Investment Overview

The Byrd & Wyandotte Eye Clinic at 100 Oak Street in downtown Wyandotte, Michigan, offers a strong investment opportunity in the healthcare real estate sector. Priced at $2.725 million with a 7.69% cap rate, the property produces a net operating income of $209,605. It spans 10,547 square feet on a 0.52-acre lot and was built in 1953, with renovations completed in 1984. The building is fully leased to EyeCare Partners under a long-term triple-net agreement. The tenant recently exercised its first five-year renewal option, signaling its commitment to the location. The lease began in December 2020 and runs through November 2030, with two additional five-year options and 2% annual rent increases backed by a corporate guarantee. Current rent is $209,605, with scheduled escalations that strengthen returns. Landlord obligations are limited to roof and structural repairs, major HVAC replacements over $5,000 annually, and parking lot replacement. EyeCare Partners operates more than 700 locations nationwide and employs over 1,000 providers. Services include cataract surgery, glaucoma treatment, diabetic eye exams, LASIK and optical care. The clinic sits less than a mile from Henry Ford Wyandotte Hospital, adding convenience for patients and reinforcing its strategic location. Wyandotte offers strong demographics and economic fundamentals. Within five miles, the population exceeds 163,000, with an average household income above $81,000. The city benefits from redevelopment incentives such as OPRA and Brownfield credits, a stable housing market and convenient access to major highways and Detroit Metro Airport. Its downtown location adds visibility and accessibility. This property combines long-term income, minimal management and exposure to a growing healthcare market. With strong tenant credit, annual rent escalations and a prime position in downtown Wyandotte, the Byrd & Wyandotte Eye Clinic stands out as a secure, high-quality investment.