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229 Tecumseh St 2,400 SF Retail Building Dundee, MI 48131 $593,266 CAD ($247.19 CAD/SF) 8.24% Cap Rate
INVESTMENT HIGHLIGHTS
- Credit Tenant
- Package Deal
- Thriving Location
EXECUTIVE SUMMARY
This Net investment property offers a hassle-free opportunity for investors, as the tenant, MyEyeDr, covers $35,000/yr rent, CAM, and real estate taxes. The property is a prime retail space with high visibility, situated in a bustling area that ensures steady customer flow.
Location Benefits
Dundee, MI, is a growing community with a population of approximately 5,400 to 6,000 and a median household income of $73,641. The area’s demographic, with a median age of 37, supports demand for optometry services, and its proximity to major roads like US Route 23 and M-50 enhances accessibility.
Tenant Strength
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.
Available as a package with 7470 Secor Rd, Lambertville, MI also leased by MyEyeDr.
Information deemed reliable but not guaranteed. Buyer to verify and perform their own due diligence.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$48,857
|
$20.36
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$48,857
|
$20.36
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $48,857 |
| Annual Per SF | $20.36 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $48,857 |
| Annual Per SF | $20.36 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Health Care and Social Assistance
- -
- -
- -
MyEyeDr. is a vision care company founded in 2001 in Burke, Virginia. Headquartered in Vienna, Virginia, the company provides eye health services, including comprehensive eye exams, contact lens fittings, and treatment for common eye conditions. MyEyeDr. also offers a wide selection of prescription eyewear and sunglasses. The organization operates through a network of affiliated optometry practices across the United States and has grown significantly through acquisitions and de novo expansions. In 2019, Goldman Sachs acquired its parent company, Capital Vision Services, to support continued growth. MyEyeDr. remains privately held and serves patients in both urban and suburban markets, emphasizing accessibility and integration of eye care with eyewear retail.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Health Care and Social Assistance | - | - | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 42-040-032-00 | Improvements Assessment | $159,158 CAD (2025) |
| Land Assessment | $15,722 CAD (2025) | Total Assessment | $174,880 CAD (2025) |
PROPERTY TAXES
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229 Tecumseh St
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