Assisted Living Conversion
For Sale
$749,000
8 RAINBOW LN, Waynesboro, VA 22980
Former assisted living facility with four buildings and 14 residential units, on 4.48 acres in Augusta County.
Property Size8,556 SF
Lot Size4.48 Acres
Price / SF$87.54
Days on Market108
Property Features for 8 RAINBOW LN
General Information
Standard status
Active
Size
8,556 SF
Lot size
4.48 Acres
Property subtype
Commercial
Additional Details
Multifamily Units
14
Listing Agency:
KLINE & CO. REAL ESTATE
(540) 946-4000
Listed By:
JONATHAN STALLARD
(434) 531-2707
Source:
Corcoran
Added: May 20
Changed: Sep 2
Last Checked: Sep 4 at 7:51AM
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 KLINE & CO. REAL ESTATE
Investment Insights
Based on property information with market context.
This former assisted living facility is available as an investment with a recently approved change of use for multifamily-assisted living operations for the next two years. The property includes approximately 8,156 SF across four buildings with 14 residential units, consisting of private rooms with half baths and private rooms with full baths, plus a private apartment for onsite management or owner occupancy. Supporting improvements include a generator, a commercial-grade kitchen, communal dining and gathering areas, laundry and shower facilities, and private office space.
Additional amenities include furnishings included and two detached 3-bay garage buildings. The property has been maintained since the prior assisted living closure and is situated on 4.48 acres in Augusta County.
The current unit mix offers a combination of private rooms and a management/owner apartment within a multi-building setting, along with practical back-of-house and common area components designed for residential care operations.
Additional amenities include furnishings included and two detached 3-bay garage buildings. The property has been maintained since the prior assisted living closure and is situated on 4.48 acres in Augusta County.
The current unit mix offers a combination of private rooms and a management/owner apartment within a multi-building setting, along with practical back-of-house and common area components designed for residential care operations.
Key Highlights
- Recently approved change of use for multifamily‑assisted living operations for the next two years
- Former assisted living facility with approx. 8,156 SF across four buildings and 14 residential units
- Unit mix: 6 private rooms with half baths, 7 private rooms with full baths, and 1 private apartment for on‑site management or owner occupancy
Property Analytics
Property Profile
Current Use
Lease Details
14
Residential units
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 22980, VA
33,049
Population
14,711
Households
2.2
Avg Household Size
43
Median Age
25%
College-Educated
91%
High-School Grad
74.5 sq mi
ZIP Area
444
Density / Sq Mi
$63,176
Median Household Income
$41,839
Median Earnings
$968
Median Rent
$256,000
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Assisted living facility - Former assisted living facility with four buildings and 14 residential units, on 4.48 acres in Augusta County.
Where is this assisted living facility located?
The property is located at 8 RAINBOW LN Waynesboro, VA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Recently approved change of use for multifamily‑assisted living operations for the next two years; Former assisted living facility with approx. 8,156 SF across four buildings and 14 residential units; Unit mix: 6 private rooms with half baths, 7 private rooms with full baths, and 1 private apartment for on‑site management or owner occupancy
