Listed by ParaSell Inc, Sands Investment Group, Sands Investment Group Los Angeles
$910,345
Clarkson Eyecare - Medina, OH
Details
Property Type Office
Sub Type Medical Office
Square Footage 3,450
Cap Rate 7.25%
NOI $66,000
Occupancy 100%
Tenancy Single
Brand/Tenant Clarkson Eyecare
Lease Type NN
Lease Term 10
Lease Expiration 05/20/2031
Remaining Term 4.8
Rent Bumps Yes
Lease Options 3 x 5 Year Options
Price per SqFt $264
Year Built 1970
Buildings 1
Acreage 0.550
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 05/21/2021
Medical Office Asset | Recent Lease Extension | Near 148-Bed Hospital | Medina, OH
Marketing description
We are pleased to exclusively offer for sale the 3,450 SF Clarkson Eyecare located at 409 N Court Street in Medina, OH. This offering is highlighted by a recent lease extension that demonstrates the tenant’s continued commitment to this premier medical office location, further reinforcing the strength of the site and its long-standing operating history. With an established tenant presence and a proven track record of operations, the property presents a stable and attractive investment opportunity for investors seeking reliable income from a well-positioned healthcare asset.
Investment highlights
- The location has operated as an optometry practice serving the Medina community since 1990, originally as Medina Vision Centre. In 2020, the practice partnered with Midwest Vision Partners, which later became part of the Clarkson Eyecare network, allowing the practice to expand within a larger medical eye-care platform. Today, the property continues to operate as an optometry clinic under Clarkson Eyecare, maintaining over three decades of continuous eye-care services at this location.
- Clarkson Eyecare, founded in 1979, is a leading provider of medical optometry services with 230+ locations across the United States. The company is part of EyeCare Partners, one of the largest vertically integrated eye-care platforms in the country with 700+ locations. EyeCare Partners is backed by Partners Group, a Switzerland-based global private markets investment manager that holds a majority stake in the platform.
- A recent lease extension demonstrates the tenant’s continued commitment to this premier medical office location, further reinforcing the strength of the site and its long-standing operating history.
- The property is located approximately 1.4-miles from Cleveland Clinic Medina Hospital, a 148-bed acute care facility and part of the nationally recognized Cleveland Clinic health system. The hospital provides a full range of services including cardiovascular care, cancer treatment, advanced imaging, surgical services, and specialty medical care, serving as a primary healthcare provider for Medina and the surrounding communities.
- The property is located along North Court Street, Medina’s primary retail corridor, surrounded by a strong concentration of national retailers and grocery anchors that drive consistent daily traffic. Nearby shopping centers feature Giant Eagle, Buehler’s Fresh Foods, ALDI, Target, Walmart, Home Depot, and Kohl’s, establishing the area as the dominant retail hub for Medina County. Additional national tenants including Starbucks, Chipotle, Jersey Mike’s, Aspen Dental, and Pet Supplies Plus further strengthen the corridor and attract shoppers from the surrounding Cleveland-Akron metro area.
Listing Contacts
Listed by ParaSell Inc, Sands Investment Group, Sands Investment Group Los Angeles
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$66,000.00
$5,500.00/mo
Valuation Metrics
0
DSCR
7.25%
Cap Rate
7.25%
ROI
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