830 E Princeton Dr - 111,560± SF Vacant Healthcare Facility

Hilco Real Estate announces the auction of a healthcare facility and medical office building. The bid deadline is December 12 by 5:00 p.m. (CT). On-site inspections are scheduled for November 12, 20 & December 4 - by appointment only.

Villa Asuncion, an assisted living and memory care facility, spans 6.78± acres and offers 164 units in a 111,559± square-foot complex. Originally built in 1997 and expanded around 2010, the site includes semi-private and private rooms, a secured memory care unit and a detached turnkey 3,000± square-foot medical office. Amenities include a chapel, library, courtyard, beauty salon, dining hall, and recreational rooms, with pet accommodations and on-site nursing staff for medical support. Previously licensed under the state of Texas for Type A and Type B assisted living, Villa Asuncion is ideal for future healthcare owners/operators or redevelopment.

Hilco Real Estate, LLC in cooperation with Broker Paul A. Lynn & Assoc., LLC TREC #9000489, Paul A. Lynn, TX Broker, Lic. #0244902

Princeton, located in Collin County, is within the Dallas-Fort Worth metroplex. This growing community offers a blend of suburban and semi-rural living. Just 45 miles northeast of Dallas and 8 miles east of McKinney, the city’s growth is driven by new housing developments and its proximity to urban centers. Comprehensive healthcare is easily accessible through nearby Baylor Scott & White Medical Center and Medical City McKinney, both within 15 to 20 minutes of the property, offering emergency, surgical, and specialty care. Texas Health Presbyterian Hospital in Allen is also an estimated 25 minutes northeast of the facility, providing additional general and specialized services. Princeton retains a small-town feel, attracting families and those seeking a quieter lifestyle with easy access to the amenities of McKinney, Plano, and Dallas.

The senior housing sector is set to expand substantially in the coming decade, driven by the aging baby boomer generation. Americans aged 75 and above have seen a 31.4% increase between 2010 and 2023, and this trend is expected to continue. This demographic shift, often referred to as The Silver Tsunami, will lead to a sharp rise in demand for senior living facilities, with Texas experiencing a significant share of this growth. Compounded by a post-COVID decline in new facility construction and migration to Sun Belt states, demand for senior care will far exceed the current supply of housing for this population.