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Aspen Dental & AT&T, Englewood, FL

Aspen Dental & AT&T, Englewood, FL


Investment Summary

Price $3,846,000
Cap Rate
NOI
Lease Term Various
Lease Type Net Leases
Rental Increases Various
Year Built 2023
Building Size 5,625 SF
Lot Size 0.71 Acres (30,770 SF)
Status Closed
Lead Brokers Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Jack Hinson
Brokerage
704.572.9921
jack.hinson@cushwake.com
CA RE License #02059267

Investment Highlights

100% LEASED MULTI-TENANT ASSET WITH SCHEDULED RENTAL INCREASES
» 100% leased two-tenant “Amazon-proof” asset to Aspen Dental and AT&T
» Aspen Dental is one of the largest Dental brands in the U.S. with over 1,000 locations across the nation with annual revenues of over $500 million
» Aspen Dental is rapidly expanding with plans for another 75-100 openings in 2023
» AT&T (NYSE: “T”) is the world’s largest telecommunications company and the second largest provider of mobile phone services

HIGH VISIBILITY WITH ACCESS TO NEARLY 40K VEHICLES PER DAY IN FRONT OF THE PROPERTY
» Excellent visibility and access to a combined 39,800 vehicles per day at a signalized intersection
» Surrounded by notable tenants such as Walmart Supercenter, Walgreens, CVS, Publix Super Market, Winn-Dixie, Starbucks, AutoZone Auto Parts, Burger King, Dunkin’, and many others
» Minutes from Lemon Bay High School (1,085 students) and HCA Florida Englewood Hospital (100 beds, 37,000 patients annually)
» 10.4 miles from State College of Florida, Manatee-Sarasota (Venice), a 100-acre campus with 9,223 students

PRIME LOCATION ON FLORIDA’S SOUTHWEST COAST WITH ACCESS TO A LARGE RESIDENT AND TOURIST POPULATION
» 43,498 residents within a five-mile radius (16% growth since 2010)
» Average annual household income of $79,293 within five miles (projected to increase 21% by 2027)
» Beneficial proximity to the Punta Gorda Airport (1.56 million passengers) and Sarasota Bradenton International Airport (3.16 million passengers in 2021)
» Gateway to Fort Myers, a major tourist destination within Florida with 5 million annual visitors spending more than $3 billion in the area

Property Description

SOLD

» Aspen Dental and AT&T is located at a signalized intersection with excellent visibility and access to a combined 39,800 vehicles per day
» The property is surrounded by notable tenants such as Walmart Supercenter, Walgreens, CVS, Publix Super Market, Winn-Dixie, Starbucks, AutoZone Auto Parts, Burger King, Dunkin’, and many others
» The site is minutes from Lemon Bay High School (1,085 students) and HCA Florida Englewood Hospital (100 beds, 37,000 patients annually) and 10.4 miles from State College of Florida, Manatee-Sarasota (Venice), a 100-acre campus with 9,223 students
» 43,498 residents (16% growth since 2010) with an average annual household income of $79,293 live within a five-mile radius
» The average annual household income is projected to increase 21% by 2027, posing the subject property and Englewood for significant concurrent growth
» The location maintains beneficial proximity to the Punta Gorda Airport (1.56 million passengers) and Sarasota Bradenton International Airport (3.16 million passengers in 2021) and is a gateway to Fort Myers, a major Florida tourist destination visited by 5 million people annually spending more than $3 billion in the area

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