| PRICE : | $4,000,000 |
|---|---|
| PRICE PER ACRE: | $327,869 |
| PROPERTY TYPE: | Senior Housing |
| SITE SIZE: | 12.20 Acres |
| BUILDING SIZE: | 9,600 SF |
Highlights
- • 10-mile IL Demand is 517 units growing to 659 units in 2028 | 27.4% growth
- • There are 33 IL units in the 10-mile Primary Market Area with no new planned units
- • The only majority Independent Living Facility is The Retreat with 33 IL units | 10 miles away in Conyers
- • The 10-mile IL unmet demand is 484 units growing to 626 in 2028 | 29.3% growth
- • Average 10-mile home value: $242,226.00
- • Potential Joint Venture
Description
The Senior Housing Group at Bull Realty, Inc. is pleased to present a ± 12.2 AC land development in historic Covington, GA for a 204-Unit Independent Living Class A Facility, plus ± 9,600 SF medical office and pharmacy space.
This upscale Independent Living development is located in a fast growing commercial area of Covington with easy access to I-20 and across the street from the Newton County Senior Services at 6183 Turner Lake Road. The site is adjacent to a large senior community center along the lake and is well located with good access and exposure.
The immediate area has no state-of-the-art independent living facilities similar to the planned operations (residents would have to travel outside the primary market area for services). The independent living units within the project can appeal to the entire spectrum of the senior population base and provide for a continuum-of care for the assisted living services as residents age-in-place. Therefore, the project is anticipated to have a lower turnover rate.
