Aspen Dental

1510 West University Drive, McKinney, TX 75069

$3,472,000

Cap Rate 6.25%

Views: 189 DOM: 421 Updated: 11.07.24 Posted: 09.27.23 Status: Contract 10.22.24

Summary

Price $3,472,000	Built/Renov 2024	Tenant Aspen Dental
Cap Rate 6.25%	Lease Type Double NN	Guarantor Corporate
Size/SF 3,530	Lease Start 02-29-2024	#Units 1,029
Price/SF $983.57	Expiration 02-28-2034	Tenant Type Medical/Health
NOI $217,000	R. Term 9.3	Ownership Fee Simple
Rent/SF $61.47	Increases 10.0%/5/yrs	Pop 5Mi 127,410
Lot/AC 0.63	Options 3/5yrs/10%	AHHI 5Mi $120,913

Lease Highlights

Brand new 2024 construction
Aspen Dental has 9 years remaining on the current lease term with 3 (5-year) options to extend
Lease features 10% rental increases every 5 years throughout the initial term and at the start of each option
Corporate guarantee by Aspen Dental Management, Inc.

Location Description

This newly constructed Aspen Dental is strategically located along West University Drive seeing over 50,900 vehicles per day. The tenant is within close proximity to the on/off ramp to US Hwy 75, a major north/south highway, which sees over 152,000 vehicles per day. Additionally, the site is directly across from a WinCo anchored shopping plaza further increasing consumer traffic to the...

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Key Features

New construction
Build to suit
High traffic 50M+ VPD
Major thoroughfare
Strong demographics
Income tax free state
Brand new lease
Long 10+ yr lease
Corporate Guarantee
Over 100 Units backed

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Links

Aspen Dental Wikipedia Aspen Dental Wikipedia McKinney, Texas Zip Code 75069 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Aspen Dental
Guarantor:Corporate
Company:Aspen Dental Management, Inc.
# Units:1,029
Stock:Private

About Tenant

Aspen Dental is the largest group of branded dental offices in the world. Aspen Dental is a full-service dental provider offering a wide range of services, including clear aligners, dentures,...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	6,292	59,470	151,565
2023 Total Population :	6,218	52,817	129,722
2023 Employed Civilian Pop :	3,469	26,321	66,322
2023 Total Businesses :	730	2,627	4,542
2023 Average Household Income :	$ 96,451	$ 116,045	$ 137,993
2023 Total Consumer Spending :	$ 200 M	$ 1850 M	$ 5376 M
2023 Median Age :	35	34	36
2023 Total Households :	2,377	18,431	45,693
2023 Pop Age 25+: Bachelor's Degree :	771	8,199	29,527
2023 Average Home Value :	$ 328,743	$ 392,422	$ 445,181

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
North Graves Street	Shelley St	2021	5,350	0.07 mi
North Graves Street	W University Dr	2020	5,625	0.07 mi
N Graves St	W University Dr	2009	3,010	0.08 mi
W University Dr	N Graves St	2011	29,606	0.11 mi
Waddill St	Harroun Ave	2004	2,180	0.15 mi
Heritage Dr	W University Dr	2009	1,560	0.16 mi
Harroun Ave	Heritage Dr	2004	4,500	0.17 mi
West St	2nd Ave	2009	340	0.22 mi
N Redbud Blvd	W University Dr	2011	8,578	0.24 mi
N Redbud Blvd	Harroun Ave	2011	9,164	0.25 mi

Listing Broker

Chris Lind

Marcus & Millichap: NLAG

Contact

190 Listings
22848 Views
113 Sold

Mark Ruble

Marcus & Millichap: NLAG

Contact

191 Listings
22949 Views
114 Sold

Chris Lind

Chris Lind specializes in advising the Net Lease Advisory Group’s clients in the acquisition and disposition of net-leased investment properties nationally. Chris is solely committed to single-tenant and multi-tenant net leased assets as well as structuring sale/leasebacks and portfolio sales throughout the United States. Chris has been with Marcus & Millichap since 2007 and his experience includes selling hundreds of properties located throughout the country. Chris prides himself on act

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Mark Ruble

Mark Ruble is the co-founder of the Net Lease Advisory Group and a top producing Agent with Marcus & Millichap. Mark has been with Marcus & Millichap for 19 years (2004) and has received numerous accolades for his superior service and outstanding performance. Mark has successfully closed over 1,840 properties totaling in excess of $5.7 Billion in transaction volume across 46 states. The key to Mark’s success has been his dedication to providing clients with market leading information an

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