Athens Medical Facility on 23
8579 State Hwy 31 W, Athens, TX 75751
Vacant medical facility with 59 patient rooms on 23 acres.
Type:Senior Living, Special Purpose
Property size:
27,176 SFLot size:
23.00 AcresPrice / SF:
$103/SF- Added:
- Dec 3, 2021
- Days on Market:
- 1677
- Last Refresh:
- Jul 2 at 7:04 am
Property Features for 8579 State Hwy 31 W
General Information
- Standard status
- Active
- Size
- 27,176 SF
- Lot size
- 23.00 Acres
- Property subtype
- Senior Living, Special Purpose
Building Details
- Year Built
- 1987
Listing office KW Commercial
Listing date Dec 3, 2021
Source Crexi
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
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.
- Located in Athens, a Certified Texas Retirement Community, approximately one hour from Dallas/Ft. Worth.
- Some improvements & modifications have been made to meet state requirements for Assisted Living & Memory Care.
- Equipped with essential utilities, including water, electricity, and an on‑site sewer facility.
Overview
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.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $401.1k | $14.76 |
| − Vacancy | −$48.1k | −$1.77 |
| EGI | $353.0k | $12.99 |
| − OpEx | −$158.8k | −$5.84 |
| NOI | $194.1k | $7.14 |
27,176 SF · lease $14.76/SF/yr · vacancy 12.00% · expense 45.00%
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 local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Assisted living facilities
Location Insight
- Map
- Local Demand
- City
- Athens
- County
- Henderson
- State
- Texas
- Longitude
- -95.924463
- Latitude
- 32.190988
Nearby Similar for Sale
FAQs
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.
