ID#010839 Approximate Beds/Units: 54/50 Location: Alpharetta
An associate firm is pleased to introduce to acquire a 50-unit/54-bed memory care community in the rapidly growing Atlanta-Alpharetta Metroplex. The building is 36,296 SF and sits on 3.4 acres. The surrounding market area has demographics that are very favorable for senior housing. The 65+ population is forecast to grow by 4.18% annually between 2022 and 2027, representing an additional 9,200 seniors – greater than both the MSA and national growth projections. Income levels are high, as the all-ages median is on average 40% higher than MSA levels and 44% higher than national levels. Lastly, the area has a robust housing market, with a median housing value of $457K. The seniors housing market experienced occupancy and profit margin declines because of the COVID-19 Pandemic but is now positioned to deliver out-sized returns to investors. This asset is vacant and not currently operating – buyers may elect to re-open as senior housing or memory care. The seller will consider providing financing to qualified bidders. The property suffered damages from the freeze earlier in 2023, and much of the sheetrock and flooring has been removed. The property is being sold on an “as is” basis. The seller will consider owner financing for qualified buyers.