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31 Conservatory Dr, Barberton, OH, 44203

Midwest Eye Consultants
$1,251,885

Key Information

Cap Rate
8.25%
$ per SF
$203
Tot. SF
6,264
Year Built
2001
Type
Healthcare
NOI
$103,281

Highlights

  • Regional Multi Location Eyecare Platform: The tenant, Midwest Eye Services LLC, operates a multi location eyecare and optical platform across Indiana and Ohio, providing comprehensive medical eye care and retail optical services. Their model combines recurring exam volume with higher margin eyewear sales, creating diversified
    and resilient revenue supported by aging demographics and increasing vision needs tied to extensive screen use.
  • Located in Medical Corridor Near Summa Health System Barberton Campus: The property is strategically located less than a mile from the Summa Health System Barberton Campus. The 178-bed hospital has a 24-7 emergency room and serves as a hub for medical treatment in the area.
  • High Visibility Corporate Park: Anna Dean Professional Park where the property is located has easy access and visibility from Robinson Ave and 5th St SE, two major thoroughfares with combined traffic counts of over 18,000 vehicles per day.
  • Densely Populated Area: The 5-mile population surrounding the property totals over 105,000 people, and the surrounding area benefits from strong demographics.
  • 7 Miles South of Akron, Ohio: The property is 7 miles from downtown Akron and has easy access to the major metropolitan area. The city of Akron is the 5th largest city in Ohio and has over 700,000 residents in the metro area.
  • Medical Office Investment: Healthcare real estate has emerged as a highly sought after investment due to its unique ability to thrive in challenging economic conditions. Its strong demand, stable tenant base, and resistance to economic downturns make it an attractive option for investors seeking a more reliable investment.
  • Hands Off NNN Lease: The lease is triple net, with the tenant responsible for all operating expenses and taxes, resulting in very limited ongoing obligations for ownership.

Photos

Location

Agents

Broker of Record

Matt Wallace

License # REC.2022007141 (OH)
Matthews Real Estate Investment Services, Inc
950 Main Ave., Suite 510, Cleveland, OH 44113