Senior Housing Development Land
For Sale
$1,900,000
7098 Fernwood St, Richmond, VA 23228
Land condo within an existing senior housing community supports expansion with restrictions on independent living and memory care units.
Property SizeContact for details
Days on Market118
Property Features for 7098 Fernwood St
General Information
Standard status
Active
Property subtype
Commercial
Additional Details
Highway Access
Yes
Building Details
Year Built
1966
Stories
3
Listing Agency:
One South Commercial
(804) 690-1482
Listed By:
Ryan Rilee · License #0225187102
(804) 690-1482
Source:
Elliman
Added: Apr 27
Changed: Aug 21
Last Checked: Aug 22 at 9:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of One South Commercial
Investment Insights
Based on property information with market context.
This offering is a land condo interest within the established Acclaim at Carriage Hill senior housing community. The community was originally built in 1967 and 1979 and is described as a destination for residents over age 55. The site is owned as a land condo within the existing development and is presented as an opportunity to add additional assisted living units, with project parameters noted in the offering materials.
The property is described as being just west of the city and just north of I-64. The remarks also note nearby healthcare options, including HCA Parham Henrico Doctors, Bon Secours St. Mary’s, and VCU Medical Center, along with local dining, retail, and entertainment.
Per the provided details, no more than 31 units can be independent living, and any or all of the units can be memory care. The remarks also indicate potential for townhouse development, which would require rezoning and would need to be in a condominium regime.
The property is described as being just west of the city and just north of I-64. The remarks also note nearby healthcare options, including HCA Parham Henrico Doctors, Bon Secours St. Mary’s, and VCU Medical Center, along with local dining, retail, and entertainment.
Per the provided details, no more than 31 units can be independent living, and any or all of the units can be memory care. The remarks also indicate potential for townhouse development, which would require rezoning and would need to be in a condominium regime.
Key Highlights
- Land condo within the existing Acclaim at Carriage Hill senior housing community, positioned for expansion.
- Development opportunity to add 125 assisted living units within Carriage Hill.
- Restrictions: no more than 31 units can be independent living; any or all units can be memory care.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
907
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23228, VA
36,384
Population
16,724
Households
2.2
Avg Household Size
37
Median Age
31%
College-Educated
89%
High-School Grad
11.1 sq mi
ZIP Area
3,278
Density / Sq Mi
$65,650
Median Household Income
$43,883
Median Earnings
$1,410
Median Rent
$267,300
Median Home Value
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Similar Off Market Nearby
- Amada Senior Care — 6800 Paragon Pl, Richmond, VA 23230
- Assisted Living Locators of Greater Richmond — 10440 Greglynn Rd, Richmond, VA 23236
Frequently Asked Questions
What type of property is this?
Assisted living facility - Land condo within an existing senior housing community supports expansion with restrictions on independent living and memory care units.
Where is this assisted living facility located?
The property is located at 7098 Fernwood St Richmond, VA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Land condo within the existing Acclaim at Carriage Hill senior housing community, positioned for expansion.; Development opportunity to add 125 assisted living units within Carriage Hill.; Restrictions: no more than 31 units can be independent living; any or all units can be memory care.
