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Views: 358 DOM: 121 Updated: 07.23.24 Posted: 07.23.24 Status: Active

Summary

Price $2,705,000
Built/Renov 2022
Tenant Heartland Dental
Cap Rate 6.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 5,826
Lease Start 08-10-2022
#Units 1,700
Price/SF $464.30
Expiration 08-31-2032
Tenant Type Medical/Health
NOI $162,312
R. Term 7.9
Ownership Fee Simple
Rent/SF $27.86
Increases 10.0%/3/yrs
Pop 5Mi 209,391
Lot/AC 0.69
Options 4/5yrs/10%
AHHI 5Mi $103,195

Lease Highlights

  • New 2022 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 and structure
  • Corporate guarantee | Investment grade tenant

Location Description

Heartland Dental is strategically located on West State Road 434, with access to 30,000 vehicles passing by daily. The property enjoys convenient proximity to I-4, which boasts a traffic volume of 131,500 VPD. The immediate area is surrounded by well-known national tenants such as LA Fitness, Publix, Starbucks, Truist, Burger King, and more. The 5-mile trade area is supported by a population...

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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 : 8,675 81,524 209,287
2024 Total Population : 8,693 81,378 208,532
2024 Employed Civilian Pop : 4,550 47,686 122,396
2024 Total Businesses : 902 5,965 13,003
2024 Average Household Income : $ 120,169 $ 111,811 $ 113,486
2024 Total Consumer Spending : $ 412 M $ 3341 M $ 8580 M
2024 Median Age : 46 41 40
2024 Total Households : 3,953 34,172 86,536
2024 Pop Age 25+: Bachelor's Degree : 1,957 18,170 43,390
2024 Average Home Value : $ 466,820 $ 455,721 $ 470,840
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Markham Woods Rd W State Rd 434 2012 15,500 0.10 mi
W State Rd 434 Spring Centre South Blvd 2012 37,500 0.13 mi
Markham Woods Road Adams St 2022 10,300 0.16 mi
Douglas Ave Adams St 2012 4,875 0.18 mi
W State Rd 434 Douglas Ave 2012 55,497 0.19 mi
Adams St 2022 7,400 0.25 mi
Douglas Ave Hobson St 2012 13,819 0.25 mi
W State Rd 434 I- 4 2001 57,327 0.26 mi
Howard Ave 2022 13,500 0.32 mi
W State Rd 434 2022 6,400 0.32 mi

Listing Broker

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