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Views: 67 DOM: 88 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 8.9
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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Listing Broker

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