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30090169
30090168

675 Piper Blvd, Naples, FL 34110

RC
CA 01986299
Matthews
MM
CA CA 01982943
Matthews
TS
CA 02238285
Matthews
Listed by Matthews
$4,759,246
100 days on market
Updated 56 days ago

53-Unit Eye Care Operator | NNN | Naples, FL

Details
Property Type Office, Retail
Sub Type Convenience Store, Medical Office (+1)
Square Footage 9,596
Cap Rate 6.5%
NOI $309,351
Occupancy 100%
Tenancy Multi
Brand/Tenant Dollar General, Walgreens (+9)
Lease Type NNN
Remaining Term 7
Rent Bumps Yes
Lease Options Three, 5-Year Options & One, 5-Year Option
Price per SqFt $496
Broker Co-Op Yes
Year Built 2004
Acreage 1.380
Investment Type Net Lease
Ground Lease No

Eye Health America | Desirable Naples Submarket | Recent Capital Improvements

Investment highlights

  • High Caliber Operator – The property is anchored Eye Health America – a leading regional ophthalmology operator with 53 locations across Florida, Georgia, and South Carolina.

  • Long-Term Lease – Approximately 78% of the property’s rentable square footage is leased to Eye Health America which has over eight years of remaining lease term.

  • NNN Leases – The tenant leases are strategically structured as a NNN with the tenants responsible for all CAM, insurance, and taxes. This makes this investment opportunity ideal for both local and out-ofstate investors.

  • Above Market Rental Escalators – This investment features 3% annual escalators which is above the national average and also serves as a great hedge against inflation.

  • Favorable Depreciation – This investment opportunity offers investors the ability to realize material tax savings by realizing bonus
    depreciation through a cost segregation analysis. *Investors to confirm with their CPA.

  • Strong Market – Naples is a highly sought after market within Florida and the property features a five-mile population of 162k and five-mile AHHI of just under $100k.

  • Tax Free State – Florida is one of nine states with no personal income tax, offering potential tax advantages for investors.

  • Amortized Cap Ex Reimbursements – Eye Health America’s lease allows for reimbursement of amortized cap ex costs thus allowing investors to realize a recoupment of capital expenditure outlays.

  • Recent Investment – Edge Wellness has made a substantial $400,000 investment to fully build out their space, underscoring their long-term commitment to the property. In addition, ownership will complete a full parking lot reseal and restripe, ensuring the asset is delivered in pristine, well-maintained condition for the next investor.

Listing Contacts

RC
CA 01986299
Matthews
MM
CA CA 01982943
Matthews
TS
CA 02238285
Matthews
Listed by Matthews

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$309,351.00
$25,779.25/mo

Valuation Metrics

0
DSCR
6.5%
Cap Rate
6.5%
ROI

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Additional Information

Name
Kyle Matthews
License
CQ1066435 (FL)
Brokerage
Matthews Real Estate Investment Services, Inc
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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