Assisted Living Senior
602 MELTON AVE Auburndale, FL 33823
For Sale
Contact for pricing
Special-purpose assisted living/group home facility designed to accommodate up to 90 residents.
Property Size33,676 SF
Lot Size1.29 Acres
Price / SF$126.20
Days on Market57
Property Features for 602 MELTON AVE
General Information
- Standard status
- Active
- Size
- 33,676 SF
- Lot size
- 1.29 Acres
- Property subtype
- Mixed Use, Senior Living, Special Purpose
Building Details
- Year Built
- 1957
Listing Agency:
Red Wolf Property
(407) 257-2781
Listed By:
Brian Carolan · License #BK 3237828
Source:
Crexi
Added: May 28
Changed: Jul 23
Last Checked: Jul 23 at 1:18AM
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 Red Wolf Property
Investment Insights
Based on property information with market context.
Formerly operated as a group home, this assisted living senior housing facility is a special-purpose property with an in-place commercial kitchen and a layout designed to support residential/institutional operations. The building is approximately 33,676 square feet and sits on about 1.29 acres, configured to accommodate up to 90 residents.
The property is located at 602 W Melton Avenue in Auburndale, Florida. It provides convenient access to Magnolia Avenue and the Polk Parkway, with multiple public transit lines nearby.
According to public remarks, RIO (Residential, Institutional and Office) zoning provides flexibility for an owner-user or specialized operator considering assisted living, group home, or other creative uses.
The property is located at 602 W Melton Avenue in Auburndale, Florida. It provides convenient access to Magnolia Avenue and the Polk Parkway, with multiple public transit lines nearby.
According to public remarks, RIO (Residential, Institutional and Office) zoning provides flexibility for an owner-user or specialized operator considering assisted living, group home, or other creative uses.
Key Highlights
- Special‑purpose assisted living/group home facility on 1.29 acres, built in 1957
- Approximately 33,676 SF designed to accommodate up to 90 residents
- Includes an in‑place commercial kitchen and a functional institutional layout
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $618.3k | $18.36 |
| − Vacancy | −$38.3k | −$1.14 |
| EGI | $580.0k | $17.22 |
| − OpEx | −$261.0k | −$7.75 |
| NOI | $319.0k | $9.47 |
33,676 SF · lease $18.36/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.56M
$3.99M – $5.32M
NOI $318,977 @ 7.0% cap · market cap 7.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.09M
$7.08M – $9.44M
NOI $566,484 @ 7.0% cap · market cap 13.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
The Auburndale Bridge
Medical Clinic
Similar Off Market Nearby
- Mainstay Senior Living — 505 Ariana Ave, Auburndale, FL 33823
- Lifepath Hospice — 214 E Lake Ave, Auburndale, FL 33823
FAQs
What type of property is this?
Assisted living facility - Special-purpose assisted living/group home facility designed to accommodate up to 90 residents.
Where is this assisted living facility located?
The property is located at 602 MELTON AVE Auburndale, FL.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: Special‑purpose assisted living/group home facility on 1.29 acres, built in 1957; Approximately 33,676 SF designed to accommodate up to 90 residents; Includes an in‑place commercial kitchen and a functional institutional layout
