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675 Piper Blvd, Naples, FL, 33990

Eye Health America
$4,759,246

Key Information

Cap Rate
6.5%
Year Built
2004
Term Remaining
±7 Yrs
Type
Healthcare
NOI
$309,351
Leasable Area
9,596

Highlights

  • High Caliber Operator – The property is anchored Eye Health America – a leading regional ophthalmology operator with 53 locations across Florida, Georgia, and South Carolina.
  • Long-Term Lease – Approximately 78% of the property’s rentable square footage is leased to Eye Health America which has over eight years of remaining lease term.
  • NNN Leases – The tenant leases are strategically structured as a NNN with the tenants responsible for all CAM, insurance, and taxes. This makes this investment opportunity ideal for both local and out-ofstate investors.
  • Above Market Rental Escalators – This investment features 3% annual escalators which is above the national average and also serves as a great hedge against inflation.
  • Favorable Depreciation – This investment opportunity offers investors the ability to realize material tax savings by realizing bonus
    depreciation through a cost segregation analysis. *Investors to confirm with their CPA.
  • Strong Market – Naples is a highly sought after market within Florida and the property features a five-mile population of 162k and five-mile AHHI of just under $100k.
  • Tax Free State – Florida is one of nine states with no personal income tax, offering potential tax advantages for investors.
  • Amortized Cap Ex Reimbursements – Eye Health America’s lease allows for reimbursement of amortized cap ex costs thus allowing investors to realize a recoupment of capital expenditure outlays.
  • Recent Investment – Edge Wellness has made a substantial $400,000 investment to fully build out their space, underscoring their long-term commitment to the property. In addition, ownership will complete a full parking lot reseal and restripe, ensuring the asset is delivered in pristine, well-maintained condition for the next investor.

Photos

Location

Agents

Broker of Record

Kyle Matthews

License # CQ1066435 (FL)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203