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Views: 45 DOM: 171 Updated: 05.10.24 Posted: 11.28.23 Status: Active

Summary

Price $2,960,250
Built/Renov 2021
Tenant Heartland Dental
Cap Rate 6.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 3,947
Lease Start 05-21-2021
#Units 1,600
Price/SF $750.00
Expiration 05-21-2031
Tenant Type Medical/Health
NOI $177,615
R. Term 7.0
Ownership Fee Simple
Rent/SF $45.00
Increases 10.0%/3/yrs
Pop 5Mi 55,591
Lot/AC 1.75
Options 4/5yrs/10%
AHHI 5Mi $104,029

Lease Highlights

  • Heartland Dental has 7+ years remaining on the current lease term with 4 (5-year) options to extend
  • Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

Heartland Dental is conveniently located on 53rd St. (12,500+ VPD), directly off the signalized intersection at U.S. Rt. 1 (28,000+ VPD). The property is shadow anchored by CVS and adjacent to Publix and Harbor Shopping Center, both of which promote strong crossover traffic to the site. This is a central location along Treasure Coast with a direct connection to Vero Beach’s attractions and 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 : 3,248 24,271 60,750
2023 Total Population : 3,140 23,017 58,647
2023 Employed Civilian Pop : 885 7,002 21,344
2023 Total Businesses : 196 1,038 4,329
2023 Average Household Income : $ 104,097 $ 120,238 $ 105,651
2023 Total Consumer Spending : $ 141 M $ 1082 M $ 2546 M
2023 Median Age : 57 56 57
2023 Total Households : 1,561 10,359 27,675
2023 Pop Age 25+: Bachelor's Degree : 427 4,162 10,724
2023 Average Home Value : $ 469,725 $ 548,335 $ 483,610
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Old Dixie Highway 57th St 2021 2,050 0.55 mi
49th Street Hwy 1 2022 3,900 0.59 mi
49th Street 28th Ct 2021 3,900 0.59 mi
Hwy 1 2022 24,000 0.78 mi
53rd Street 40th St 2022 6,500 0.81 mi
US Hwy 1 47th St 2000 19,490 0.81 mi
35th Ave 49th Pl 2000 3,425 0.83 mi
Old Dixie Hwy 61st Pl 2000 1,954 0.97 mi
49th Street 50th Dr 2022 5,000 0.98 mi
49th Street 38th Cir 2021 5,000 0.98 mi

Listing Broker

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