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7470 Secor Rd 2,480 SF Office Building Lambertville, MI 48144 $942,246 CAD ($379.94 CAD/SF) 8.89% Cap Rate
INVESTMENT HIGHLIGHTS
- Heavy Daytime Traffic
- Portfolio Sale
- Credit Tenant
EXECUTIVE SUMMARY
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.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$83,755
|
$33.77
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$83,755
|
$33.77
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $83,755 |
| Annual Per SF | $33.77 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $83,755 |
| Annual Per SF | $33.77 |
| 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
- -
- -
- -
Welcome to our online Practice! Our team of eye doctors and eye care staff are here to care for all of your vision needs. We handle everything from adult and children’s eye exams and hard-to-fit contact lenses, to eye emergencies, treatment of eye diseases and co-management of eye surgery such as LASIK. By staying current with the latest developments in eye care, prescription lenses and advances in contact lens technology, our vision center can provide you with the best vision, advice and fit today—and in the years to come. We take pride in building lasting relationships with our patients, which is why we take the time to get to know you, your vision requirements and your lifestyle needs. Contact our eye care clinic today to find out how we can help.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Health Care and Social Assistance | - | - | - |
PROPERTY TAXES
| Parcel Number | 02-615-020-00 | Improvements Assessment | $457,130 CAD (2025) |
| Land Assessment | $0 CAD (2025) | Total Assessment | $457,130 CAD (2025) |
PROPERTY TAXES
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7470 Secor Rd
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