Senior Housing Development Site | ± 24.5 Acres

0 Langford Drive Watkinsville, GA 30677

0 Langford Drive , Watkinsville, GA, 30677
0 Langford Drive , Watkinsville, GA, 30677
FOR SALE
Property Type:
Other Land
Amount:
$4,900,000
Last Verified:
Jan 06, 2021

Highlights

  • ± 24.5 acres with $2.4 million in infrastructure in affluent area of the Athens 200,000+ MSA
  • Entitled for 158 senior-living units and 48 senior cottages. Additional ± 6.3 acres available.
  • Located next to Jennings Mill Country Club near a destination shopping mall, medical offices, Piedmont Oconee Health Campus and the DaVita's Dialysis Center
  • Unmet Demand - Independent Living: 136, Assisted Living: 245 and Memory Care: 173
  • Overall occupancy in PMA: 97%
  • Market Rents- IL Cottages: $3,000-$4,000 | AL: $4,0000-$5,000 | MC: $6,000 +
  • Household Income (55+): $114,694 | Net Worth: $1,807,293 | House Value: $317,112
  • May 2019 appraisal was $5,900,000

Description

The Fairways Senior Village is a turnkey, micro CCRC (Continuing Care Retirement Community) development in the affluent Athens submarket of Watkinsville. The site is currently zoned OIP (Office Institutional Professional) and is conditioned specifically for a CCRC (Continuing Care Retirement Community) making it the only property in Oconee county which is zoned this way. It has over ± 744' of frontage on GA-316, which has a traffic count of 22,990 vehicles per day.

The ± 24.5 acre site is divided into 2 sections that can be purchased together or separately. Section 1A is comprised of ± 17.9 acres and is entitled for 48 senior cottages, 2,000 SF each. Section 1B is comprised of ± 6.5 acres and entitled for a 158-unit, 115,000 SF, independent living facility. The site includes infrastructure for roads, street lights, utilities and sewer with connection fees included (total of ± 24.5 acres). Possible assemblage with adjacent ± 6.3 acres. This project includes a market study/feasibility study, site plan, survey, geotech reports, elevations and work plans for the 48 senior cottages.

Watkinsville is located about one-hour from Metro Atlanta and in the path of growth between Athens and Atlanta. The average net worth within a 3 mile radius of the site for age 75+ is $1,116,400, the community is part of the Athens 200,000+ population MSA which ranks #3 out of 26 most desirable retirement destinations in the US according to Forbes Magazine.

Turn-Key Senior Housing land development in very affluent area of the Athens, GA market in Watkinsville, adjacent to Jennings Mill Country Club. Development is also located in the middle of new offices, including medical, retail, and the new Piedmont Hospital.

Building Size: 0sq ft
Lot Size: 24.5 acres

Map of 0 Langford Drive , Watkinsville, GA, 30677

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