Furnished Former Assisted Living
New
For Sale
$645,000
201 ROSEFIELD Avenue, Leesburg, FL 34748
Commercial Sale, LEESBURG, FL
Property Size3,465 SF
Lot Size0.20 Acres
Price / SF$186.15
Days on Market2
Property Features for 201 ROSEFIELD Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-3
Directions
From US-27 N, turn right onto W Main St. Turn left onto N 3rd St, then turn right onto Rosefield Ave. Property will be on the right at 201 Rosefield Ave.
Subdivision
34748 - Leesburg
Standard status
Active
APN
23-19-24-0004-000-08001
Size
3,465 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FROM INTERSECTIN OF CENTERLINE OF SAL RR WITH E LINE OF THIRD STREET RUN N 419.37 FT E 120 FT FOR POB CONT E 85 FT S 100 FT TO A DITCH W'LY ALONG SAID DITCH TO A POINT S OF POB N TO POB ORB 6173 PG 1795
Tax Annual Amount
4873
Legal Description
FROM INTERSECTIN OF CENTERLINE OF SAL RR WITH E LINE OF THIRD STREET RUN N 419.37 FT E 120 FT FOR POB CONT E 85 FT S 100 FT TO A DITCH W'LY ALONG SAID DITCH TO A POINT S OF POB N TO POB ORB 6173 PG 1795
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
fully furnished
fire alarm system
automatic generator
renovated kitchen
new flooring
new water heater
new HVAC unit
Building Details
Year built
1958
Floors in Building
1
Number of units
1
Listing Agency:
KELLER WILLIAMS REALTY AT THE PARKS
(407) 629-4420
Listed By:
Ayesha Verma · License #SL3531226
(407) 639-0345
Added: Aug 24
Last Checked: Aug 25 at 12:06PM
MLS# O6434042
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 201 Rosefield Avenue in Leesburg, this 3,465-square-foot former assisted living property sits on 0.2 acres and was built in 1958. The building includes 11 actual bedrooms and is being offered furnished, with a renovated kitchen, some new flooring, a new water heater, one new HVAC unit, central heating and cooling, fire sprinklers, a fire alarm system, and an automatic generator.
The property was previously licensed for 20 residents and is partially approved for either 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 six additional spaces. Other potential congregate uses identified in the property information 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. The property is zoned C-3.
The property was previously licensed for 20 residents and is partially approved for either 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 six additional spaces. Other potential congregate uses identified in the property information 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. The property is zoned C-3.
Key Highlights
- 3,465 SF building on 0.2 acres in Leesburg
- Previously licensed for 20 residents with 11 actual bedrooms
- Partially approved for a 19‑resident Room & Boarding House or an 18‑bed Assisted Living Facility
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
$42,551
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
6.60%
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%
$851,020
$851.0K
Cap Rate 7%
$607,871
$607.9K
Cap Rate 9%
$472,789
$472.8K
Market Conditions
NOI Build-Up for 3,465 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
$82.7K $23.88/SF
− Vacancy
−$5.4K −$1.55/SF
EGI
$77.4K $22.33/SF
− OpEx
−$34.8K −$10.05/SF
NOI
$42.6K $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%
$851,020
Cap Rate 7%
$607,871
Cap Rate 9%
$472,789
Alternative Uses
Best Use
Apartment 5plus
$607.9K
$531.9K – $709.2K
NOI $42,551 @ 7.0% cap · market cap 6.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$986.0K
$862.8K – $1.15M
NOI $69,023 @ 7.0% cap · market cap 10.70%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Assisted living facility - Vacant C-3 property with central HVAC, fire protection, generator, and 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: 3,465 SF building on 0.2 acres in Leesburg; Previously licensed for 20 residents with 11 actual bedrooms; Partially approved for a 19‑resident Room & Boarding House or an 18‑bed Assisted Living Facility
