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Updated: 03.26.24 Posted: 09.06.23 Status: Sold

Summary

Price $2,700,000
Built/Renov 2005/2016
Tenant Pacific Dental Services
Cap Rate 5.26%
Lease Type Abs NNN
Guarantor Corp Rated
Size/SF 6,145
Lease Start 02-22-2012
#Units 1,012
Price/SF $439.38
Expiration 02-28-2027
Tenant Type Medical/Health
NOI $142,000
R. Term 1.9
Ownership Fee Simple
Rent/SF $23.11
Increases 9.9%/3/yrs
Pop 5Mi 165,122
Lot/AC 0.92
Options 2/5yrs/9.86%
AHHI 5Mi $136,076

Lease Highlights

  • PDS, Inc. in location since 2012 (DBA Atascocita Modern Dentistry & My Kid’s Dentist)
  • Tenant has 3+ years remaining on current term with 2 (5-year) options to extend
  • Lease features rental increases at the start of each option | #1- $156k and #2- 90% FMV
  • Absolute NNN | Tenant reimburses 100% of all taxes, insurance and CAM (including CAM increases)
  • Corporate guarantee by Pacific Dental Services, Inc. (1,000+ units)

Location Description

The subject property is strategically located along Farm to Market 1960 Road East, which averages 33,600 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage and a large monument sign. Furthermore, the asset is ideally situated as an outparcel to Atascocita Commons, a regional power center anchored by Target, T.J. Maxx, Ross Dress for Less,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Pacific Dental Services
  • Guarantor:Corp Rated
  • Company:Pacific Dental Services, Inc.
  • # Units:1,012
  • Tenant S&P: B
  • Moody’s: B1
  • Stock:Private

About Tenant

Pacific Dental Services (PDS) is one of the country’s leading dental and medical support organizations. PDS provides administrative and business operations support, highly skilled staff, and...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 9,426 40,801 115,382
2023 Total Population : 8,568 39,453 108,017
2023 Employed Civilian Pop : 4,625 19,720 52,212
2023 Total Businesses : 154 1,462 4,972
2023 Average Household Income : $ 84,123 $ 77,496 $ 80,334
2023 Total Consumer Spending : $ 205 M $ 882 M $ 2478 M
2023 Median Age : 33 33 33
2023 Total Households : 2,816 13,085 35,469
2023 Pop Age 25+: Bachelor's Degree : 587 3,996 9,794
2023 Average Home Value : $ 211,115 $ 207,959 $ 236,163
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Humble Westfield Road F-M Rd 1960 Byp W 2020 54,077 0.11 mi
FM 1960 Rd W F-M Rd 1960 Byp W 2013 52,941 0.12 mi
Foxwood Forest Boulevard Foxbrick Ln 2019 10,992 0.24 mi
Foxwood Forest Blvd Foxbrick Ln 2011 8,730 0.25 mi
Lee Road Cherrystone Dr 2019 13,943 0.41 mi
Lee Rd Cherrystone Dr 2011 9,880 0.44 mi
Lee Rd FM 1960 Rd W 2001 13,300 0.53 mi
Lee Rd 2018 49,473 0.55 mi
FM 1960 Rd W Lee Rd 2013 16,476 0.59 mi
FM 1960 Bypass Road West Lee Rd 2021 45,253 0.60 mi

Listing Broker

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