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DOM: 117 Updated: 02.29.24 Posted: 09.22.23 Status: Sold 01.17.24

Summary

Price $3,015,000 $3,152,000
Built/Renov 2022
Tenant Heartland Dental
Cap Rate 5.75% 5.50%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 4,260
Lease Start 08-12-2022
#Units 1,600
Price/SF $707.75 $739.91
Expiration 08-31-2032
Tenant Type Medical/Health
NOI $173,382
R. Term 7.3
Ownership Fee Simple
Rent/SF $40.70
Increases 10.0%/4/yrs
Pop 5Mi 83,637
Lot/AC 1.04
Options 4/5yrs/10%
AHHI 5Mi $155,544

Lease Highlights

  • Heartland Dental has 8+ years remaining on their current lease term with 4 (5-year) options to extend
  • Lease features 10% rental increases every 5 years
  • Favorable NN+ lease with landlord responsible for foundation and roof
  • Tenant reimburses landlord for majority of expenses
  • Corporate guaranteed lease
  • Income tax free state

Location Description

Heartland Dental is conveniently located along Country Rd. 510 W. which sees in excess of 16,500 vehicles passing by daily. It is positioned within a new, high quality retail center, with co-tenants including Publix, Great Clips, Wendy’s and more, creating a strong draw to the trade area. Over 640 multi-family units and over 95K SF of retail has been developed in a one-mile radius over the...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Heartland Dental is an American dental support organization, providing non-clinical administrative support services to over 2,600 dentists in over 1,600 dental offices across 38 states and the...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 7,059 29,721 98,337
2023 Total Population : 4,589 24,472 83,637
2023 Employed Civilian Pop : 2,234 11,880 41,398
2023 Total Businesses : 54 451 1,610
2023 Average Household Income : $ 140,920 $ 158,804 $ 155,544
2023 Total Consumer Spending : $ 202 M $ 1141 M $ 3970 M
2023 Median Age : 34 35 35
2023 Total Households : 1,647 8,400 30,044
2023 Pop Age 25+: Bachelor's Degree : 1,187 5,801 18,664
2023 Average Home Value : $ 464,230 $ 471,806 $ 473,587
*ESRI data is presented for informational purposes only

Listing Broker

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