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Views: 61 DOM: 132 Updated: 08.31.24 Posted: 07.11.24 Status: Active

Summary

Price $3,356,000
Built/Renov 2023
Tenant Heartland Dental
Cap Rate 5.90%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 4,187
Lease Start 05-19-2023
#Units 1,700
Price/SF $801.53
Expiration 05-31-2033
Tenant Type Medical/Health
NOI $198,000
R. Term 8.6
Ownership Fee Simple
Rent/SF $47.29
Increases 10.0%/5/yrs
Pop 5Mi 32,359
Lot/AC 0.81
Options 4/5yrs/10%
AHHI 5Mi $146,335

Lease Highlights

  • New 2023 construction
  • Heartland Dental has 8+ 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 & structure | New roof in 2023
  • Corporate guarantee | Investment grade tenant

Location Description

Heartland Dental is strategically located on NC-73, with access to 29,500 vehicles passing by daily. The property offers convenient cross access through the shopping center, featuring two full-access intersections and two lighted intersections for easy entry. Additionally, it is an outparcel to a Lowe’s Home Improvement and Aldi-anchored center. The immediate area features other well-known...

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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 : 2,534 20,324 36,691
2024 Total Population : 2,199 18,420 33,531
2024 Employed Civilian Pop : 1,205 9,501 17,026
2024 Total Businesses : 364 776 1,098
2024 Average Household Income : $ 126,848 $ 139,202 $ 144,684
2024 Total Consumer Spending : $ 105 M $ 892 M $ 1657 M
2024 Median Age : 45 48 47
2024 Total Households : 962 7,451 13,313
2024 Pop Age 25+: Bachelor's Degree : 463 4,013 7,422
2024 Average Home Value : $ 420,657 $ 495,522 $ 541,455
*ESRI data is presented for informational purposes only

Listing Broker

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