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Views: 137 DOM: 340 Updated: 11.22.24 Posted: 01.16.24 Status: Active

Summary

Price $2,648,000
Built/Renov 2008/2023
Tenant Heartland Dental
Cap Rate 6.25%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 3,756
Lease Start 08-31-2023
#Units 1,750
Price/SF $705.01
Expiration 08-31-2033
Tenant Type Medical/Health
NOI $165,500
R. Term 8.8
Ownership Fee Simple
Rent/SF $44.06
Increases 10.0%/4/yrs
Pop 5Mi 140,406
Lot/AC 1.49
Options 4/5yrs/10%
AHHI 5Mi $124,267

Lease Highlights

  • Heartland Dental has 8+ years remaining on the current lease term with 4 (5-year) options to extend
  • 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 guarantee | Investment grade tenant

Location Description

Heartland Dental is strategically located at the signalized, hard corner intersection of Oak Street and Orchard Road, benefiting from a combined daily traffic count of 32,275 vehicles. The property maximizes intersection visibility as it is situated at the entrance to a Woodman’s Market-anchored shopping center. Additionally, the surrounding area features prominent 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
2028 Total Population : 4,312 42,405 140,182
2023 Total Population : 4,482 43,412 137,695
2023 Employed Civilian Pop : 2,757 22,765 70,717
2023 Total Businesses : 115 957 3,864
2023 Average Household Income : $ 141,533 $ 117,216 $ 121,946
2023 Total Consumer Spending : $ 209 M $ 1543 M $ 5064 M
2023 Median Age : 37 37 37
2023 Total Households : 1,760 15,420 48,638
2023 Pop Age 25+: Bachelor's Degree : 875 6,096 21,312
2023 Average Home Value : $ 311,036 $ 289,923 $ 304,051
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
83 Oak St 2018 27,800 0.09 mi
Oak St Deerpath Rd 2014 4,650 0.12 mi
Oak St 83 2014 8,950 0.13 mi
Deerpath Rd Oak St 2018 10,100 0.18 mi
Deerpath Rd Oak St 2018 3,900 0.19 mi
Orchard Road Orchard Rd 2018 2,650 0.24 mi
Tanner Rd Deer Oaks Rd 2014 6,150 0.30 mi
Orchard Gateway Boulevard Orchard Rd 2018 5,150 0.35 mi
Deerpath Rd Tanner Rd 2018 7,450 0.41 mi
83 Tanner 2014 13,600 0.46 mi

Listing Broker

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