422 Oriana Rd Newport News, VA 23608

The property is suitable for retail or medical tenants. MyEyeDr recently signed a new 5-year lease, demonstrating their commitment to the location. MyEyeDr, a national operator with over 900 locations nationwide and an estimated annual revenue of $1 billion, occupies the space. The rental rate is below market value at less than $12 per square foot. The property is highly visible and easily accessible from the road. It is surrounded by national tenants such as Wendy’s, Bank of America, Autozone, and McDonald’s, as well as various strip centers, contributing to high traffic and familiarity in the area. The property is located in Newport News, a top city in Virginia with a coastal location that benefits from the Marine Terminal. The surrounding area within a 5-mile radius has an average household income of over $86,121. MyEyeDr is owned by Capital Vision Services and was acquired in 2019 by Goldman Sachs. The optometry market is experiencing growth due to technological advancements and an aging population, with a projected CAGR of 11.3% through 2033 and a current estimated market size of $5.84 billion. The property size is 4,200 square feet.