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Clearwater Assisted Living Facility1510 Barry Rd | Clearwater, FL 33756
JOHN DEMARCO, ACP954-678-8733JohnDeMarco@Remax.net
Once-in-a-lifetime investment opportunity.➢
Approved ALF plans for 91 beds. ➢
Upon stabilization, property is valued at $8,500,000. Over $3,800,000 projected profit.➢
Simliar ALF's when stabilized are netting $682,500 per year.➢
A+++ location nestled in between a nursing home, rehabilitation center, and a 55+ rentalcommunity.
➢
RE/MAX 5 STAR REALTY4151 Hollywood BlvdHollywood, FL 33020(954) 361-0000
REAL ESTATE INVESTMENT DETAILS1510 Barry Rd | Clearwater, FL 33756
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Analysis
Analysis Date May 2017
Property
Property Clearwater Assisted Living Facility
Property Address 1510 Barry RdClearwater, FL 33756
Year Built 1956
Financial Information
All Cash
Purchase Information
Property Type Health Care
Purchase Price $2,990,000
Tenants 91
Total Rentable Sq. Ft. 26,238
Loans
Type Debt Term Amortization Rate Payment LO Costs
All Cash
Income & Expenses Contact Information
John DeMarco, ACP
954-678-8733
JohnDeMarco@Remax.net
P. 2
PROPERTY DESCRIPTION1510 Barry Rd | Clearwater, FL 33756
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Once in a lifetime to invest into the senior housingindustry. The subject property consists of a 26,238usable square feet sitting on a large 1.94 acre lot.This property has zoning approval in hand for a 91Assisted Living Facility. It also has approved buildingplans see enclosed plans.
The current construction costs are approximately1.7mil, to build a state of the artAssisted Living Facility. Upon completion thisproperty will be worth 7.5mil based on recentcomparable sales. Upon Stabilization(90% occupied), this facility is worth well over8.5mil. After aquiasition costs, construction,and stabilization, there is over $3.8mil in profit.
Similar ALF's when stabilized are netting $682,500 per year. This is based on the average ALF operatingin the State of Florida.
This property is located in an excellent aging demographic of Clearwater Florida. It is in walking distanceof a large nursing home, a 55+ residential community, and a rehabilitation. This facility has great synergywith surrounding properties.
The building is currently in shell condition, with approved plans in hand and ready for construction. It isvery difficult to get zoning approval for 91 beds, which is a signafacnt value add to this property.
For additional information please contact listing broker.
P. 3
1510 Barry Rd | Clearwater, FL 33756
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Pro-Forma Summary
Item Monthly Annually NotesMarket GOI 227,500.00$ 2,730,000.00$ Average income per bed $2,500Vacancy 22,750.00$ 273,000.00$ Average industry vacancy 10.0%Market Expenses 147,875.00$ 1,774,500.00$ Based on 35% operating marginMarket NOI 56,875.00$ 682,500.00$ When stabilized
Item CostAcquisition cost 2,990,000.00$ Renovation cost 1,700,000.00$ Total price 4,690,000.00$
Capitalization rate 14.55%
$2,730,000.00
$1,774,500.00
$682,500.00
MarketGOI MarketExpenses MarketNOI
Pro-FormaAnnualIncomeVSExpenses
P. 4
MAPS AND AERIALS1510 Barry Rd | Clearwater, FL 33756
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection byand/or with the appropriate professionals.
P. 5
PROPERTY PHOTOS1510 Barry Rd | Clearwater, FL 33756
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
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P. 6
DEMOGRAPHICS1510 Barry Rd | Clearwater, FL 33756
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
POPULATION 1 MILE 3 MILE 5 MILE
Male 8,184 (48.55 %) 52,164 (48.13 %) 111,179 (47.52 %)
Female 8,673 (51.45 %) 56,225 (51.87 %) 122,796 (52.48 %)
Total Population 16,857 108,389 233,975
AGE BREAKDOWN 1 MILE 3 MILE 5 MILE
Ages 0-4 721 (4.28 %) 4,567 (4.21 %) 9,064 (3.87 %)
Ages 5-9 987 (5.86 %) 6,082 (5.61 %) 11,985 (5.12 %)
Ages 10-14 979 (5.81 %) 5,898 (5.44 %) 11,612 (5.12 %)
Ages 15-19 969 (5.75 %) 5,761 (5.32 %) 11,441 (4.89 %)
Ages 20-24 960 (5.69 %) 5,773 (5.33 %) 11,595 (4.96 %)
Ages 25-29 928 (5.51 %) 5,783 (5.34 %) 11,791 (5.04 %)
Ages 30-34 889 (5.27 %) 5,795 (5.35 %) 11,985 (5.12 %)
Ages 35-39 944 (5.60 %) 6,171 (5.69 %) 12,761 (5.45 %)
Ages 40-44 1,098 (6.51 %) 6,806 (6.28 %) 14,160 (6.05 %)
Ages 45-49 1,283 (7.61 %) 7,492 (6.91 %) 15,620 (6.68 %)
Ages 50-54 1,311 (7.78 %) 7,666 (7.07 %) 16,009 (6.84 %)
Ages 55-59 1,277 (7.58 %) 7,490 (6.91 %) 15,923 (6.81 %)
Ages 60-64 1,104 (6.55 %) 6,933 (6.40 %) 15,150 (6.48 %)
Ages 65-69 909 (5.39 %) 6,176 (5.70 %) 13,900 (5.94 %)
Ages 70-74 690 (4.09 %) 5,207 (4.80 %) 12,387 (5.29 %)
Ages 75-79 537 (3.19 %) 4,326 (3.99 %) 11,018 (4.71 %)
Ages 80-84 415 (2.46 %) 3,390 (3.13 %) 9,297 (3.97 %)
Ages 85+ 856 (5.08 %) 7,073 (6.53 %) 18,277 (7.81 %)
P. 7
DEMOGRAPHICS1510 Barry Rd | Clearwater, FL 33756
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE
Median Income $46,384 $41,743 $43,337
Less than $10,000 386 4,177 7,894
$10,000 -$14,999 358 3,181 6,661
$15,000 - $19,999 538 3,669 8,138
$20,000 -$24,999 550 3,842 8,258
$25,000 - $29,999 497 3,175 7,518
$30,000 - $34,999 491 3,431 7,274
$35,000 - $39,999 411 3,283 7,162
$40,000 - $44,999 420 2,641 6,635
$45,000 - $49,999 429 2,300 5,165
$50,000 - $59,999 703 4,093 9,561
$60,000 - $74,999 578 4,250 10,577
$75,000 - $99,999 783 4,651 10,315
$100,000 - $124,999 447 2,427 5,582
$125,000 - $149,999 101 845 2,352
$150,000 - $199,999 81 752 2,226
Greater than $200,000 70 1,010 2,669
HOUSING 1 MILE 3 MILE 5 MILE
Housing Units 7,768 60,269 137,360
Occupied Units 6,814 49,754 111,840
Owner Occupied Units 4,211 28,636 70,875
Renter Occupied Units 2,603 21,118 40,965
Vacant Units 954 10,515 25,520
RACE DEMOGRAPHICS 1 MILE 3 MILE 5 MILE
Population Non Hispanic White 14,414 89,775 200,392
Population Black 982 10,839 17,887
Population Am In/Ak Nat 28 87 211
P. 8
LOCATION MAP1510 Barry Rd | Clearwater, FL 33756
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
P. 9
Senior Living Industry Overview
INDEPENDENT LIVING
Congregate care or independent living units are designed for seniors who pay for
some congregate services (i.e. housekeeping, transportation, meals, etc.) as part
of the monthly fee or rental rate, and who require little, if any, assistance with
activities of daily living. Residents of congregate/independent living units may
also receive some health care services provided by in-house staff or an outside
agency. Congregate units may be part of an “age in place” residence, a property
that provides assisted living services, or a continuing care retirement community.
The retirement housing industry has matured considerably over the past three
decades as the elderly population increased and more senior housing
alternatives are sought. Retirement housing expanded beyond the early
dominance of life care and continuing care retirement communities (CCRCs).
These communities, which typically included independent living and nursing care
on a single campus, typically charge residents a high entrance fee and a
moderate monthly service fee. Rental retirement communities represented a
major area of growth in the 1980s.
Today’s retirement community is generally a smaller complex consisting of 100 to
200 independent living units as compared to the 200 to 300 independent living
units that characterized the early CCRCs. In some cases, communities are
developed in stages to avoid some of the up front risk associated with initial
lease-up, and to allow the facility to be more responsive to market needs and
preferences.
The rental retirement communities of the early 1980s typically offered no nursing
care or assistance with daily living. Rather, these facilities were designed to
provide hospitality services such as meals, housekeeping, transportation, and
recreational activities. These facilities met with slow lease-up rates and
exceedingly high turnover due to their inability to meet changing needs of
residents.
Independent living communities, particularly rental communities, are the least
heavily monitored and the least governed by state regulations of all senior
housing communities. In some states, this has resulted in a fair degree of
flexibility in providing additional services.
Over the last decade, retirement communities have been attracting an older and
somewhat frailer population than originally anticipated. The average age of
entrance into an independent living facility is between the late 70’s and early
80’s, rather than the late 60’s and early 70’s as originally anticipated. As a result
of the change in resident profile, as well as the experience gained in the 1980s, it
is clear that some form of health care or supportive services for the frail elderly is
a necessary component of a retirement community.
The recession and slowdown of the housing market has impacted the
independent living and CCRC segment of senior housing more significantly than
assisted living and skilled nursing. These prospective residents have the most
flexibility in delaying entry and/or choosing a lower priced active adult complex
instead of a full amenity independent living or CCRC facility. Construction starts
have dropped considerably since 2008, which should help the industry slowly
absorb excess inventory in some markets. Facilities have also responded to
lowered occupancy levels by seeking more ways of keeping residents as acuity
levels rise, as well as offering move-in promotions to lease vacant units.
ASSISTED LIVING
The emergence of assisted living in the 1990s as an option in the long-term care
continuum for elders represented the convergence of social, political, economic
and treatment trends. Prior to this time, most dependent seniors had only two
long-term care options: be cared for by a family member or enter an
institutionalized nursing home. Today, these limited options are inadequate to
serve the diverse needs of the elderly population. For many elderly, individual
nursing homes are overly intensive, expensive and institutional. In response,
assisted living is a favored form of long-term care for those seniors with
moderate to intermediate care needs.
The Assisted Living Federation of America defines assisted living as a long-term
care option that combines housing, support services and health care, as needed.
Assisted living is designed for individuals who require assistance with everyday
activities such as meals, medication management or assistance, bathing,
dressing and transportation. Some residents may have memory disorders
including Alzheimer's, or they may need help with mobility, incontinence or other
challenges. Residents are assessed upon move in, or any time there is a change
in condition. The assessment is used to develop an Individualized Service Plan.
Although the general characteristics and philosophy behind assisted living are
consistent throughout the country, there is no consensus on a legal definition of
this term. Some states enacted laws using the term assisted living; however, in
most jurisdictions, licensure statutes contain a variety of programs and services.
In referring to residential housing and services, most state licensing laws use
terms such as: adult homes, personal care homes, homes for the aged,
supportive living facilities, residential care facilities, board and care homes,
elderly group homes, congregate care housing and senior housing.
Typically, a resident will have a compact studio or efficiency apartment with a
private bathroom. The living space may or may not include a kitchenette (sink
and small refrigerator), a living room or storage space. Economics generally
dictate the size of the private living space, which can range from a small one-
room efficiency of less than 300 square feet to a large two-bedroom apartment of
750square feet or larger.
Assisted living residences also provide for a considerable amount of common
space for the residents. Newer assisted living facilities generally allocate
approximately 40 percent of the total gross square footage of the building to
common areas. Such space includes dining rooms, libraries, lounges, activity
centers, kitchens and laundry rooms. The size of an assisted living facility
depends on many variables, including market forces and site constraints. Most
new freestanding facilities typically provide 40 to 100units.
The level of service in assisted living facilities varies substantially. However,
there are certain basic services generally offered including:
24-hour a day on-site supervision or access to an emergency call system;
Two or three meals and regular snacks are available;Light housekeeping
and laundry services are available;Some level of daily personal care from
the facility staff;
A personalized health care plan delineating how a resident’s health care
needs may be addressed; and
Recreational activities, social services and transportation resources.
An objective of assisted living is to enable residents to age in-place. Thus, the
level of personal care, congregate services or health care services may be
adjusted upwards as needed. However, this may prove difficult if residents need
increasing amounts of nursing care since state law may limit or prohibit skilled
nursing care in assisted living facilities. Despite this issue, there is a growing
trend by states to extend the scope of assisted living services far into the long-
term care continuum.
According to the National Center for Assisted Living (NCAL), the average age of
residents in assisted living facilities in 2009 was 86.9 years. The typical resident
is a female who is single or widowed. Today’s assisted living residents have care
needs and characteristics previously associated with patients in intermediate
care nursing homes in the 1970s and 1980s. Senior care needs are gauged by
the extent to which an individual requires regular assistance with ongoing
activities of daily living (ADLs) such as bathing, eating, walking, toileting and
dressing. In order to determine that there is an ADL dependency, a clinician must
determine that an individual cannot safely or routinely perform a specific activity
without assistance, and unless such help is provided, the individual is at risk of
not meeting an essential daily need.
The typical assisted living resident needs assistance with approximately two
ADLs. While the number of ADLs with which a person needs assistance is used
clinically as a measure of dependency, such dependency does not necessarily
mean that medical care is required. In assisted living facilities, residents
generally have at least one ADL dependency, and it is not uncommon that they
have as many as three or four.
ALZHEIMER’S
In a 2012 study by the Alzheimer’s Association (2012 Alzheimer’s Disease Facts
and Figures), Alzheimer’s disease is the most common cause of dementia
among people age 65 and older. Currently, an estimated 5.4 million Americans of
all ages have Alzheimer’s disease. This includes 5.2 million people who are aged
65 and older. The number of Americans with Alzheimer’s is increasing every year
because of the steady growth in the older population, and this number will
continue to increase and escalate rapidly in the coming years as the baby boom
generation ages.
The report further found:
One in eight persons aged 65+ have Alzheimer’s disease.
Of people aged 85+, 45 percent have Alzheimer’s disease.
In 2011, the first baby boomers turned 65. By 2029, all baby
boomers will be at least 65 years old.
By 2025, the number of people age 65 and older with
Alzheimer’s disease is estimated to reach 6.7 million — a 30 percent
increase from the 5.2 million age 65 and older currently affected.
In 2012, the 85-years-and-older population includes about 2.5
million people with Alzheimer’s disease, or 48 percent of the Alzheimer’s
population age 65 and older. When the first wave of baby boomers
reaches age 85 (in 2031), an estimated 3.5 million people age 85 and
older will have Alzheimer’s.
Aggregate payments for health care, long-term care and hospice
for people with Alzheimer’s disease and other dementias are projected to
increase from $200 billion in 2012 to $1.1 trillion in 2050 (in 2012 dollars).
Medicare and Medicaid cover about 70 percent of the costs of care.
Average survival time was four to six years after diagnosis, but
survival can be as long as 20 years from first symptoms.
OCCUPANCY PATTERNS
Occupancy data compiled by the American Seniors Housing Association (ASHA),
and published in The State of Seniors Housing 2014, for the various senior
housing community types (congregate, assisted and CCRCs) has been
summarized in the following table.
After reaching a low point in 2010, Independent living communities have shown
positive gains each year, while Assisted Living performance has been more
erratic but up from their low points in 2012.
CCRCs were also impacted by the recession and slow housing market, as
prospective residents often delayed entry. However, 2013 performance shows an
increase and for the first time in four years a level close to breaking the 90
percent level.
In more recent data compiled by NIC MAP reviewing data through Q3 2014:
Independent Living occupancy has increased to 90.9 percent in
Q3 2014, an increase of 40 bps from the prior quarter and up 140 bps from
a year ago.
Assisted Living occupancy increased in Q3 2014 to average 89.4
percent, an increase of 50 bps from the prior quarter and up 50 bps from a
year ago.
Nursing home occupancy was 88.3 percent in Q3 2014,
unchanged from the prior quarter and up 70 bps from a year ago.
CCRC occupancy was 90.1 percent in Q3 2014, up 30 bps from
the prior quarter and 110 bps from a year ago. Occupancy in entrance fee
CCRCs was up 20 bps, and rental CCRCs occupancy was up 50bps from
the prior quarter.
The average length of stay in a senior housing facility also varies with the facility
type. Following is a table that sets forth the average length of stay, based on data
compiled by ASHA and published in The State of Seniors Housing 2014.
The average length of stay decreased for most property types. Additionally, more
states are permitting assisted living facilities to manage higher acuity levels in an
effort to relieve pressure on nursing home expenditures, causing an overall
increase in length of stay within assisted living when compared to figures
reported a decade ago.
ABSORPTION TRENDS
Net absorption data compiled by ASHA for senior housing facilities is
summarized in the following table. We note that this is the most recent
information that has been published.
As seen, initial absorption of new residents for all facility types is strong in the
first month, but then tapers off during the following months and second and third
years.
While the above published data is the most recent available, we acknowledge
that absorption rates in most regions have certainly been impacted by the
slowdown in the residential markets, as prospective residents choose to delay
entry, or are unable to move as they await the sale of their home. Marketing
professionals interviewed have indicated the sales-cycle has lengthened for both
independent living and assisted living prospective residents. While no timely
national average publications are available on this topic, the historical absorption
trends may not be applicable in many of today's markets.
NIC MAP’s Q3 2014 monitor report shows annual absorption continues to remain
positive as the number of occupied units increased by 4,879 in Q3 2014,
representing absorption of 1.0% during the quarter. Annual absorption as of Q3
2014 was at 2.9%, up 20 bps from the prior quarter’s pace.
The pace of inventory growth may be beginning to accelerate as this quarter
delivered the most units since the third quarter of 2009. In Q3 2014, inventory
increased by 2,650 units, representing an increase in inventory of 0.5% during
the quarter. Inventory increased by 1.7% during the past year, up 20 bps from
the prior quarter’s pace. In Q3 2014, there were 18,163 units remaining in the
construction pipeline, down 2% from the prior quarter and up 1% from a year
ago.
ACQUISITION MARKET
According to The Senior Care Acquisition Report, Nineteenth Edition, 2014,
published by Irving Levin Associates, after a slow two-year period in 2008 and
2009 with distressed sales predominating the market and lenders in hiding, the
seniors housing and care acquisition market turned the corner in the third quarter
of 2010 and continues to display positive growth.
While REITS dominated 2011 activity, 2012 saw a drop off in REIT activity as the
large deals have become increasingly expensive. In 2013, the dollar value of
publicly announced transaction increased by 14 percent to $163.5 billion, still far
short of 2011’s $231.0 billion.
Important factors impacting 2013 mergers and acquisitions include:
The health care economy continues to grow
IL/AL being bolstered by an improving economy and housing
market, as well as the rising wealth of seniors population as the stock
market hit record highs in 2013
Occupancy across the sector has improved
On the skilled nursing side, the Affordable Care Act has had
some impact on acquisition activity as buyers line up strategic
acquisitions The report also indicated the average price per unit for IL/AL
communities in 2013 increased by 5% to $164,000 per unit, nearing the
record set in 2007. The report indicated the following average price points
for IL/AL properties:
The increase in average IL/AL price was due to the 38% increase in IL average
prices, which was influenced by a few portfolios with $200K+ and some $400K+
per unit sales. The assisted living units were down by 4.5%.
In terms of region, the report indicated the following 2013 performance:
For the fourth consecutive year, the Northeast region had the highest average
price per unit at $185,000; however, this is down from the prior year’s $249,500
per unit.
Going forward, the fundamentals of senior housing will nonetheless result in an
increase in new development although the tightened credit markets will likely
inhibit any notable degree of construction over the short-term. With the industry
more knowledgeable and sophisticated today than during the overbuilding period
of the 1990s, the fundamentals of the market should provide for consistent long-
term growth in the industry.
FLORIDA ASSISTED LIVING ENVIRONMENT
Definition & Licensure
As reported by Florida Healthcare Association, by 2025, the proportion of
Florida's population older than 65 years of age is expected to be 26% of our
state's population (19% in 1995). This proportion is significantly greater than the
projected national rate of 19.6% in 2030 and poses both challenges and
opportunities for Florida's assisted living facilities. As assisted living facilities
position themselves to serve this increasing older population, external pressures
are forming which will influence regulatory policy and facility operations.
Florida’s elder services system is operated by three state agencies and
contracted public and private providers. The Department of Elder Affairs has the
primary state responsibility for services to elders. The department also
determines medical and functional eligibility for Medicaid nursing home
admissions and waiver programs through its Comprehensive Assessment and
Review for Long-Term Care Services (CARES) Program.
The Agency for Health Care Administration, as the state Medicaid agency, issues
certificates of need for nursing homes, regulates nursing homes and hospice
care, and operates five Medicaid long-term care waiver programs for seniors.
The Department of Children and Families determines financial and technical
eligibility for Medicaid-funded nursing home admissions, Medicaid waiver
programs, and public assistance programs, such as Medicaid, food stamps, and
cash assistance.
An “assisted living facility” is defined as any building or buildings, section or
distinct part of a building, private home, boarding home, home for the aged, or
other residential facility, whether operated for profit or not, which undertakes
through its ownership or management to provide housing, meals, and one or
more personal services for a period exceeding 24 hours to one or more adults
who are not relatives of the owner or administrator.
Four licensure types are available: standard, limited nursing service, limited
mental health, and extended congregate care.
Standard: A facility licensed to provide housing, meals, and one or more personal
care services for a period exceeding 24 hours. Personal services include direct
physical assistance with or supervision of a resident’s activities of daily living
(ADL) and the self-administration of medication and similar services. The facility
may employ or contract with a person licensed under Chapter 464, F.S., to
administer medication and perform other tasks as specified in §400.4255, F.S.,
such as take vital signs, manage individual weekly pill organizers for residents
who self-administer medication, give prepackaged enemas ordered by the
physician, observe residents, and document in the resident’s record.
Limited nursing services (LNS): A facility licensed to provide a select number of
nursing services. Residents of facilities licensed to provide LNS services are
required to meet the standard ALF admission criteria. However, in addition to the
nursing services permitted in standard license, facilities holding a LNS license
may provide, directly or through contract, the following limited nursing services:
conducting passive range of motion exercises; applying ice caps or collars;
applying heat; cutting toenails of diabetic residents or residents with a
documented circulatory problem if the written approval of the resident’s health
care provider has been obtained; performing ear and eye irrigations; conducting
a urine dipstick test; replacing established self-maintained in-dwelling catheter or
performing intermittent urinary catheterizations; performing digital stool removal
therapies; applying and changing routine dressings that do not require packing or
irrigation, but are for abrasions, skin tears, and closed surgical wounds; caring for
Stage II pressure sores; caring for casts, braces, and splints; conducting nursing
assessments if conducted by, or under the direct supervision of, a registered
nurse; and for hospice patients, providing any nursing service permitted within
the scope of the nurse’s license, including 24-hour supervision.
Extended congregate care (ECC): A facility licensed to provide any of the
services under a standard license and LNS license, including any nursing service
permitted within the scope of the nurse’s license consistent with ALF residency
requirements and the facility’s written policy and procedures. A facility with this
type of license enables residents to age in place in a residential environment
despite mental or physical limitations that might otherwise disqualify them from
residency under a standard or LNS license.
Limited mental health license: An ALF that is licensed to serve three or more
mental health residents. A mental health resident is an individual who receives
social security disability income or SSI income due to a mental disorder as
defined by the Social Security Administration and receives optional state
supplementation.
It is unlawful to own, operate, or maintain an assisted living facility without
obtaining/maintaining a current ALF license. Any person who owns, operates, or
maintains an unlicensed ALF commits a felony of the third degree. ALF licenses
are required to be posted in a common area.
Currently, there are approximately 2,830 facilities in the State of Florida.
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