Overview
Matthews™ Healthcare Division is pleased to offer qualified investors a high quality opportunity to acquire a single-tenant medical asset in Oklahoma City, OK. Retinal Associates of Oklahoma is partnered with Eyecare Partners, one the country’s largest eyecare medical support organizations in the country with over 700 locations across the country. The tenant acquired this practice in 2022, at which point they signed a new 5 year NNN lease, providing a significant testament to their success and commitment to the location in the future. This site is ideally located in a multi-tenant medical office complex surrounded by other medical specialties, and positioned in a high traffic retail corridor, constantly driving traffic to the site. The lease also features an ideal structure with a significant 10% rental increase coming in the tenant’s option period.
Investment Highlights
- Eyecare Partners (700+ Locations) | Corporate Lease | Successful Operating History – Eyecare partners is one of the largest ophthalmologic and optometric organizations in the US. With more than 700+ locations in across 18 states (30 markets), Eyecare Partners has a rich history of developing and growing affiliated practices by providing tools and technology that allow their doctors to focus entirely on patient care.
- The partnership is a testament to the success of this location and the tenant’s commitment to the site going forward. Eyecare Partners’ mission is to reinvest eyecare with their doctor-led and partnership focused approach to care. They work to maintain the character of each individual practice while also providing top notch resources to improve the patient experience and support practice growth.
- NNN Lease Structure | Minimal Landlord Responsibilities – The NNN lease structure offers a passive investment opportunity for both local and national investors. The tenant, Eyecare Partners, executed a fresh 5-year NNN lease when acquiring the practice in 2022. This establishes the tenant’s continued success and commitment to the location going forward.
- 5-Year NNN Lease | 9.00% Current Cap – The tenant, Eyecare Partners, executed a fresh 5-year NNN lease when acquiring the practice in 2022. This establishes the tenant’s continued success and commitment to the location going forward. Including the tenant’s option periods, an investor can acquire the asset at a highly desirable yield, averaging 10.07% over the life of the lease term.
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