7470 Secor Rd - Medical FOR SALE


Lambertville, MI 48144
$675,000 USD
734-777-0490
7470 Secor Rd, Lambertville, MI for Sale
$675,000 USD
Medical - FOR SALE
1/7
null | 8.89% Cap Rate

7470 Secor Rd
Lambertville, MI 48144


HIGHLIGHTS

  • Heavy Daytime Traffic
  • Credit Tenant
  • Portfolio Sale

OVERVIEW

Property Overview This Net investment property offers a hassle-free opportunity for investors, as the tenant, MyEyeDr, covers rent, CAM, and real estate taxes. Located at 7470 Secor Rd, Lambertville, MI, the property was built in 2006 and spans approximately 2,500 square feet, making it suitable for retail use. The monthly rent of $5,000 ensures a steady income stream. Tenant and Financial Stability MyEyeDr, the tenant, is a well-established national optometry chain with over 800 offices across 28 states, indicating a robust credit profile. Their financial stability is supported by private equity backing from multiple firms, including Monitor Clipper Partners, which invested in 2012, followed by Altas Partners and Caisse de dépôt et placement du Québec (CDPQ) in 2015, and later a $2.7 billion deal with a division of Goldman Sachs in 2019, as reported in New York Business Journal. Their recognition in Newsweek’s "America's Best Customer Service 2024" Awards adds to their credibility. Location Benefits Situated in Lambertville, a thriving suburb with a population of about 10,000 and a median household income of $100,000, the property benefits from a stable and affluent demographic. The area, with a significant portion of middle-aged and older adults, is ideal for optometry services due to their increased need for eye care. Secor Rd, a major road, ensures high visibility and traffic, surrounded by complementary businesses, enhancing its retail appeal. Kroger is across the street. Available as a package with 229 Tecumseh St, Dundee MI also leased by MyEyeDr. Information deemed reliable but not guaranteed. Buyer to verify and perform their own due diligence.

FOR SALE DETAILS

PRICE

$675,000 USD

PRICE/SF

$272 USD /SF

CAP RATE

8.89%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2006

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.53 AC

LAND SF

23,087 SF

ZONING

COM

APN/PARCEL ID

02-615-020-00

ASK ABOUT THIS PROPERTY

Aaron WiensWiens & Roth Real EstateMore Info
734-777-0490

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Aaron WiensWiens & Roth Real EstateMore Info
734-777-0490

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.