MyEyeDr- Newport News, VA

In Demand Asset Class- Optometry is a prime candidate for a blend between medical and retail, also known as ‘medtail.’ This synergy takes the best of both worlds and creates a unique demand for properties which could ultimately be used for retail or medical tenants.
Fresh Lease Renewal- MyEyeDr recently signed a fresh 5 year term, showing their commitment to this location and signs of a successful operation.
National Operator- With over 900 locations across the country, MyEyeDr is one of the largest optometry providers in the country with an estimated annual revenue of $1 Billion.
Below Market Rent- At less than $12/SF, this location provides security to an investor, knowing the rental rate could easily be replaced or may even create a scenario for a substantial increase in the future.
Visible and Accessible- This asset is easily seen from the road and immediately accessible, providing high visibility and convenience for patients to visit the site.
Retail Centric- Numerous national tenants such as Wendy’s, Bank of America, Autozone, and McDonald’s surround this asset, among various strip centers in the dense retail area, providing a high amount of traffic and familiarity to this location.
Top City- Newport News is a top city of Virginia, providing significance to the state and region with it’s coastal location, benefiting from the Marine Terminal. Virginia is also home to the MyEyeDr headquarters.
Affluent Market- The ±5-mile radius surrounding this asset has an average household income of over $86,121, creating an increased demand for the area..
Strong Backing- MyEyeDr is owned by Capital Vision Services and was acquired in 2019 for $2.7B by Goldman Sachs. Revenues have steadily increased for the brand since the acquisition, showing the expertise and profitability provided by this new ownership.
Growing Market- The optometry market is experiencing significant growth due to increases in technology coupled with an aging population. With a current estimated market size of $5.84B, the optometry market has a projected CAGR of 11.3% through 2033.

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Kyle Matthews