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Views: 95 Updated: 04.15.24 Posted: 10.03.23 Status: Inactive 04.15.24

Summary

Price $2,870,000
Built/Renov 2023
Tenant Heartland Dental
Cap Rate 6.15%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 4,200
Lease Start 12-11-2023
#Units 1,600
Price/SF $683.33
Expiration 12-31-2033
Tenant Type Medical/Health
NOI $176,400
R. Term 9.7
Ownership Fee Simple
Rent/SF $42.00
Increases 6.0%/5/yrs
Pop 5Mi 44,696
Lot/AC 0.76
Options 3/5yrs/10%
AHHI 5Mi $108,087

Lease Highlights

  • New 2023 construction
  • Heartland Dental recently signed a brand-new 10-year lease with 3 (5-year) options to extend
  • Lease features 6% rental increase at year 6 on the primary lease term and 10% at the start of each option
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee by KKR & Co, Inc (NYSE: KKR)

Location Description

This newly constructed Heartland Dental is strategically located at the hard corner intersection of Croell Avenue and Hiawatha Pioneer Trail with access to 7,302 vehicles per day. The site is situated within a dense residential area providing a direct consumer base for the site to draw from. Additionally, the site is within close proximity to Park Place, a 450+ acre mixed use development with...

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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 : 3,681 11,249 52,650
2023 Total Population : 3,542 10,738 50,661
2023 Employed Civilian Pop : 2,089 5,410 29,639
2023 Total Businesses : 53 486 1,707
2023 Average Household Income : $ 102,742 $ 102,893 $ 124,162
2023 Total Consumer Spending : $ 125 M $ 358 M $ 2133 M
2023 Median Age : 34 34 33
2023 Total Households : 1,397 3,973 19,798
2023 Pop Age 25+: Bachelor's Degree : 698 2,020 11,209
2023 Average Home Value : $ 318,000 $ 327,314 $ 346,184
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
East Marengo Road Stephans St 2022 11,200 0.11 mi
Stephans St E Marengo Rd 2006 2,230 0.16 mi
Stephans St E Marengo Rd 2006 530 0.19 mi
Stephans St 2022 28 0.24 mi
Maddie Ln 2022 200 0.26 mi
Tulip Ct 2022 90 0.27 mi
E Marengo Rd Summer Hays St 2009 5,600 0.28 mi
West Marengo Road Roberts Ferry Rd 2022 11,200 0.32 mi
Main St W 3rd St 2006 530 0.32 mi
US 6 Jasper Ave 2020 8,619 0.34 mi

Listing Broker

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