MIAMI—The Sebring Assisted Living, a former 12,090-square-foot senior housing property in Sebring, FL, has traded hands. The senior housing facility sold for $415,000.
Krone Weidler, an associate vice president investments in Marcus & Millichap‘s Tampa office, had the exclusive listing to market the property on behalf of the seller, a financial institution. Weidler also secured the buyer of the property, a limited liability company from Winter Haven, FL.
“The seller, a financial institution outside of Florida, is a well-established client of our firm,” says Weidler. “When asked to do a proposal on this asset, it was important to ensure the asset could re-open as an assisted living community. After getting a comfort level that the asset could re-open as assisted living, finding the right buyer became much easier.”
This former Sebring Assisted Living Facility is located at 2301 US 27 South in Sebring, FL. This bank-owned asset once served as a 32-unit/45-bed assisted living community that was built in 1960 and 1981.
The senior housing property offers two buildings spanning 12,090 square feet; a one-story assisted living facility and a two-story office building. The property ran as an assisted living community with a limited mental health license.
“There were multiple offers on the asset, which shows the continued strength of seniors housing in Florida,” Weidler says. “The buyer plans an extensive renovation to provide a fully secured memory care community, a demand that continues to grow around the country and particularly in Florida with our aging population.”