Overview
Matthews™ Healthcare Division is pleased to present to qualified investors a single-tenant, net-leased ophthalmology condominium located in Central Florida. The property is strategically positioned near The Villages—the largest agerestricted retirement community in the world—with more than 140,000 residents, 85% of whom are insured, high-income seniors aged 65 and older, creating an unrivaled concentration of high-utilization healthcare demand.
Located at 801 CR 466, Suite B-102, Lady Lake, Florida, the 4,255-square-foot outpatient condominium is operated by US Eye, a premier ophthalmology provider specializing in comprehensive eye care, surgical ophthalmology, and related clinical specialties. Founded in 1986, US Eye operates a multi-specialty, vertically integrated care delivery platform across highgrowth Sun Belt markets. Backed by Pamlico Capital, US Eye operates more than 60 practice locations and five ambulatory surgery centers across four Southeastern states (Florida, South Carolina, North Carolina, and Virginia). Its platform includes more than 100 board-certified physicians and advanced practice providers, supported by over 1,000 employees.
The tenant recently executed a fresh 7-extension lease at the facility expiring in August 2033. The property is leased on a NNN lease basis with annual escalators equal to the lesser of CPI or 3% - ensuring minimal landlord obligations for prospective investors while also providing a valuable hedge against inflation.
This property is one of three US Eye properties that ownership is currently selling. All three properties are being offered individually or as a portfolio. For further information on the other two US Eye properties currently for sale, please see the below Portfolio Summary section.
Investment Highlights
Strategic Central Florida Location: The property is strategically located in Central Florida, serving one of the nation’s strongest demographic corridors for outpatient healthcare. Located in Lake County, the property benefits from an affluent and growing population, an expanding retiree base, and increasing demand for specialized outpatient medical services. Additionally, its relative close proximity to The Villages—the world’s premier and largest retirement community with over 140,000 residents—further positions the facility to capture a massive, active senior demographic with high demand for ongoing medical care. Its central location provides convenient access to surrounding communities throughout Lake County and the greater Central Florida region.
Institutional-Quality Healthcare Tenant: The property is leased to US Eye, a leading, vertically integrated ophthalmology platform specializing in comprehensive eye care, surgical ophthalmology, and related clinical specialties. Backed by Pamlico Capital, US Eye operates more than 60 practice locations and five ambulatory surgery centers across Florida, South Carolina, North Carolina, and Virginia. Its platform is supported by more than 100 boardcertified physicians/providers and over 1,000 employees, making US Eye one of the Southeast’s premier ophthalmology providers.
NNN Lease Structure: The property is leased on a NNN basis, minimizing landlord responsibilities.
Annual Rent Growth: The lease features annual escalators equal to the lesser of 3% or CPI. These contractual increases provide consistent NOI growth while offering a meaningful hedge against inflation over the lease term.
Long-Term, Predictable Cash Flow: US Eye recently executed a new seven-year lease, providing seven years of remaining contractual income through August 2033. Combined with a NNN lease structure and annual rent escalations, the property offers durable, predictable cash flow with minimal ownership responsibilities.
Favorable Depreciation Benefits: The property’s significant building improvements may allow investors to benefit from accelerated depreciation and other potential tax advantages through a cost segregation study. Investors should consult their tax advisor regarding the applicability of these benefits.
Defensive Healthcare Real Estate: Outpatient medical real estate has consistently demonstrated resilience across economic cycles due to the essential nature of healthcare services. Demand for ophthalmology and agerelated vision care is supported by favorable long-term demographic trends, positioning the property for sustained occupancy and long-term cash flow stability.
Florida Tax Advantages: Florida is one of only nine states with no personal state income tax, making it one of the country’s most attractive destinations for residents, businesses, and investment capital. Continued population growth and in-migration have reinforced the state’s economic fundamentals and long-term real estate outlook.
