422 Oriana Rd Newport News, VA 23608
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Retail property with a national tenant in Newport News, VA.
Property size:
4,200 SFLot size:
0.36 AcresProperty Features for 422 Oriana Rd
General Information
- Size
- 4,200 SF
- Lot size
- 0.36 Acres
Source:
Moodyscre
Listing Agent: Ryan Burke
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Newport News Retail Investment
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.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
MyEyeDr.
(Bike/Boat/Book/etc) Store
MyEyeDr - Arndt Kenneth ...
Physician
ClearVision Optometry, now ...
(Bike/Boat/Book/etc) Store
Heather Bae, OD
Physician
ClearVision Optometry - Seago ...
Physician
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Location Insight
- Map
- Local Demand
- City
- Newport News
- County
- Newport News
- State
- Virginia
- Longitude
- -76.5353111
- Latitude
- 37.1310395
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FAQs
What type of property is this?
Medical Office Space - Retail property with a national tenant in Newport News, VA.
Where is this medical office space located?
The property is located at 422 Oriana Rd Newport News, VA.
What are key features of this property?
This property features: - Strong Tenant: MyEyeDr, a national operator with over 900 locations and $1 Billion in annual revenue, backed by Goldman Sachs.; - Fresh Lease Renewal: MyEyeDr recently signed a new 5-year lease, demonstrating commitment to the location.; - Below Market Rent: Current rent is less than $12/SF, offering potential for future rental increases.
