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Views: 96 DOM: 121 Updated: 08.31.24 Posted: 07.23.24 Status: Active

Summary

Price $2,902,000
Built/Renov 2022
Tenant Heartland Dental
Cap Rate 5.95%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 4,069
Lease Start 09-12-2022
#Units 1,700
Price/SF $713.20
Expiration 09-30-2032
Tenant Type Medical/Health
NOI $172,688
R. Term 7.10
Ownership Fee Simple
Rent/SF $42.44
Increases 10.0%/3/yrs
Pop 5Mi 100,643
Lot/AC 1.61
Options 4/5yrs/10%
AHHI 5Mi $134,191

Lease Highlights

  • New 2022 construction
  • Heartland Dental has 8+ 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 | New roof in 2022
  • Corporate guarantee | Investment grade tenant

Location Description

Heartland Dental is strategically located on Arcade Place, with access to 22,185 vehicles passing by daily. The property serves as an outparcel to Lakewood Ranch, a center anchored by Publix, which has seen 2.4 million visits in the trailing 12 months, ranking in the top 86th percentile nationally according to Placer.ai. The immediate area is surrounded by well-known national tenants including...

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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 : 6,005 45,874 113,856
2024 Total Population : 5,502 41,113 104,681
2024 Employed Civilian Pop : 2,295 18,160 47,775
2024 Total Businesses : 270 1,064 2,883
2024 Average Household Income : $ 166,248 $ 157,332 $ 145,417
2024 Total Consumer Spending : $ 299 M $ 2209 M $ 5459 M
2024 Median Age : 48 49 51
2024 Total Households : 2,117 16,383 43,528
2024 Pop Age 25+: Bachelor's Degree : 1,081 9,305 22,952
2024 Average Home Value : $ 650,931 $ 612,161 $ 573,037
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Manatee Ave E 111th St E 2005 15,800 0.25 mi
SR 64 E School House Dr 2022 51,000 0.78 mi
SR 64 E Aurora Blvd 2022 32,000 0.87 mi
4th Ave E 2022 23,500 1.03 mi
Manatee Ave E Lena Rd 2005 24,500 1.43 mi
Lakewood Ranch Boulevard 44th Ave E 2022 22,185 1.57 mi
81st Ct E 2022 133,000 1.93 mi
SR 64 E Grand Harbour Pk 2022 48,500 1.97 mi
SR 64 E 22nd Ter E 2022 13,600 1.99 mi
Gates Creek Rd 2022 23,500 2.10 mi

Listing Broker

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