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t r a n s l a t e

Proposed Assisted Living and Memory Care Facility

280 Harve Mathis Road
Athens, GA 30601
PRICE : $850,000
PROPERTY TYPE: Multifamily
SITE SIZE: 8.42 Acres
UNITS: 88

Highlights

  • Assisted Living Unmet Demand: 180
  • Memory Care Unmet Demand: 73
  • Assisted Living Weighted Average Occupancy: 93%
  • Memory Care Weighted Average Occupancy: 95%
  • Median Household Income 50+: $71,584
  • Average Home Values: $211,584
  • Average Net Worth Age 55 to 64: $519,725
  • Average Net Worth Age 65 to 74: $789,226
  • Average Net Worth Age 75+: $529,894

Description

The commercial zoned 8.42 acre site is flat, wooded, and entitled for senior housing. It is located at the center of the highest density of 65+ senior population in the county with over 16.31% according to PolicyMap. Clarke County has the highest incidence of Alzheimer's in the State of Georgia with 14.6% .

In addition, the US Census shows that for the population 75+, the independent living difficulty rate is 26% while the "cognitive impairment" rate is also high at 16.6%. CMS data also shows there are over 4,169 patients under cognitive enhancing drugs for Alzheimer's, being prescribed by the top Namenda/Exelon prescribing physicians in that market -- that is a factor of 34 Alzheimer's patients per every Memory Care Unit.

Site has a "country feel" within the Athens MSA perimeter, and in a developing commercial area experiencing rapid growth with several planned retail projects, as indicated by Athens-Clarke Land Development Plan (see attached). Site is in the vicinity of a new Kroger Mart, Piedmont Urgent Care, Athens Technical College, Athens Christian Academy, VA Administration, and within a 12 minute drive from most locations within Athens-Clarke County including The University of Georgia main campus, University of Georgia Health Center, and Piedmont General Hospital. Easy access to Athens Loop, and four lane GA 29 and GA 72 highways.

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