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Views: 126 DOM: 154 Updated: 07.26.24 Posted: 06.20.24 Status: Active

Summary

Price $2,491,667
Built/Renov 2023
Tenant Aspen Dental
Cap Rate 6.00%
Lease Type Double NN
Guarantor Corporate
Size/SF 3,500
Lease Start 07-01-2023
#Units 1,029
Price/SF $711.90
Expiration 06-30-2033
Tenant Type Medical/Health
NOI $149,500
R. Term 8.7
Ownership Fee Simple
Rent/SF $42.71
Increases 10.0%/4/yrs
Pop 5Mi 31,263
Lot/AC 0.85
Options 3/5yrs/10%
AHHI 5Mi $58,924

Lease Highlights

  • New 2023 construction
  • Aspen Dental has 8+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Property includes additional billboard income | $2,500 per year or 25% of net revenue
  • Corporate guaranteed lease

Location Description

Aspen Dental is strategically located on Blowing Rock Boulevard, with access to 31,834 vehicles passing by daily. The property is surrounded by well-known national tenants including Aldi, Tractor Supply, Walmart Supercenter, Planet Fitness, Dunham’s Sports, and more. The 5-mile trade area is supported by a population of 31,263 residents with an average household income of $58,92. Lenoir is a...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Aspen Dental
  • Guarantor:Corporate
  • Company:Aspen Dental Management, Inc.
  • # Units:1,029
  • Stock:Private

About Tenant

Aspen Dental is the largest group of branded dental offices in the world. Aspen Dental is a full-service dental provider offering a wide range of services, including clear aligners, dentures,...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 3,908 18,143 31,099
2024 Total Population : 3,886 18,145 31,225
2024 Employed Civilian Pop : 1,565 7,809 13,484
2024 Total Businesses : 556 1,084 1,418
2024 Average Household Income : $ 58,183 $ 66,220 $ 66,900
2024 Total Consumer Spending : $ 85 M $ 453 M $ 780 M
2024 Median Age : 42 44 44
2024 Total Households : 1,636 7,603 12,918
2024 Pop Age 25+: Bachelor's Degree : 468 1,916 3,227
2024 Average Home Value : $ 219,318 $ 219,396 $ 228,114
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
US 321;NC 90 Commercial Ct NE 2022 29,886 0.11 mi
Harper Avenue Northwest Morganton Blvd SW 2022 22,645 0.15 mi
Pennton Ave NW 2022 6,518 0.22 mi
Wilkesboro Boulevard Southeast Linkside Ct 2022 18,282 0.23 mi
Harper Ave NW Palmer St NW 2004 14,000 0.26 mi
Harper Ave NW 2021 2,290 0.26 mi
Hickory Boulevard Hickory Blvd SW 2022 27,737 0.30 mi
Newland Pl NW 2022 8,032 0.31 mi
Wilkesboro Blvd NE 2022 2,751 0.33 mi
Blowing Rock Boulevard Commercial Ct NE 2022 27,842 0.34 mi

Listing Broker

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