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Single-Tenant Office Medical

Dearborn Ophthalmology

1922 Monroe St, Dearborn, MI 48124

Listing Price: $1,407,770

Cap Rate
6.00%
Tenant Name
ECP Ophthalmology Services, LLC
Years Remaining On Lease
6.1
Gross SF
5,096
Guarantor
Corporate Guarantee
Rentable SF
5,096
Price/Gross SF
$276.25
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$16.57

Investment Overview

Marcus & Millichap is pleased to present Dearborn Ophthalmology, a 5,096 square-foot single-tenant medical office located at 1922 Monroe Street in Dearborn, Michigan. Dearborn Ophthalmology has operated at this location for over 60 years and was acquired by Eye Care Partners in early 2021 at which time they executed a new seven-year lease. This is a triple-net lease with two percent annual rent increases and three, five-year options to renew. Dearborn Ophthalmology is strategically located with excellent visibility on Monroe Street adjacent to The Henry Ford Museum, Greenfield Village and the Ford Motor Company Research, Engineering, and Product Development Centers. The property also benefits from being within close proximity to Downtown Dearborn and Beaumont Dearborn Hospital, a 623-bed Level II Trauma Center. The immediate trade area is home to Fairlane Town Center Mall and Fairlane Green anchored by Target, Old Navy, TJ Maxx, and numerous other national retailers. Dearborn Ophthalmology is also positioned two miles University of Michigan Dearborn and Henry Ford College campuses. Dearborn, Michigan is situated nine miles from Downtown Detroit. The city has a population of over 109,900 and is the home to the Ford Motor Company World Headquarters. Ford is the top employer of the immediate area, accompanied by Beaumont Health. There are 325,040 full-time residents and an average household income of $63,051 within five miles of the asset. This single-tenant medical office property provides an investor with a stabilized asset with limited landlord responsibilities.

Investment Highlights

  • 6 Years Remaining | Triple-Net Lease
  • 2% Annual Rent Increases | (3) 5-Year Options
  • Corporate Guarantee by ECP Ophthalmology Services, LLC
  • Operating at this Location for Over 60 Years
  • Excellent Visibility on Monroe Street
  • Adjacent to The Henry Ford Museum, Greenfield Village and Ford Motor Company
  • Close Proximity to Beaumont Hospital – Dearborn (623-Bed, Level II Trauma Center)
  • Average Household Income Exceeding $63,000 Within a Five-Mile Radius

Exclusively Listed By

Single-Tenant Office Medical

Dearborn Ophthalmology

Listing Price: $1,407,770

Cap Rate
6.00%
Tenant Name
ECP Ophthalmology Services, LLC
Years Remaining On Lease
6.1
Gross SF
5,096
Guarantor
Corporate Guarantee
Rentable SF
5,096
Price/Gross SF
$276.25
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$16.57

Investment Highlights

  • 6 Years Remaining | Triple-Net Lease
  • 2% Annual Rent Increases | (3) 5-Year Options
  • Corporate Guarantee by ECP Ophthalmology Services, LLC
  • Operating at this Location for Over 60 Years
  • Excellent Visibility on Monroe Street
  • Adjacent to The Henry Ford Museum, Greenfield Village and Ford Motor Company
  • Close Proximity to Beaumont Hospital – Dearborn (623-Bed, Level II Trauma Center)
  • Average Household Income Exceeding $63,000 Within a Five-Mile Radius

Investment Overview

Marcus & Millichap is pleased to present Dearborn Ophthalmology, a 5,096 square-foot single-tenant medical office located at 1922 Monroe Street in Dearborn, Michigan. Dearborn Ophthalmology has operated at this location for over 60 years and was acquired by Eye Care Partners in early 2021 at which time they executed a new seven-year lease. This is a triple-net lease with two percent annual rent increases and three, five-year options to renew. Dearborn Ophthalmology is strategically located with excellent visibility on Monroe Street adjacent to The Henry Ford Museum, Greenfield Village and the Ford Motor Company Research, Engineering, and Product Development Centers. The property also benefits from being within close proximity to Downtown Dearborn and Beaumont Dearborn Hospital, a 623-bed Level II Trauma Center. The immediate trade area is home to Fairlane Town Center Mall and Fairlane Green anchored by Target, Old Navy, TJ Maxx, and numerous other national retailers. Dearborn Ophthalmology is also positioned two miles University of Michigan Dearborn and Henry Ford College campuses. Dearborn, Michigan is situated nine miles from Downtown Detroit. The city has a population of over 109,900 and is the home to the Ford Motor Company World Headquarters. Ford is the top employer of the immediate area, accompanied by Beaumont Health. There are 325,040 full-time residents and an average household income of $63,051 within five miles of the asset. This single-tenant medical office property provides an investor with a stabilized asset with limited landlord responsibilities.

Exclusively Listed By

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