Renovated Assisted Living
For Sale
$499,000
78 WINTER PARK DRIVE, Casselberry, FL 32707
Renovated assisted living home with an attached two-car garage and established tenant through December 2027.
Property Size2,811 SF
Lot Size0.36 Acres
Price / SF$177.52
Days on Market89
Property Features for 78 WINTER PARK DRIVE
General Information
Standard status
Active
Size
2,811 SF
Lot size
0.36 Acres
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$6,029
Amenities
stainless steel appliances
cozy fireplace
large screened patio
Central Air, Window/Wall Unit
3
Golf Course.
Paved Driveway.
Golf Course, Oversized Lot, City Road, Paved Road.
Building Details
Year Built
1955
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
CREEGAN GROUP
(407) 622-1111
Listed By:
Chris Creegan · License #3168853
Source:
Xome
Added: May 13
Changed: Aug 8
Last Checked: Aug 9 at 5:32AM
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 CREEGAN GROUP
Investment Insights
Based on property information with market context.
This beautifully renovated assisted living facility is currently operating as a licensed assisted living home. The property is furnished and configured as a 4-bedroom, 3-bath layout with a bright, open design and a split-bedroom floor plan for comfort and privacy. Recent improvements include updated electrical wiring, new plumbing, and a newer roof on the west side of the home. The updated kitchen features stainless steel appliances, abundant cabinetry, pantry storage, and expansive granite countertop space. Interior finishes include laminate flooring throughout, updated fixtures, spacious living and dining areas, and a cozy fireplace in the main family room, along with an en-suite primary bathroom with granite vanity countertops and a double closer.
The home sits on an oversized 0.36-acre lot within a golf community in Casselberry, with a golf-course setting. Outdoors include an attached 2-car garage, a massive circular driveway with ample parking, and a large screened patio and expansive backyard. The property totals 2,811 SF and was built in 1955, with central air plus window/wall unit cooling noted. A tenant is secured through December 2027.
The home sits on an oversized 0.36-acre lot within a golf community in Casselberry, with a golf-course setting. Outdoors include an attached 2-car garage, a massive circular driveway with ample parking, and a large screened patio and expansive backyard. The property totals 2,811 SF and was built in 1955, with central air plus window/wall unit cooling noted. A tenant is secured through December 2027.
Key Highlights
- Tenant secured through December 2027
- 0.36‑acre oversized lot in a golf community setting
- 2,811 SF assisted living facility built in 1955
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
$34,520
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
6.92%
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%
$690,400
$690.4K
Cap Rate 7%
$493,143
$493.1K
Cap Rate 9%
$383,556
$383.6K
Market Conditions
NOI Build-Up for 2,811 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
$67.1K $23.88/SF
− Vacancy
−$4.4K −$1.55/SF
EGI
$62.8K $22.33/SF
− OpEx
−$28.2K −$10.05/SF
NOI
$34.5K $12.28/SF
Area
Seminole 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%
$690,400
Cap Rate 7%
$493,143
Cap Rate 9%
$383,556
Alternative Uses
Best Use
Apartment 5plus
$493.1K
$431.5K – $575.3K
NOI $34,520 @ 7.0% cap · market cap 6.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$799.9K
$699.9K – $933.3K
NOI $55,995 @ 7.0% cap · market cap 11.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
953
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32707, FL
37,704
Population
17,499
Households
2.2
Avg Household Size
40
Median Age
36%
College-Educated
92%
High-School Grad
9.6 sq mi
ZIP Area
3,928
Density / Sq Mi
$66,780
Median Household Income
$40,280
Median Earnings
$1,573
Median Rent
$305,000
Median Home Value
Questions? Ask Rey
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Similar Off Market Nearby
- Bena Assisted Living Facility — 78 S Winter Park Dr, Casselberry, FL 32707
- Central Florida Group Home — 511 S Winter Park Dr, Casselberry, FL 32707
- Garden Spring Manor — 1420 Guinevere Dr, Casselberry, FL 32707
Frequently Asked Questions
What type of property is this?
Assisted living facility - Renovated assisted living home with an attached two-car garage and established tenant through December 2027.
Where is this assisted living facility located?
The property is located at 78 WINTER PARK DRIVE Casselberry, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Tenant secured through December 2027; 0.36‑acre oversized lot in a golf community setting; 2,811 SF assisted living facility built in 1955
