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My Eyelab, Statesboro, GA

My Eyelab

GA, USA

Price $1,598,000
Cap Rate
NOI
Lease Term 10 Years
Lease Type Absolute NNN, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot.
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2021
Building Size 2,920 SF
Lot Size 0.52 Acres (22,555 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

10-YEAR ABSOLUTE NNN GUARANTEED LEASE WITH RENTAL INCREASES EVERY FIVE YEARS
» My Eyelab has over 175 locations nationwide – the guarantor, Vision Precisions Holdings, is the parent company of My Eyelab and Stanton Optical, which are the fastest growing retail optical centers in the country
» 10-year absolute NNN lease to My Eyelab, a leader in offering accessible alternatives to overpriced eye care services
» Absolute NNN lease requires no landlord management, ideal for an out-of-area investor
» 10% rental increases every five (5) years, providing a hedge against inflation

CENTRAL LOCATION NEAR MULTIPLE AREA ATTRACTIONS, RETAILERS, AND COMMUNITY HUBS
» Outparcel to a Walmart Supercenter-Anchored shopping plaza, greatly increasing visibility and traffic to the location
» Neighbored by Statesboro Mall and surrounded by a strong mix of local and national retailers, including Lowe’s Home Improvement, ALDI, Belk, Starbucks, Hobby Lobby, Petco, Tractor Supply Company, Cracker Barrel, McDonald’s, and many more
» Three miles from Georgia Southern University, the fifth-largest institution in the University System of Georgia and the largest center of higher education within the southern half of Georgia (27,000 students, 4,038 employees)
» Close proximity to several schools, including Statesboro High School (1,662 students) and Mill Creek Elementary School (715 students)
» Three miles from Splash in the Boro Waterpark, a 155-acre water park and family aquatics center (120,000 annual visitors)

EASILY ACCESSIBLE AND HIGH-TRAFFIC LOCATION IN POPULOUS GEORGIA SUBMARKET
» 48,377 residents within a five-mile radius of the property, providing a large customer base for the location
» High-visibility location on U.S. Route 80/Northside Drive East (25,400 AADT)
» Near Veterans Memorial Parkway, a high-traffic, north-south Statesboro thoroughfare (23,100 AADT)
» Projected nine percent average annual household income increase within a five-mile radius of the property in the next five years, poising My Eyelab and Statesboro for significant concurrent growth


Property Description

SOLD

The property has an easily accessible location on U.S. Route 80/Northside Drive East, with visibility and access to 25,400 vehicles per day. The site maintains a central location at the confluence of highly trafficked Statesboro thoroughfares, including Veterans Memorial Parkway (23,100 AADT). The site benefits from its location in a populous area, with 48,377 residents living within a five-mile radius of the property. With a projected nine percent average annual household income increase within a five-mile radius of the property in the next five years, My Eyelab and Statesboro are poised for significant concurrent growth.

The site is a strategically placed outparcel to a Walmart Supercenter-Anchored shopping plaza, greatly increasing visibility and traffic to the property. The location is neighbored by Statesboro Mall and surrounded by a strong mix of local and national retailers, including Lowe’s Home Improvement, ALDI, Belk, Starbucks, Hobby Lobby, Petco, Tractor Supply Company, Cracker Barrel, McDonald’s, and many more. The property is also three miles from Georgia Southern University, the fifth-largest institution in the University System of Georgia and the largest center of higher education within the southern half of Georgia (27,000 students, 4,038 employees). A number of schools are located near the property as well, including Statesboro High School (1,662 students) and Mill Creek Elementary School (715 students). The site also benefits from its proximity three miles from Splash in the Boro Waterpark, a 155-acre water park and family aquatics center (120,000 annual visitors).

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