6,800
Beall’s Inc. 4,200
Manatee County Government 2,981
Manatee Memorial Hospital 1,445
Goodwill Industries Manasota Inc. 1,179
Tropicana Products 1,000
