Licensed Assisted Living
For Sale
Contact for pricing
39106 Grays Airport Rd, Lady Lake, FL 32159
2.27-acre property with 7 bedrooms, suitable for assisted living.
Property Size2,854 SF
Lot Size2.27 Acres
Price / SF$146.81
Days on Market155
Property Features for 39106 Grays Airport Rd
General Information
Standard status
Active
Size
2,854 SF
Lot size
2.27 Acres
Property subtype
Senior Living
Investment Type
Owner/User
Building Details
Year Built
1990
Stories
1
Listing Agency:
KW
(407) 639-0345
Listed By:
Ayesha Verma · License #SL3531226
Source:
Crexi
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 10 at 7:40AM
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 KW
Investment Insights
Based on property information with market context.
This property, situated on a 2.27-acre lot, features 2,574 square feet of living space, including 7 bedrooms and 4 bathrooms. It is partially furnished, with furniture, fixtures, and business equipment included. The property has functioned as a licensed 6-bed Assisted Living Facility (ALF) for over a decade. The property will be delivered vacant, and the seller intends to keep the ALF license active for the next buyer if requested. The absence of an HOA provides flexibility for the new owner to continue its operation as a residential ALF or to explore other permitted uses such as adult day care, a halfway home, or other congregate living arrangements. Safety features include a fire alarm system and a generator. Located approximately 15 minutes from The Villages, the property offers opportunities for investors, operators, or homeowners. The buyer is responsible for verifying room measurements, licensing requirements, permits, zoning, and any other details pertaining to the buyer’s intended use of the property before the expiration of the due diligence period and closing.
Key Highlights
- Licensed 6‑bed Assisted Living Facility (ALF) with option to continue operation.
- Large 2.27‑acre lot offers flexible use and potential expansion.
- Spacious 2,574 SF home featuring 7 bedrooms and 4 bathrooms.
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
$28,481
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
6.80%
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%
$569,620
$569.6K
Cap Rate 7%
$406,871
$406.9K
Cap Rate 9%
$316,456
$316.5K
Market Conditions
NOI Build-Up for 2,854 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
$54.8K $19.20/SF
− Vacancy
−$3.0K −$1.06/SF
EGI
$51.8K $18.14/SF
− OpEx
−$23.3K −$8.16/SF
NOI
$28.5K $9.98/SF
Area
Sumter County, FL
Vacancy
5.50%
Lease Rate
$19.20 /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%
$569,620
Cap Rate 7%
$406,871
Cap Rate 9%
$316,456
Alternative Uses
Best Use
Apartment 5plus
$406.9K
$356.0K – $474.7K
NOI $28,481 @ 7.0% cap · market cap 6.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$817.1K
$714.9K – $953.2K
NOI $57,194 @ 7.0% cap · market cap 13.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32159, FL
30,455
Population
19,670
Households
1.5
Avg Household Size
69
Median Age
29%
College-Educated
95%
High-School Grad
30.2 sq mi
ZIP Area
1,008
Density / Sq Mi
$57,536
Median Household Income
$30,723
Median Earnings
$1,370
Median Rent
$272,100
Median Home Value
Questions? Ask Rey
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Similar Off Market Nearby
- Heidi's Haven — 39106 Grays Airport Rd, Lady Lake, FL 32159
Frequently Asked Questions
What type of property is this?
Assisted living facility - 2.27-acre property with 7 bedrooms, suitable for assisted living.
Where is this assisted living facility located?
The property is located at 39106 Grays Airport Rd Lady Lake, FL.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: Licensed 6‑bed Assisted Living Facility (ALF) with option to continue operation.; Large 2.27‑acre lot offers flexible use and potential expansion.; Spacious 2,574 SF home featuring 7 bedrooms and 4 bathrooms.
