ID#010838 Approximate Beds/Units: 47/42 Location: Suwanee
An associate firm is pleased to introduce the opportunity to acquire a 29,641 SF Health Care Building with 42 units/47 beds. The facility is in the rapidly growing Atlanta suburb of Suwanee. The building sits on 2.991 acres. The surrounding market area has demographics that are very favorable for senior housing. The 75+ population is forecast to grow by 7.17% annually between 2022 and 2027 – nearly double the national growth rate. Income levels are high, with an all-ages median of $88K, which is greater than both the MSA and national all-ages medians. Lastly, the area has a robust housing market, with a median housing value of $313K. 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 seniors 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.