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Views: 118 DOM: 51 Updated: 10.21.24 Posted: 10.01.24 Status: Active

Summary

Price $2,481,600
Built/Renov 1997/2024
Tenant Heartland Dental
Cap Rate 6.50%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 4,947
Lease Start 07-22-2022
#Units 1,750
Price/SF $501.64
Expiration 07-30-2032
Tenant Type Medical/Health
NOI $161,304
R. Term 7.8
Ownership Fee Simple
Rent/SF $32.61
Increases 10.0%/5/yrs
Pop 5Mi 26,485
Lot/AC 1.22
Options 4/5yrs/10%
AHHI 5Mi $136,976

Lease Highlights

  • Heartland Dental has 7+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 10% rental increases throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

Heartland Dental is strategically located near the signalized hard corner intersection of Ridge Road and US Highway 6, with access to a combined daily traffic count of 15,723 vehicles. The property is positioned as a pad site to Jewel-Osco, the dominant grocer in the market. The surrounding area features prominent national tenants, including AutoZone, Culver's, Walgreens, and Starbucks. Key...

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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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Listing Broker

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