Aspen Dental

341 Furniture Drive, Cornelia, GA 30531

$2,427,000

Cap Rate 6.00%

Views: 50 DOM: 36 Updated: 10.16.24 Posted: 10.16.24 Status: Active

Summary

Price $2,427,000	Built/Renov 2023	Tenant Aspen Dental
Cap Rate 6.00%	Lease Type NN+	Guarantor Corporate
Size/SF 3,500	Lease Start 11-20-2023	#Units 1,100
Price/SF $693.43	Expiration 11-30-2033	Tenant Type Medical/Health
NOI $145,600	R. Term 9.0	Ownership Fee Simple
Rent/SF $41.60	Increases 10.0%/4/yrs	Pop 5Mi 25,893
Lot/AC 0.85	Options 3/5yrs/10%	AHHI 5Mi $88,080

Lease Highlights

New 2023 construction
Aspen Dental has 9 years remaining on the current lease term with 3 (5-year) options to extend
The lease features 10% rental increases every 5 years throughout the initial term and at the start of each option period
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guaranteed lease

Location Description

Aspen Dental is strategically located on Furniture Drive, with access to 32,500 vehicles passing by daily. The property will be situated next to a future Northeast Georgia Hospital and features numerous nearby national tenants, including Walmart Supercenter, Chick-fil-A, Lowe’s, Taco Bell, Big Lots, and more. Additionally, it boasts excellent visibility through significant street frontage. The...

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Key Features

New construction
Dense retail corridor
Near major nationals
Highway location
Hospital close
Top 100 MSA
Affluent suburb location
Favorable NN+ lease
Corporate Guarantee
Over 1000 units backed

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Links

Aspen Dental Wikipedia Aspen Dental Wikipedia Corneila, Georgia Zip Code 30531 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Aspen Dental
Guarantor:Corporate
Company:Aspen Dental Management, Inc.
# Units:1,100
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

Michael Berk

SRS National Net Lease Group

Contact

31 Listings
4175 Views
9 Sold

Patrick Nutt

SRS National Net Lease Group

Contact

262 Listings
27358 Views
93 Sold

Michael Berk

Michael Berk joined SRS Real Estate Partners in 2019 as senior associate in our Atlanta office as a part of the Capital Markets team. Prior to SRS, Michael worked with Calkain, where he assisted in the disposition and acquisition of net lease assets, along with structuring sale-leasebacks for QSR operators. Prior to that, he worked in the corporate marketing department at Talladega Superspeedway where he sold large-scale marketing platforms along with venue entertainment packages. Michael is

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Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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