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1901 Miccosukee Rd, Tallahassee, FL, 32308

MyEyeDr.

$430,183

Key Information

Cap Rate
8.46%
$ per SF
$171
Tot. SF
2,511
Year Built
1970 / 2011 (R)
Term Remaining
± 4.66 Years
Type
Healthcare
Occupancy
100%
NOI
$36,393

Highlights

• Scaled National Eye-Care Platform with Institutional Sponsorship – MED has grown to more than 900 offices across approximately 30 states and is backed by institutional investors including Charlesbank Capital Partners and Goldman Sachs Asset Management.
• Naked Lease Value Add Opportunity – The existing lease creates an opportunity for a future owner to negotiate a more landlord-friendly structure with MyEyeDr. or a replacement tenant, potentially reducing landlord responsibilities and improving long-term cash flow.
• Within Tallahassee’s Established Medical Corridor – The property is strategically positioned along Miccosukee Road, which is anchored by Tallahassee Memorial Hospital (722-beds). Tallahassee Memorial HealthCare serves a broad North Florida and South Georgia region and supports a significant concentration of medical providers throughout the surrounding area.
• Affluent Surrounding Demographics – This is a high-income area with average household incomes exceeding $105,000 within a one-mile radius, supporting strong payer mix and long-term demand for healthcare services.
• Inflation-Protected Cash Flow – The lease features a 2% annual rent increase, offering investors built-in income growth and a great hedge against inflation.
• Tax-Free / High-Growth State – Florida has no personal state income tax, offering potential tax advantages for investors. According to the U.S. Census Bureau, Florida added approximately 467,000 residents from 2023 to 2024, ranking second nationally in total population growth and among the fastest-growing states in the country.
• Recession-Resistant Asset Class – The non-discretionary nature of medical care and its resilience during economic uncertainty have made healthcare real estate a strategic focus for both institutional and private investors nationwide.
• Recent Capital Improvements – According to ownership, two HVAC units were replaced in 2021. Additional improvements were completed in late 2025 and early 2026, including replacement of the rear entrance railing and installation of new bollards at the main entrance.

Photos

Location

Agents

Broker of Record

Kyle Matthews

License # BK3554632, CQ1066435 (FL)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203