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Views: 114 DOM: 134 Updated: 11.07.24 Posted: 07.10.24 Status: Contract 10.07.24

Summary

Price $2,589,000
Built/Renov 2007/2023
Tenant Heartland Dental
Cap Rate 5.85%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 3,680
Lease Start 12-01-2023
#Units 1,700
Price/SF $703.53
Expiration 12-31-2033
Tenant Type Medical/Health
NOI $151,452
R. Term 9.1
Ownership Fee Simple
Rent/SF $41.16
Increases 10.0%/5/yrs
Pop 5Mi 56,482
Lot/AC 1.54
Options 4/5yrs/10%
AHHI 5Mi $145,439

Lease Highlights

  • Heartland Dental has 9+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout they 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 West Anthem Way, with access to 7,600 vehicles passing by daily. The property is adjacent to Anthem Golf & Country Club and less than 10 minutes from Outlets North Phoenix, home to over 60 stores. The immediate area features well-known national tenants, including Sonic, Walgreens, Starbucks, Taco Bell, Safeway, and more. Additionally, it is...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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
2029 Total Population : 9,441 34,554 59,410
2024 Total Population : 9,433 33,548 56,507
2024 Employed Civilian Pop : 4,808 17,828 29,724
2024 Total Businesses : 106 765 1,316
2024 Average Household Income : $ 159,770 $ 162,384 $ 155,686
2024 Total Consumer Spending : $ 488 M $ 1689 M $ 2723 M
2024 Median Age : 51 47 45
2024 Total Households : 3,571 12,168 20,417
2024 Pop Age 25+: Bachelor's Degree : 2,345 7,206 10,942
2024 Average Home Value : $ 597,643 $ 631,301 $ 622,458
*ESRI data is presented for informational purposes only

Listing Broker

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