Lambertville Retail Investment
For Sale
Contact for pricing
7470 Secor Rd, Lambertville, MI 48144
NNN leased retail property with stable tenant, MyEyeDr.
Property Size2,500 SF
Price / SF$270
Days on Market556
Property Features for 7470 Secor Rd
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Office, Retail
Zoning
PBO
Lease Type
Net
Investment Type
Net Lease
Net Operating Income
$60,000
Building Details
Year Built
2006
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Wiens & Roth Real Estate
Listed By:
Wiens & Roth · License #6504386409
Source:
Crexi
Added: Mar 30, 2025
Changed: Oct 1
Last Checked: Oct 5 at 7:13PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Wiens & Roth Real Estate
Investment Insights
Based on property information with market context.
This net investment property, located at 7470 Secor Rd, Lambertville, MI, presents an opportunity for investors. Constructed in 2006, the property spans approximately 2,500 square feet and is suitable for retail use. The tenant, MyEyeDr, covers rent, CAM, and real estate taxes. The monthly rent is $5,000. MyEyeDr is a national optometry chain with over 800 offices across 28 states. The company has private equity backing from multiple firms, including Monitor Clipper Partners, Altas Partners, and Caisse de dépôt et placement du Québec (CDPQ), and a deal with a division of Goldman Sachs. MyEyeDr was also recognized in Newsweek’s "America's Best Customer Service 2024" Awards. Situated in Lambertville, the property benefits from a stable and affluent demographic. The area is ideal for optometry services due to the needs of middle-aged and older adults. Secor Rd is a major road, ensuring high visibility and traffic, and the property is surrounded by complementary businesses. Kroger is located across the street. The property is available as a package with 229 Tecumseh St, Dundee MI, also leased by MyEyeDr.
Key Highlights
- Net investment property: Tenant (MyEyeDr) covers rent, CAM, and real estate taxes.
- Strong tenant: MyEyeDr, a national optometry chain with over 800 locations.
- Stable income stream: Generating $5,000 monthly rent.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,019
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$480,380
$480.4K
Cap Rate 7%
$343,129
$343.1K
Cap Rate 9%
$266,878
$266.9K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$37.5K $15.00/SF
− Vacancy
−$3.2K −$1.28/SF
EGI
$34.3K $13.73/SF
− OpEx
−$10.3K −$4.12/SF
NOI
$24.0K $9.61/SF
Area
Monroe County, MI
Vacancy
8.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$480,380
Cap Rate 7%
$343,129
Cap Rate 9%
$266,878
Alternative Uses
Best Use
Retail
$343.1K
$300.2K – $400.3K
NOI $24,019 @ 7.0% cap · market cap 3.56%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.58M
$2.26M – $3.01M
NOI $180,490 @ 7.0% cap · market cap 26.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
323
Businesses Nearby
237k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Groceries 26%
Shops & Services 24%
Home Improvements & Furnishings 5%
Kroger
Groceries
62,720 visits/mo
0.1 miles
McDonald's
Dining
27,277 visits/mo
0.1 miles
Dollar Tree
Shops & Services
21,586 visits/mo
0.2 miles
Kroger Fuel Center
Shops & Services
20,765 visits/mo
0.1 miles
Taco Bell
Dining
13,677 visits/mo
0.1 miles
Demographics for 48144, MI
10,331
Population
4,179
Households
2.5
Avg Household Size
46
Median Age
31%
College-Educated
95%
High-School Grad
7.9 sq mi
ZIP Area
1,308
Density / Sq Mi
$97,371
Median Household Income
$48,077
Median Earnings
$1,116
Median Rent
$241,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - NNN leased retail property with stable tenant, MyEyeDr.
Where is this retail space located?
The property is located at 7470 Secor Rd Lambertville, MI.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Net investment property: Tenant (MyEyeDr) covers rent, CAM, and real estate taxes.; Strong tenant: MyEyeDr, a national optometry chain with over 800 locations.; Stable income stream: Generating $5,000 monthly rent.
