Office Medical
Vision Care Associates
3155 Canfield Rd, Youngstown, OH 44511
Listing Price: $569,733
Investment Overview
Marcus & Millichap is pleased to present the exclusive opportunity to acquire Vision Care Associates, an outpatient medical investment property located at 3155 Canfield Road in Youngstown, Ohio. The property is occupied by Vision Care Associates, an established optometry practice operating under the AEG Vision platform, one of the nation's largest optometric organizations with more than 500 affiliated locations nationwide.
The investment offers stable cash flow supported by a recently executed lease renewal extending through August 2029, coupled with 2% annual rent escalations that provide built-in income growth. In addition to the primary optometry tenant, the property benefits from a second tenant occupying the lower level, creating a diversified income stream and enhancing overall cash flow stability.
Strategically positioned along Canfield Road, one of Youngstown's primary commercial corridors, the property is surrounded by a strong mix of healthcare providers, national retailers, and daily-needs businesses. The location benefits from convenient access to Interstate 680 and serves a densely populated trade area, supporting the long-term viability of the tenancy.
Offered at a 9.00% cap rate, the asset presents investors with an opportunity to acquire a healthcare-oriented investment backed by a nationally recognized optometry platform while benefiting from contractual rent growth and diversified tenant income.
Vision Care Associates
Investment Highlights
- AEG Vision Affiliation | Property is occupied by Vision Care Associates, operating under the AEG Vision platform, one of the largest optometry groups in the United States with more than 500 locations.
- Recently Executed Lease Renewal | The primary tenant recently renewed its lease, extending the term through August 2029 and providing continued income stability for investors.
- Built-In Rental Growth | The Vision Care Associates lease features 2% annual rent increases, providing consistent NOI growth throughout the remaining lease term.
- Dual Income Streams | Income is generated from both Vision Care Associates and an additional lower-level tenant, creating diversified cash flow.
- Attractive In-Place Yield | Offered at a 10.46% cap rate with an in-place NOI of $59,589, delivering strong day-one cash flow.
- Established Healthcare Tenant | Vision Care Associates has an established operating history in the Youngstown market and provides essential eye care services to the surrounding community.
- Strategic Retail and Healthcare Corridor | Positioned along Canfield Road among a concentration of healthcare providers, national retailers, and daily-needs businesses that support long-term tenant viability.
- Accessible Regional Location | Convenient access to Interstate 680 and major transportation corridors throughout the Youngstown metropolitan area.
Exclusively Listed By
Broker of Record
-
Michael L. Glass
Executive Managing Director, Chief Revenue Officer- Mid-West Division
Financing By
Listing Price: $569,733
Investment Highlights
- AEG Vision Affiliation | Property is occupied by Vision Care Associates, operating under the AEG Vision platform, one of the largest optometry groups in the United States with more than 500 locations.
- Recently Executed Lease Renewal | The primary tenant recently renewed its lease, extending the term through August 2029 and providing continued income stability for investors.
- Built-In Rental Growth | The Vision Care Associates lease features 2% annual rent increases, providing consistent NOI growth throughout the remaining lease term.
- Dual Income Streams | Income is generated from both Vision Care Associates and an additional lower-level tenant, creating diversified cash flow.
- Attractive In-Place Yield | Offered at a 10.46% cap rate with an in-place NOI of $59,589, delivering strong day-one cash flow.
- Established Healthcare Tenant | Vision Care Associates has an established operating history in the Youngstown market and provides essential eye care services to the surrounding community.
- Strategic Retail and Healthcare Corridor | Positioned along Canfield Road among a concentration of healthcare providers, national retailers, and daily-needs businesses that support long-term tenant viability.
- Accessible Regional Location | Convenient access to Interstate 680 and major transportation corridors throughout the Youngstown metropolitan area.
Investment Overview
Marcus & Millichap is pleased to present the exclusive opportunity to acquire Vision Care Associates, an outpatient medical investment property located at 3155 Canfield Road in Youngstown, Ohio. The property is occupied by Vision Care Associates, an established optometry practice operating under the AEG Vision platform, one of the nation's largest optometric organizations with more than 500 affiliated locations nationwide. The investment offers stable cash flow supported by a recently executed lease renewal extending through August 2029, coupled with 2% annual rent escalations that provide built-in income growth. In addition to the primary optometry tenant, the property benefits from a second tenant occupying the lower level, creating a diversified income stream and enhancing overall cash flow stability. Strategically positioned along Canfield Road, one of Youngstown's primary commercial corridors, the property is surrounded by a strong mix of healthcare providers, national retailers, and daily-needs businesses. The location benefits from convenient access to Interstate 680 and serves a densely populated trade area, supporting the long-term viability of the tenancy. Offered at a 9.00% cap rate, the asset presents investors with an opportunity to acquire a healthcare-oriented investment backed by a nationally recognized optometry platform while benefiting from contractual rent growth and diversified tenant income.
Exclusively Listed By
Broker of Record
-
Michael L. Glass
Executive Managing Director, Chief Revenue Officer- Mid-West Division
Financing By
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