Furnished Assisted Living
New
For Sale
$645,000
201 ROSEFIELD AVENUE, Leesburg, FL 34748
Vacant, furnished former care facility with fire protection, generator, and a renovated kitchen.
Property Size4,725 SF
Price / SF$136.51
Days on Market7
Property Features for 201 ROSEFIELD AVENUE
General Information
Standard status
Active
Size
4,725 SF
Property subtype
Multi-Family 5+
Property Condition
Severity
Repairs Needed
Evidence
modest capital improvements needed to resume operations
Additional Details
Sprinkler System
Yes
Amenities
automatic generator
renovated kitchen
new flooring
new water heater
new HVAC unit
Building Details
Year Built
1958
Buildings
1
Listing Agency:
KELLER WILLIAMS REALTY AT THE PARKS
(407) 629-4420
Listed By:
Ayesha Verma · License #3531226
Source:
Endlesssummerrealty
Added: Aug 24
Changed: Aug 29
Last Checked: Aug 26 at 7:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KELLER WILLIAMS REALTY AT THE PARKS
Investment Insights
Based on property information with market context.
This 4,725-square-foot, single-building property was constructed in 1958 and previously operated as a 20-bed assisted living facility. The vacant building includes 11 bedrooms and is being offered fully furnished, with fire sprinklers, a fire alarm system, an automatic generator, a renovated kitchen, some new flooring, a new water heater, and one new HVAC unit.
Current partial approvals identify two potential operating paths: a 19-resident Room & Boarding House, including a manager, or an 18-bed Assisted Living Facility. The assisted living configuration requires parking reconfiguration, while the boarding-house option requires approximately 6 additional parking spaces. Other possible congregate uses include independent living, memory care, day care, group home, foster home, APD group home, and halfway house uses, subject to independent verification with the City of Leesburg and applicable agencies.
Located in downtown Leesburg at 201 Rosefield Avenue, the property provides an existing furnished and improved platform for repositioning, with permits, zoning, capacity, parking, and intended-use requirements requiring buyer confirmation.
Current partial approvals identify two potential operating paths: a 19-resident Room & Boarding House, including a manager, or an 18-bed Assisted Living Facility. The assisted living configuration requires parking reconfiguration, while the boarding-house option requires approximately 6 additional parking spaces. Other possible congregate uses include independent living, memory care, day care, group home, foster home, APD group home, and halfway house uses, subject to independent verification with the City of Leesburg and applicable agencies.
Located in downtown Leesburg at 201 Rosefield Avenue, the property provides an existing furnished and improved platform for repositioning, with permits, zoning, capacity, parking, and intended-use requirements requiring buyer confirmation.
Key Highlights
- 4,725‑square‑foot former assisted living facility constructed in 1958
- Previously licensed for 20 residents; property includes 11 actual bedrooms
- Partially approved for a 19‑resident Room & Boarding House, including manager
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$58,024
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,160,480
$1.2M
Cap Rate 7%
$828,914
$828.9K
Cap Rate 9%
$644,711
$644.7K
Market Conditions
NOI Build-Up for 4,725 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$112.8K $23.88/SF
− Vacancy
−$7.3K −$1.55/SF
EGI
$105.5K $22.33/SF
− OpEx
−$47.5K −$10.05/SF
NOI
$58.0K $12.28/SF
Area
Lake County, FL
Vacancy
6.50%
Lease Rate
$23.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,160,480
Cap Rate 7%
$828,914
Cap Rate 9%
$644,711
Alternative Uses
Best Use
Apartment 5plus
$828.9K
$725.3K – $967.1K
NOI $58,024 @ 7.0% cap · market cap 9.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.34M
$1.18M – $1.57M
NOI $94,122 @ 7.0% cap · market cap 14.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,605
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34748, FL
45,481
Population
25,740
Households
1.8
Avg Household Size
60
Median Age
24%
College-Educated
90%
High-School Grad
39.4 sq mi
ZIP Area
1,154
Density / Sq Mi
$53,768
Median Household Income
$30,762
Median Earnings
$1,181
Median Rent
$226,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Assisted living facility - Vacant, furnished former care facility with fire protection, generator, and a renovated kitchen.
Where is this assisted living facility located?
The property is located at 201 ROSEFIELD AVENUE Leesburg, FL.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: 4,725‑square‑foot former assisted living facility constructed in 1958; Previously licensed for 20 residents; property includes 11 actual bedrooms; Partially approved for a 19‑resident Room & Boarding House, including manager
