208 Morrow Street S

IMPROVED 8.95% CAP RATE: Priced below replacement value, this is an excellent opportunity to acquire a healthcare real estate investment property fully occupied by MyEyeDr. Backed by Goldman Sacs and with over 900 locations, MyEyeDr. has grown to become one of the largest operators of eye care services nationwide. 

This location has served as an optometry provider for a decade, and there are few competing providers in the area. MyEyeDr. recently renewed its lease, which includes an option to renew and rental increase upon renewal. Landlord responsibility is limited to property insurance, structural and exterior repairs. The property underwent a major renovation and expansion in 2016 and is in excellent condition. 

Mena is a regional trade and service center for the surrounding cities and counties and is experiencing significant economic momentum. That momentum includes a $19M investment by Nidec Motor Corporation to expand its Mena facility and the Trails at Mena Project, a multi-million-dollar project designed to be one of largest lift-served mountain bike parks in the world, projected to attract 250,000 visitors annually. The city is investing in its downtown and historic buildings, is friendly to business-with a 0% city-assessed property tax currently-and has been recognized as a 4-star municipality.