Lawrence County Eye Center
Stable Investment Opportunity
Marketing description
708 & 712 North Jefferson Street is a fully leased, income-producing medical facility offered at $1,800,000 with a Year 1 NOI of $270,194 — representing a 14.81% cap rate on the purchase price. Three established medical tenants occupy the property under existing leases generating $34,300 per month ($411,600 annually) in gross rental income. With a 37.24% cash-on-cash return on a $385,000 down payment and a 2.13x debt coverage ratio, this is a rare stabilized medical asset with exceptional in-place returns and significant appreciation potential.Both buildings have elevators. Paved parking lot for 20 cars. 138 ft of frontage on E Laurel Ave and 120 ft of frontage on North Jefferson St.Major renovations were done in 2009. The building is very well maintained and is in MOVE IN condition for a new owner/investor.
Investment highlights
■ 14.81% Cap Rate — Day One. With $270,194 in NOI against a $1,800,000 asking price, this property delivers an exceptional yield. Medical office assets nationally trade at 6–8% cap rates. This one is nearly double that — in place, today.
■ Fully Leased — Three Established Medical Tenants. Edgewood Surgical, Retina Eye of Cleveland, and Lawrence County Eye Associates (LCEA) are all in place and paying. No lease-up risk, no vacancy — just cash flow from Day 1
■ 2.13x Debt Coverage Ratio. The NOI covers debt service more than twice over — a wide safety cushion and a strong signal to lenders
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