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AEG Vision 3155 Canfield Rd 4,100 SF 100% Leased Office Building Youngstown, OH 44511 $791,923 CAD ($193.15 CAD/SF) 10.46% Cap Rate
Executive Summary
Marcus & Millichap is pleased to present the exclusive opportunity to acquire Vision Care Associates, an outpatient medical investment property located at 3155 Canfield Road in Youngstown, Ohio. The property is occupied by Vision Care Associates, an established optometry practice operating under the AEG Vision platform, one of the nation's largest optometric organizations with more than 500 affiliated locations nationwide.
The investment offers stable cash flow supported by a recently executed lease renewal extending through August 2029, coupled with 2% annual rent escalations that provide built-in income growth. In addition to the primary optometry tenant, the property benefits from a second tenant occupying the lower level, creating a diversified income stream and enhancing overall cash flow stability.
Strategically positioned along Canfield Road, one of Youngstown's primary commercial corridors, the property is surrounded by a strong mix of healthcare providers, national retailers, and daily-needs businesses. The location benefits from convenient access to Interstate 680 and serves a densely populated trade area, supporting the long-term viability of the tenancy.
Offered at a 9.00% cap rate, the asset presents investors with an opportunity to acquire a healthcare-oriented investment backed by a nationally recognized optometry platform while benefiting from contractual rent growth and diversified tenant income.
The investment offers stable cash flow supported by a recently executed lease renewal extending through August 2029, coupled with 2% annual rent escalations that provide built-in income growth. In addition to the primary optometry tenant, the property benefits from a second tenant occupying the lower level, creating a diversified income stream and enhancing overall cash flow stability.
Strategically positioned along Canfield Road, one of Youngstown's primary commercial corridors, the property is surrounded by a strong mix of healthcare providers, national retailers, and daily-needs businesses. The location benefits from convenient access to Interstate 680 and serves a densely populated trade area, supporting the long-term viability of the tenancy.
Offered at a 9.00% cap rate, the asset presents investors with an opportunity to acquire a healthcare-oriented investment backed by a nationally recognized optometry platform while benefiting from contractual rent growth and diversified tenant income.
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Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
4,100 SF
Building Class
B
Year Built
1985
Price
$791,923 CAD
Price Per SF
$193.15 CAD
Cap Rate
10.46%
NOI
$82,828 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
4,100 SF
Building FAR
0.20
Lot Size
0.46 AC
Parking
20 Spaces (4.88 Spaces per 1,000 SF Leased)
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 53-151-0-037.05-0 | Improvements Assessment | $106,571 CAD |
| Land Assessment | $26,716 CAD | Total Assessment | $133,286 CAD |
Property Taxes
Parcel Number
53-151-0-037.05-0
Land Assessment
$26,716 CAD
Improvements Assessment
$106,571 CAD
Total Assessment
$133,286 CAD
Contacts
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Spencer Koch -
Christopher Biuso -
Caitlin Lancaster -
Grant Dougherty
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Marcus & Millichap
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AEG Vision | 3155 Canfield Rd
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