Assisted Living Facility
For Sale
Contact for pricing
7804 & 7806 Forest Hill Avenue, Richmond, VA 23225
Two assisted living facilities on a resident campus with 134 licensed beds under long-term NN leases.
Property Size33,548 SF
Lot Size4.10 Acres
Days on Market124
Property Features for 7804 & 7806 Forest Hill Avenue
General Information
Standard status
Active
Size
33,548 SF
Lot size
4.10 Acres
Property subtype
Land, Senior Living
Financials
Cap Rate
8.6%
Business Included
Yes
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Tenancy
Single
Listing Agency:
One South Commercial
(804) 353-0009
Listed By:
Tom Rosman · License #VA 0225030879
Source:
Crexi
Added: Apr 10
Changed: Aug 8
Last Checked: Jul 20 at 5:29PM
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.
Kenmore Forest is a turn-key long-term stable NN-lease investment opportunity comprising two assisted living facilities at 7804 and 7806 Forest Hill Avenue. The properties can be purchased together or separately and are positioned as a contiguous resident campus with a total of 33,548 SF and 134 licensed assisted living beds. The facilities operate under a special use permit, with all beds financially guaranteed by state funding.
The campus features significant frontage along the Forest Hill Avenue corridor and includes a wooded buffer encircling the property line. Stratford Hills and Bethany Spring Apartments and Elkhardt-Thompson Middle School are located immediately across the street on the south side of Forest Hill Avenue.
Both properties are leased under long-term NN leases to a single tenant. The leases have operated on five-year renewal cycles since 2003 and continue in place with additional options to renew. Tenant responsibilities include 100% building insurance reimbursement and all other maintenance items, including building repairs, parking lot paving, landscaping, and janitorial. Owner expenses are limited to real estate taxes and roof maintenance only.
The campus features significant frontage along the Forest Hill Avenue corridor and includes a wooded buffer encircling the property line. Stratford Hills and Bethany Spring Apartments and Elkhardt-Thompson Middle School are located immediately across the street on the south side of Forest Hill Avenue.
Both properties are leased under long-term NN leases to a single tenant. The leases have operated on five-year renewal cycles since 2003 and continue in place with additional options to renew. Tenant responsibilities include 100% building insurance reimbursement and all other maintenance items, including building repairs, parking lot paving, landscaping, and janitorial. Owner expenses are limited to real estate taxes and roof maintenance only.
Key Highlights
- Two assisted living facilities at 7804 and 7806 Forest Hill Ave, offered together or separately
- 33,548 SF assisted living facilities on a contiguous 4.1‑acre resident campus
- 134 licensed assisted living beds under special use permit, financially guaranteed by state funding
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
339
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23225, VA
40,876
Population
21,545
Households
1.9
Avg Household Size
38
Median Age
41%
College-Educated
91%
High-School Grad
13.9 sq mi
ZIP Area
2,941
Density / Sq Mi
$60,865
Median Household Income
$43,550
Median Earnings
$1,311
Median Rent
$292,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Assisted living facility - Two assisted living facilities on a resident campus with 134 licensed beds under long-term NN leases.
Where is this assisted living facility located?
The property is located at 7804 & 7806 Forest Hill Avenue Richmond, VA.
What are key features of this property?
This property features: Two assisted living facilities at 7804 and 7806 Forest Hill Ave, offered together or separately; 33,548 SF assisted living facilities on a contiguous 4.1‑acre resident campus; 134 licensed assisted living beds under special use permit, financially guaranteed by state funding
