ID#043188   Approximated Beds/Units:  40/28     Location:   Houston

Another firm is pleased to present this offering of a new assisted living and memory care development located in the Houston MSA. The site was originally planned for six buildings (five residential cottages and one community center), an assisted living and memory care campus providing a total of 70 units/100 beds. The current offering includes the completion of three buildings (two residential buildings and one community center) with a total of twenty-eight units and forty-four beds. The three buildings have a combined 26,979 square feet. The site is situated on approximately 5.43 acres and has improvements made to the grounds of concrete parking lots, driveways, and a detention pond. A new owner can continue with the cottage model or do one large two-story facility of independent, assisted living, or memory care. The facility is located near a subdivision with home prices ranging from $580,000 to $950,000. It is located on a well-traveled boulevard leading into three different parts of Houston MSA with several commercial and residential developments. The average household income within a one-mile radius is over $190,000. The population within a five-mile radius is over 190,000 residents. The 75 and older age cohort is over 9,500 residents (with a median income of over $44,000) and is projected to grow by 29 percent by 2026. This opportunity offers a buyer the ability to purchase a new assisted living and memory care development without the typical time frame of new development projects giving a quicker return on their investment. They can also either expand the campus as originally intended or with a larger building providing the opportunity for higher returns. The owner will also consider Lease-to-Purchase from qualified buyers.

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Houston $8.5M ID#043188

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