2601 Tandy Ave - Vacant 80-Unit Assisted Living Facility

Hilco Real Estate announces April 30 as the qualified bid deadline of this currently vacant 80-unit assisted living facility. On-site inspections will be held by appointment only.
Situated in Fort Worth, Texas, Tandy Village presents itself as an compelling prospect for investors and operators within the senior housing sector. To accommodate the growth in the Dallas and Fort Worth area, expansion opportunities exist through improving services like memory care, upgrading resident amenities and maximizing bed count within existing spaces. Pre-pandemic occupancy levels of 88% underscore the offering’s historical performance and future promise. Recent renovations, include a new roof layer, upgraded flooring and expanded walk-in freezer, signifying a dedication to modernizing the property. This 69,450± SF facility awaits an opportunistic owner operator or investor to unlock its potential.
Set in Fort Worth, Texas, this property benefits from the city’s status as the nation’s thirteenth largest city and its rapid growth between 2010 and 2020. Situated in the larger Tarrant County, this region has drawn in major regional and national employers including Fortune 500 companies like AMR Corporation - American Airlines (24,700), Bank of America (20,000), Texas Health Resources Inc. (19,230), Baylor Scott & White All Saints Medical Center — Fort Worth (17,097), AT&T (15,800), Lockheed Martin Aeronautics Co. (14,126) and JPMorgan Chase & Co. (13,500). With these employment opportunities, it has driven the city’s population to nearly one million, with an anticipated annual growth rate of 1.2% until 2027.
The senior housing market is primed for significant growth over the next decade, driven by the aging “baby boomer” generation born between 1946 and 1964. With the population of Americans aged 75 and older increasing from 18.5 million in 2010 to 24.4 million in 2023 - a 31.4% growth rate or 2.1% annually - and a similar trend observed in the 85 and older demographic, rising from 5.5 million to 6.9 million during the same period, at a growth rate of 24.4%, the impact of this demographic shift, aptly dubbed “The Silver Tsunami,” is undeniable. This wave of aging Americans is set to drive demand for assisted living across the United States, with Sun Belt markets experiencing the most growth. In the aftermath of the COVID-19 pandemic, construction of new senior housing facilities declined significantly, causing demand to far exceed supply. These factors, together with the turnkey delivery of this asset, combine to create a compelling offering for an opportunistic owner, operator or investor.
Hilco Real Estate, LLC in cooperation with Broker Paul A. Lynn & Assoc., LLC TREC #9000489, Paul A. Lynn, TX Broker, Lic. #0244902.