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Views: 86 DOM: 121 Updated: 07.23.24 Posted: 07.23.24 Status: Active

Summary

Price $2,873,000
Built/Renov 2023
Tenant Heartland Dental
Cap Rate 5.95%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 5,745
Lease Start 08-25-2023
#Units 1,700
Price/SF $500.09
Expiration 08-31-2033
Tenant Type Medical/Health
NOI $170,940
R. Term 8.9
Ownership Fee Simple
Rent/SF $29.75
Increases 10.0%/4/yrs
Pop 5Mi 60,419
Lot/AC 0.69
Options 4/5yrs/10%
AHHI 5Mi $110,140

Lease Highlights

  • New 2023 construction
  • Heartland Dental has 9+ 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 North Carolina Highway 42, with access to 15,000 vehicles passing by daily and full access into the site. The property serves as an outparcel to a recently constructed Food Lion, which boasts over 767,000 annual visitors and ranks in the top 80% of Food Lions nationwide. Additionally, it offers immediate access to Hwy 50 (12,000 VPD). Situated...

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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 : 2,626 26,665 66,515
2024 Total Population : 2,471 24,899 60,933
2024 Employed Civilian Pop : 1,104 12,459 31,751
2024 Total Businesses : 50 670 1,181
2024 Average Household Income : $ 175,715 $ 128,421 $ 125,638
2024 Total Consumer Spending : $ 137 M $ 1029 M $ 2398 M
2024 Median Age : 39 39 40
2024 Total Households : 899 9,221 22,014
2024 Pop Age 25+: Bachelor's Degree : 689 5,301 12,086
2024 Average Home Value : $ 433,205 $ 415,421 $ 412,199
*ESRI data is presented for informational purposes only

Listing Broker

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