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Views: 140 DOM: 271 Updated: 11.08.24 Posted: 03.25.24 Status: Active

Summary

Price $2,399,454
Built/Renov 2020
Tenant Heartland Dental
Cap Rate 6.50%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 4,273
Lease Start 12-30-2019
#Units 1,700
Price/SF $561.54
Expiration 12-31-2029
Tenant Type Medical/Health
NOI $155,964
R. Term 5.0
Ownership Fee Simple
Rent/SF $36.50
Increases 10.0%/1/yrs
Pop 5Mi 47,134
Lot/AC 0.87
Options 4/5yrs/10%
AHHI 5Mi $129,679

Lease Highlights

  • Heartland Dental has 5 years of firm term remaining with 4 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsibilities limited to roof & structure
  • Corporate guaranteed lease

Location Description

Heartland Dental is strategically located at the signalized, hard corner intersection of Central Ave East and Edgewood Drive NE, with access to a combined daily traffic count of 27,500 vehicles. The property is conveniently adjacent to CVS and Cub Foods Grocery Store, and it benefits from its close proximity to new multifamily developments. The 5-mile trade area is supported by a population of...

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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
2028 Total Population : 6,108 33,163 57,261
2023 Total Population : 5,409 28,694 49,802
2023 Employed Civilian Pop : 3,045 15,819 27,549
2023 Total Businesses : 167 582 1,064
2023 Average Household Income : $ 121,757 $ 133,113 $ 139,861
2023 Total Consumer Spending : $ 205 M $ 1091 M $ 1965 M
2023 Median Age : 34 33 34
2023 Total Households : 1,972 9,608 16,483
2023 Pop Age 25+: Bachelor's Degree : 1,101 5,572 10,107
2023 Average Home Value : $ 388,097 $ 378,916 $ 389,998
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Central Ave E 2022 4,242 0.07 mi
Edgewood Dr NE Ash Ave NE 2016 3,250 0.08 mi
Edgewood Dr SE Hillcrest Dr SE 2016 2,900 0.11 mi
Central Avenue East Edgewood Dr SE 2018 19,400 0.13 mi
Meadowlark Rd SE 2022 1,514 0.17 mi
Larabee Avenue Northeast Town Center Dr NE 2022 4,971 0.26 mi
Edgewood Drive Northeast 43rd Pl NE 2021 1,967 0.27 mi
Town Center Drive Larabee Ave NE 2022 2,248 0.28 mi
42nd St NE Larabee Ave NE 2016 18,800 0.32 mi
Lincoln Dr Central Ave E 2016 1,400 0.32 mi

Listing Broker

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