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7098 Fernwood St - 125-Unit Assisted Living or Memory Care Site 3.92 Acres of Commercial Land Offered at $2,652,248 CAD in Henrico, VA 23228
INVESTMENT HIGHLIGHTS
- Within the Carriage Hill CCRC
- 31 units can be independent living
- Glenside Submarket
- Fully entitled & site plan approved
EXECUTIVE SUMMARY
This is a rare opportunity to develop 125 additional assisted living units within Carriage Hill.
The site is owned as a land condo within the existing development. No more than 31 units can be independent living and any or all of the units can be memory care.
There is also potential for townhouse development here with a rezoning if the units were condo. *Townhouse would require a rezoning and would need to be in a condominium regime.
DATA ROOM Click Here to Access
PROPERTY FACTS
| Price | $2,652,248 CAD | Property Subtype | Commercial |
| Sale Type | Investment or Owner User | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 3.92 AC |
| Property Type | Land | ||
| Zoning | R-6C | ||
| Price | $2,652,248 CAD |
| Sale Type | Investment or Owner User |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 3.92 AC |
| Zoning | R-6C |
1 LOT AVAILABLE
Lot
| Price | $2,652,248 CAD | Lot Size | 3.92 AC |
| Price Per AC | $676,593.90 CAD |
| Price | $2,652,248 CAD |
| Price Per AC | $676,593.90 CAD |
| Lot Size | 3.92 AC |
DESCRIPTION
DEMOGRAPHIC & MARKET DEMAND • High population of seniors (typically 75+ years old) • Strong median income and home values(ability to afford care) • Demand-supply gap (few existing facilities or long waitlists) • Proximity to adult children who may be decision-makers LOCATION & ACCESSIBILITY • Close to hospitals, medical offices, and pharmacies • Near grocery stores, shopping centers, and entertainment • Easy access via main roads and highways • Public transportation availability for residents and staff WORKFORCE AVAILABILITY • Access to caregivers, nurses, and support staff • Competitive labor market with reasonable wages • Nearby public transportation for employees COMPETITION & REFERRAL SOURCES • Limited direct competition within a specific radius • Proximity to hospitals and physicians who can refer residents
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7098 Fernwood St - 125-Unit Assisted Living or Memory Care Site
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