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Views: 109 DOM: 124 Updated: 11.22.24 Posted: 08.01.24 Status: Active

Summary

Price $1,848,883
Built/Renov 1981
Tenant Rowan Eye Center
Cap Rate 7.25%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,324
Lease Start 12-01-2024
#Units 2
Price/SF $427.59
Expiration 12-31-2039
Tenant Type Medical/Health
NOI $134,044
R. Term 15.1
Ownership Fee Simple
Rent/SF $31.00
Increases 2.5%/1/yrs
Pop 5Mi 83,000
Lot/AC 0.74
Options 4/5yrs/2.5%
AHHI 5Mi $60,100

Lease Highlights

  • Brand new 15-year sale-leaseback with 4 (5-year) options to extend
  • The lease features 2.5% annual rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Rowan Eye Center is strategically located at the intersection of Grand Boulevard and Crafts Street, benefiting from a combined daily traffic count of 7,400 vehicles. The property is surrounded by well-known national tenants including Ace Hardware, Circle K, AutoZone, Dollar General, and more. The 5-mile trade area supports a population of 83,000 residents with an average household income of...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Rowan Eye Center
  • Guarantor:Corporate
  • Company:Rowan Eye Center
  • # Units:2
  • Stock:Private

About Tenant

Rowan Eye Center specializes in ophthalmology, offering a range of eye care services including eye correction, cataract surgery, laser eye surgery, and treatment for conditions like dry eye...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 13,729 79,404 163,603
2024 Total Population : 13,456 77,443 160,428
2024 Employed Civilian Pop : 5,470 32,723 68,373
2024 Total Businesses : 842 2,908 5,862
2024 Average Household Income : $ 71,776 $ 71,105 $ 73,892
2024 Total Consumer Spending : $ 403 M $ 2205 M $ 4595 M
2024 Median Age : 50 48 47
2024 Total Households : 6,202 34,593 69,648
2024 Pop Age 25+: Bachelor's Degree : 1,281 7,984 16,905
2024 Average Home Value : $ 255,414 $ 288,252 $ 309,978
*ESRI data is presented for informational purposes only

Listing Broker

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