Investment Overview

Marcus & Millichap is pleased to present the fee simple ownership in The Veranda, an Independent Living community located at 9309 S. Orange Blossom Trail #3, Orlando, Florida. The property consists of a one-story, 48-unit seniors housing community with a total gross area of approximately 36,222-square-feet. The living area within the building spans approximately 27,711-square-feet, accommodating a total of 48 studio units along with common areas and facilities. The Veranda, was formerly Twelve Oaks Memory Care facility until Spring 2023 when it was closed. The 23 current residents were moved into the community in February 2024 from the adjacent independent living community named The View 55+, which has been transitioned to its original use as a 122-key hotel property. With the 23 residents and accompanying revenues in the Veranda, the community now provides an opportunity for a new owner and operator to lease up the community with Independent Living residents or transition the property to an Assisted Living and Memory Care community. The layout of the building is divided in half, with 2 wings of 24 units each. The vacant units and wing can be leased for assisted living or memory care residents. The community was formerly licensed with the Florida Agency for Healthcare Administration as an Assisted Living Facility (ALF). This license will need to be secured to operate as an Assisted Living or Memory Care community. The property benefits from a strategic location off Orange Blossom Trail and Principal Row, providing excellent visibility and accessibility. Additionally, it is conveniently situated less than a mile away from Florida's Turnpike toll road, offering efficient transportation connections to the surrounding areas. The population within a five-mile radius of the property is approximately 183,298 people and the average household income within the five-mile radius is $71,681. This indicates a relatively affluent demographic, suggesting a higher level of purchasing power and consumer spending potential in the surrounding area.