Listed by Graystone Capital Advisors
$1,700,184
MyEyeDr. (Indiana, PA)
Details
Property Type Office
Sub Type Medical Office
Square Footage 4,150
Cap Rate 6.53%
NOI $111,022
Occupancy 100%
Tenancy Single
Lease Type NN
Lease Expiration 12/14/2029
Remaining Term 4.3
Lease Options 1 – 5 Year Options
Price per SqFt $477
Year Built 2008
Acreage 0.580
Lease Commencement 12/15/2019
Ownership Fee Simple
Office | 6.53% CAP | 4,150 SqFt
Marketing description
Graystone Capital Advisors is pleased to present an exceptional single-tenant net-leased investment opportunity at 945 Indian Springs Road, Indiana, PA. This ±4,150 square-foot, freestanding medical-office building is situated on a 25,265 SF (±0.58 AC) parcel. The property is 100% occupied by MyEyeDr., a leading national optometry provider, on a longterm lease, offering investors a highly passive and secure income stream in a desirable healthcare-driven asset class.
Offered at a list price of $1,700,184, the asset provides an attractive 6.53% current cap rate and a price per square foot of $477.45, supported by a corporate-backed lease. The property is fully leased with approximately 4.3 years of primary term remaining, providing stable in-place income. The lease features a scheduled 10% rental increase every five years, including in the single five-year option period, offering a clear path to organic cash flow growth and a hedge against inflation for a potential investor.
The NN lease structure provides an investment, with the tenant responsible for all operating expenses and maintenance, ensuring a predictable and lightly managed cash flowing asset. The lease is corporately guaranteed by MyEyeDr., a premier operator with over 850 locations nationwide and the financial backing of private equity sponsor Goldman Sachs.
The investment is anchored in the resilient and growing healthcare sector. Optometry is a needs-based, recession-resistant industry, with the U.S. eye care market estimated at $27.3 billion in 2024. This market is projected to expand at a CAGR of 7.1% through 2030, driven by an aging population and increasing demand for vision services. This strong sector-specific tailwind provides a stable foundation for long-term tenant success and asset value appreciation.
With its fee simple ownership, NN lease structure, and a strong corporate tenant in a highgrowth, defensive industry, 2305 30th Avenue represents a premier net-leased investment. The property combines secure in-place cash flow with scheduled rental escalations, offering a reliable income stream with built-in growth. This opportunity is ideally suited for investors seeking a stable, hands-off asset with a strong credit profile in a recession-resistant sector.
Investment highlights
- NN Lease Structure This property operates under a double-net (NN) lease with minimal landlord responsibilities, ensuring a cash flowing investment. The tenant, MyEyeDr., is responsible for the majority of the property’s operating costs.
- Strategic Location The property is strategically located in Indiana, PA, near Indiana University of Pennsylvania, offering proximity to a large and stable population base. This location benefits from strong retail co-tenancy, with surrounding businesses and amenities enhancing the property’s visibility and accessibility.
- Built-In Rent Growth The lease includes 10% rental increases every 5 years, providing an automatic boost to the property’s rental income. This feature enhances long-term cash flow and improves investor returns, making the investment more attractive as rental income grows steadily over time.
- Corporate-Backed Lease The lease is guaranteed by MyEyeDr., one of the nation’s largest optometry operators with over 850 locations across the U.S. The corporate guarantee ensures financial stability, reducing the risk of tenant default and providing confidence in the long-term viability of the lease.
- Private Equity Sponsorship The investment is backed by Goldman Sachs, a globally recognized leader in financial services. Their sponsorship provides strong financial stability and a well-established growth strategy, offering additional confidence to investors seeking reliable, high-quality assets.
- Healthcare-Driven Demand Optometry is a needs-based, recession-resistant industry, making it a stable and attractive asset class. MyEyeDr. operates in a sector driven by essential healthcare services, ensuring continued demand even during economic downturns, and further strengthening the property’s investment profile.
- Tenant: MyEyeDr.
- Options: 1 – 5 Year Options
- Rental Increases: 10% Increase Every 5 Years
- Lot Area (SF) 25,265
Listing Contacts
Listed by Graystone Capital Advisors
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$111,022.04
$9,251.84/mo
Valuation Metrics
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DSCR
6.53%
Cap Rate
6.53%
ROI
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