Athens Medical Facility on 23
For Sale
Contact for pricing
8579 State Hwy 31 W, Athens, TX 75751
Vacant medical facility with 59 patient rooms on 23 acres.
Property Size27,176 SF
Lot Size23.00 Acres
Price / SF$103.03
Days on Market1776
Property Features for 8579 State Hwy 31 W
General Information
Standard status
Active
Size
27,176 SF
Class
B
Lot size
23.00 Acres
Property subtype
Senior Living, Special Purpose
Zoning
Not Zoned
Investment Type
Owner/User
Building Details
Year Built
1987
Year Renovated
2021
Buildings
2
Stories
1
Units
59
Listing Agency:
KW Commercial
Listed By:
Stacy Villanueva · License #TX 0748726
(972) 732-6000
Source:
Crexi
Added: Dec 3, 2021
Changed: Oct 5
Last Checked: Oct 12 at 6:55PM
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 KW Commercial
Investment Insights
Based on property information with market context.
Located just outside of Athens city limits along State Highway 31 W, this vacant medical facility is available for sale or lease. The property includes 23 acres of land and a 27,176 square foot building, according to tax records, with 59 patient rooms. An on-site sewer facility is also included. Some improvements and modifications have been made to meet the state requirements for Assisted Living and Memory Care. Situated in the county, outside of city limits, the property has no zoning restrictions. Athens is a Certified Texas Retirement Community, connected to middle and East Texas via state and county roads, and approximately one hour from Dallas/Ft. Worth. The property is near hospitals, medical providers, hotels, shopping centers, lakes, restaurants, entertainment venues, and educational institutions. Essential utilities, including water, electricity, and an on-site sewer facility, are available. Athens Municipal Airport is 7.7 miles away, Tyler Pounds Regional Airport is 38 miles away, and DFW International Airport is 104 miles away. The location is experiencing steady growth.
Key Highlights
- 23± acres of land with a 27,176± sf building (59 patient rooms) and on‑site sewer facility.
- Located outside city limits with no zoning restrictions, offering flexible development possibilities.
- Proximity to hospitals, medical providers, hotels, shopping centers, lakes, restaurants, entertainment venues, and educational institutions.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$194,141
Cap Rate
6.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,882,820
$3.9M
Cap Rate 7%
$2,773,443
$2.8M
Cap Rate 9%
$2,157,122
$2.2M
Market Conditions
NOI Build-Up for 27,176 SF
Gross rent
$401.1K $14.76/SF
− Vacancy
−$48.1K −$1.77/SF
EGI
$353.0K $12.99/SF
− OpEx
−$158.8K −$5.84/SF
NOI
$194.1K $7.14/SF
Area
Henderson County, TX
Vacancy
12.00%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,882,820
Cap Rate 7%
$2,773,443
Cap Rate 9%
$2,157,122
Alternative Uses
Best Use
Apartment 5plus
$2.77M
$2.43M – $3.24M
NOI $194,141 @ 7.0% cap · market cap 6.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.56M
$8.36M – $11.15M
NOI $669,182 @ 7.0% cap · market cap 23.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75751, TX
17,100
Population
7,432
Households
2.3
Avg Household Size
39
Median Age
20%
College-Educated
85%
High-School Grad
180.4 sq mi
ZIP Area
95
Density / Sq Mi
$71,524
Median Household Income
$31,897
Median Earnings
$1,063
Median Rent
$205,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Assisted living facility - Vacant medical facility with 59 patient rooms on 23 acres.
Where is this assisted living facility located?
The property is located at 8579 State Hwy 31 W Athens, TX.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 23± acres of land with a **27,176± sf building (59 patient rooms)** and on‑site sewer facility.; Located outside city limits with **no zoning restrictions**, offering flexible development possibilities.; Proximity to hospitals, medical providers, hotels, shopping centers, lakes, restaurants, entertainment venues, and educational institutions.
