Listed by Sands Investment Group Los Angeles
$1,168,483
MyEyeDr. - Burlington, NC
Details
Property Type Office
Sub Type Medical Office
Square Footage 3,800
Cap Rate 7.25%
NOI $84,715
Occupancy 100%
Tenancy Single
Brand/Tenant MyEyeDr.
Lease Type NN
Lease Term 14.5
Lease Expiration 05/30/2029
Remaining Term 8
Rent Bumps Yes
Lease Options None
Price per SqFt $308
Year Built 1978
Buildings 1
Acreage 0.560
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 12/01/2014
MyEyeDr. | Recent Early 5 Year Extension | 8 Years Remaining | 28K VPD | 7.25% Cap
Marketing description
Sands Investment Group is pleased to exclusively offer for sale the 3,800 SF MyEyeDr. located at 2835 S Church Street in Burlington, NC. This offering features a recent lease extension, demonstrating the tenant’s continued commitment to this established medical office location and reinforcing the strength of the site and its long-standing operating history, making it a stable and attractive investment opportunity.
Investment highlights
- Established Practice With Long Operating History: The MyEyeDr. location in Burlington has operated as an optometry practice for more than 30 years, reflecting a long-standing presence and established patient base within the market. Originally part of Eye Care Associates, a regional group founded in 1978 in Raleigh, NC, the practice became part of MyEyeDr. In 2014, the company acquired 27 Eye Care Associates locations across the region.
- A Recent Early 5-Year Extension Demonstrates: A recent lease extension demonstrates the tenant’s continued commitment to this well-located medical office property, reinforcing both the strength of the location and the practice’s long-term operating history.
- Proximity to Major Regional Healthcare Anchor: The property is located approximately 1.5 miles from Cone Health Alamance Regional Medical Center, a 238-bed acute care hospital serving the greater Burlington and Alamance County trade area. The hospital is supported by more than 200 physicians and over 460 affiliated clinicians, creating a strong referral network and steady patient flow for nearby outpatient medical providers.
- Institutionally Backed Tenant Platform: MyEyeDr.’s parent company, Capital Vision Services, received a significant institutional investment in 2019 when Goldman Sachs’ Merchant Banking Division acquired the company in a transaction valued at approximately $2.7 billion, positioning the platform for continued national expansion and long-term financial stability.
- National Vision Care Platform: MyEyeDr. operates more than 900 locations across the United States, providing comprehensive eye exams, vision correction, and eyewear services through an integrated, insurance-friendly platform.
- Strong Surrounding Retail Drivers and Daily Traffic: The property is located along S Church Street (±28,000 VPD), one of Burlington’s primary commercial corridors, adjacent to a Harris Teeter–anchored shopping center, and is just minutes from Huffman Mill Road, widely recognized as one of the area’s premier national retail corridors. The surrounding trade area features an incredibly dense concentration of national retailers, including Walmart Supercenter, Lowe’s Home Improvement, Publix Super Markets, Chick-fil-A, Starbucks, Chipotle, Five Guys, McDonald’s, Wendy’s, Dunkin’, Olive Garden, LongHorn Steakhouse, and more.
- High-Visibility Location Along Major Commercial Corridor: The property is ideally positioned along South Church Street (US-70), one of Burlington’s primary commercial corridors, offering strong visibility and consistent consumer traffic. The site is located directly across from Holly Hill Mall & Business Center, a regional retail destination with more than 50 retailers and businesses that attract consistent daily visitors.
- Economic Growth & Employment Drivers: Burlington’s strong job growth is driven by its strategic location between Greensboro, Durham, and Raleigh, providing access to major employment centers while maintaining a lower cost of living. Ranked #14 among the nation’s best-performing small cities by the Milken Institute in 2023, the market is fueled by expanding biotechnology, high-tech, and advanced manufacturing sectors. Major employers such as Labcorp and Honda Aero anchor the local economy, alongside growing logistics investment, including an $860 million Food Lion distribution center expected to create over 500 jobs and a new Amazon fulfillment center in the nearby Hawfields industrial park projected to add more than 600 jobs.
- Population Growth & Housing Demand: Burlington is ranked among the top 20 emerging housing markets in the U.S. and is projected to be the fastest-growing community in the Triad region, with population expected to increase by approximately 15.4% over the next two decades.
Listing Contacts
Listed by Sands Investment Group Los Angeles
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$84,715.00
$7,059.58/mo
Valuation Metrics
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DSCR
7.25%
Cap Rate
7.25%
ROI
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