Aspen Dental & AT&T,
Englewood, FL Investment Summary
| Price | $4,013,000 |
| Cap Rate | 5.75% |
| NOI | $230,738 |
| 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 | Under Contract |
| 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
» 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
