Heartland Dental

2055 Spring Stuebner Road, Spring, TX 77389

$2,791,000

Cap Rate 5.85%

Views: 18 DOM: 37 Updated: 05.20.24 Posted: 04.25.24 Status: Active

Summary

Price $2,791,000	Built/Renov 2021	Tenant Heartland Dental
Cap Rate 5.85%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 4,187	Lease Start 09-01-2021	#Units 1,700
Price/SF $666.59	Expiration 08-31-2031	Tenant Type Medical/Health
NOI $163,293	R. Term 7.3	Ownership Fee Simple
Rent/SF $39.00	Increases 10.0%/2/yrs	Pop 5Mi 253,680
Lot/AC 0.57	Options 4/5yrs/10%	AHHI 5Mi $114,405

David Hoppe

Atlantic Capital Partners

Contact

Lease Highlights

Heartland Dental has 7+ years remaining on the current lease term with 4 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guarantee | Investment grade tenant

Location Description

Heartland Dental is strategically located on Spring Stuebner Road, with access to 19,393 vehicles passing by daily. The property serves as an outparcel to Berkshire Exchange, a 352-unit apartment complex. Within a one-mile radius, there are over 250,000 square feet of retail space, featuring well-known national tenants such as Kroger, Chick-Fil-A, Wingstop, Dunkin', Popeyes, and more....

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Key Features

Build to suit
Roof guarantee
Near major nationals
Strategically located
Top 100 MSA
Income tax free state
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Heartland Dental Wikipedia Spring, Texas Zip Code 77389 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Heartland Dental
Guarantor:Corp T and Rated
Company:KKR & Co, Inc
# Units:1,700
Tenant S&P: A
Stock: NYSE: KKR

About Tenant

Heartland Dental Heartland Dental is the nation's largest dental support organization providing non-clinical, administrative support services. Heartland Dental partners with its supported...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	8,496	73,883	261,950
2023 Total Population :	7,638	68,532	253,680
2023 Employed Civilian Pop :	3,928	35,810	133,225
2023 Total Businesses :	368	3,150	9,577
2023 Average Household Income :	$ 116,402	$ 118,192	$ 114,405
2023 Total Consumer Spending :	$ 331 M	$ 2525 M	$ 8912 M
2023 Median Age :	34	36	35
2023 Total Households :	3,295	24,960	90,785
2023 Pop Age 25+: Bachelor's Degree :	1,074	11,711	45,483
2023 Average Home Value :	$ 250,488	$ 287,891	$ 296,269

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Spring Stuebner Road	I- 45	2019	23,814	0.42 mi
Spring Stuebner Rd	I- 45	2011	17,200	0.47 mi
Spring Stuebner Rd	Windsor Castle Dr	2002	11,637	0.55 mi
	Spring Stuebner Rd	2021	31,330	0.58 mi
	Spring Stuebner Rd	2022	32,897	0.58 mi
	I- 45	2021	155,201	0.60 mi
	I- 45	2022	162,388	0.60 mi
I- 45	N FwySvc Rd	2000	110,000	0.61 mi
	I- 45	2021	33,250	0.63 mi
	I- 45	2022	34,913	0.63 mi

Listing Broker

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