22501 Boca Rio Rd
Boca Raton, FL 33433
Boca Rio Road ALF Site (REO) · Land For Sale · 6.14 AC

Property tours are available by appointment ONLY. Please contact Victor Garcia at 305-913-5547 or vgarcia@hfflp.com to schedule. Holliday Fenoglio Fowler, LP ("HFF") is pleased to exclusively offer the opportunity to acquire 22501 Boca Rio Road (the "Property" or "Site"). The 6.14-acre Site is located in Boca Raton, one of Palm Beach County’s most exclusive residential neighborhoods, just minutes away from everything that South Florida has to offer. In 2014, ±$24,785,000 of Senior Housing Revenue Bonds were issued as a loan to finance the acquisition, construction, and equipping of a ±90,800 GSF, 3-story, ±96-unit/±116-bed Assisted Living and Memory Care facility, complete with courtyard, nurse’s stations, living rooms, dining rooms, and other amenities including a therapy room and office center. Subsequently, the lender of the Property foreclosed on the Site, taking title to the Site on August 02, 2018. The Site will be sold subject to an existing deed restriction which requires the Property to be used for adult congregate living facilities as defined by the Palm Beach County land use and zoning regulations. Boca Raton is one of the most affluent neighborhoods in South Florida with an average household income exceeding $125,000 annually and ±25% of the homes valued at $750,000 or more. The residents of Boca Raton are also highly educated with ±52% of the population having earned a bachelor’s degree or higher. Furthermore, the Site is located in an all "A-Rated" school district: Hammock Pointe Elementary School, Omni Middle School, and Spanish River High School. Lastly, Boca Raton has experienced steady population and job growth and that trend is projected to continue for the foreseeable future. The future development will benefit greatly by the Site’s location just off of the Florida Turnpike. This area of the highway experiences an average daily traffic count of ±109,100 vehicles per day, giving the future project unbeatable visibility. The Site is located just a short drive away from employment, necessity retail, shopping and recreational destinations: West Boca Medical Center – ±9 minutes, Boca Town Center – ±12 minutes, Boca Raton Regional Hospital – ±12 minutes, Florida Atlantic University – ±12 minutes, Mizner Park – ±14 minutes, South Beach Park – ±16 minutes. The Property is also within a short drive of over a dozen golf courses, including the adjacent Boca Rio Golf Club.