Listed by Partners - Austin, Partners
$1,925,000
610 N Town East Blvd
Details
Property Type Office
Sub Type Medical Office
Square Footage 6,101
Cap Rate 7.07%
NOI $136,025
Occupancy 100%
Tenancy Multi
Lease Type NNN
Rent Bumps Yes
Price per SqFt $316
Class B
Year Built 2004
Buildings 1
Stories 1
Acreage 2.870
Investment Type Stabilized
Office | 7.07% CAP | 6,101 SqFt
Marketing description
Partners is pleased to offer for sale 610 N Town East Blvd — a 100%-leased, two-tenant net-leased asset anchored by MyEyeDr., a national optometry platform of approximately 900 locations.
MyEyeDr. has just exercised its renewal option, locking in another five years of term. The second suite is occupied by an independent wealth-management firm that has been in the building since 2006 — a deeply rooted local credit with two decades of payment history at this address.
Investment highlights
- 900+ Location National Anchor - MyEyeDr occupies 71% of the building on a long-term NNN lease through April 2031 with one 5-year renewal option remaining. With over 900 locations across 30 states, the tenant brings national brand stability and consistent patient-driven foot traffic to the asset.
- Stabilized Day-One Cash Flow - Both tenants are on true NNN leases, delivering $136,025 in annual NOI with zero landlord expense exposure. MyEyeDr just exercised a 5-year renewal, confirming long-term commitment and eliminating near-term rollover risk.
- 3% Annual Escalations - Both leases carry 3% annual escalations, compounding NOI growth throughout the hold period. This built-in rent growth protects against inflation and steadily improves returns without any landlord action required.
- Two Decades of Co-Tenancy Stability - James A. Wade Wealth Management has occupied the building since 2006 — nearly 20 years of demonstrated locational commitment. Multi-tenant assets with this length of co-tenancy carry significantly lower re-leasing risk than typical retail investments.
- Established Location - Situated along North Town East Boulevard in one of the DFW Metroplex's most established suburban retail corridors, the property benefits from strong daytime population, consistent consumer traffic, and a dense surrounding residential base that supports both tenants' business models.
Listing Contacts
Listed by Partners - Austin, Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$136,025.00
$11,335.42/mo
Valuation Metrics
0
DSCR
7.07%
Cap Rate
7.07%
ROI
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