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Views: 70 DOM: 121 Updated: 08.31.24 Posted: 07.23.24 Status: Active

Summary

Price $2,659,000
Built/Renov 2022
Tenant Heartland Dental
Cap Rate 6.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 4,200
Lease Start 04-29-2022
#Units 1,700
Price/SF $633.10
Expiration 04-30-2032
Tenant Type Medical/Health
NOI $159,544
R. Term 7.5
Ownership Fee Simple
Rent/SF $37.99
Increases 10.0%/3/yrs
Pop 5Mi 67,063
Lot/AC 0.72
Options 4/5yrs/10%
AHHI 5Mi $92,087

Lease Highlights

  • New 2022 construction
  • Heartland Dental has 7+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant

Location Description

Heartland Dental is strategically located on Jag Branch Boulevard, with access to 21,000 vehicles passing by daily. The property serves as an outparcel to The Reserve at Smith Crossing, a 376-unit apartment complex, with cross access to 1188 at Soloman, a 312-unit apartment complex under construction. Additionally, it is across the street from The Grand at Union Cross, a 272-unit apartment...

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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
2029 Total Population : 5,820 34,914 70,877
2024 Total Population : 4,741 32,480 67,994
2024 Employed Civilian Pop : 2,481 16,741 33,901
2024 Total Businesses : 72 1,030 2,386
2024 Average Household Income : $ 123,366 $ 103,593 $ 98,467
2024 Total Consumer Spending : $ 204 M $ 1252 M $ 2437 M
2024 Median Age : 42 42 42
2024 Total Households : 1,907 13,793 28,195
2024 Pop Age 25+: Bachelor's Degree : 576 5,028 10,199
2024 Average Home Value : $ 282,224 $ 310,246 $ 313,747
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Pecan Ln 2022 30,932 0.16 mi
Union Cross Road 2019 24,000 0.26 mi
Pecan Ln 2022 5,478 0.28 mi
Lambs Ln 2022 612 0.32 mi
Pecan Ln Union Cross Rd 2003 850 0.33 mi
I- 40 Kenosha Dr 2003 54,000 0.37 mi
Union Cross Rd 2022 5,806 0.38 mi
Union Cross Road Somerset Crossing Ln 2022 24,310 0.43 mi
Union Cross Rd 2022 3,690 0.46 mi
Sedge Garden Road 2019 14,000 0.51 mi

Listing Broker

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