For Sale
$429,678

443 State Ave Beaver, PA 15009

High-yield medical office, strong tenant.

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
139
This fee-simple medical office building presents a compelling investment opportunity. Located at 443 State Ave, Beaver, PA 15009, this Class B property offers 2,415 square feet of space currently leased to MyEyeDr., a national operator with over 800 locations. The building, constructed in 1950, benefits from a net lease structure with a gross lease type and a single tenant occupancy. The current lease has 4.6 years remaining, with a 3% rent bump at the option period. The asking price is $429,678, representing a price per square foot of $177.92 and a current cap rate of 8.50%. The property's APN is 54-006-0713.001. This investment offers a strong return on investment, particularly given the tenant's demonstrated commitment to the location through lease extension and the inherent stability of the medical office sector. The property is not subject to a ground lease. This is a rare opportunity to acquire a high-yielding asset in a stable market. The optometry market is projected to continue strong growth. This property is e-commerce resistant, providing a hedge against economic downturns.

Highlights

  • National tenant: MyEyeDr., a large, expanding optometry chain with 800+ locations.
  • Long-term lease: MyEyeDr. has exercised lease options, indicating strong commitment.
  • Strong market fundamentals: The US optometry market is a $17.8B industry with projected 4% annual growth through 2027.
  • Recession-resistant investment: Optometry is largely immune to e-commerce and economic downturns.
  • High first-year return: Offers an 8.50% ROI in year one.

Property Details for 443 State Ave

Property type
Office properties, Medical offices
Square Feet
2,415 SF
Class
B
Year Renovated
1950

Location Insight

City
Beaver
County
Beaver
State
Pennsylvania
Latitude
40.684198430451
Longitude
-80.329973589902

FAQs

What type of property is this?
Office property - High-yield medical office, strong tenant.
Where is the office property located?
The property is located at 443 State Ave Beaver, PA.
What is the asking price?
The asking price for this property is $429,678.
What are key features of this property?
This property features: National tenant: MyEyeDr., a large, expanding optometry chain with 800+ locations.; Long-term lease: MyEyeDr. has exercised lease options, indicating strong commitment.; Strong market fundamentals: The US optometry market is a $17.8B industry with projected 4% annual growth through 2027.
How can I contact the broker?
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443 State Ave
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