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Aspen Dental, Franklin, NC

Aspen Dental, Franklin, NC


Investment Summary

Price $2,130,000
Cap Rate 6.00%
NOI $127,750
Lease Term 10 Years
Lease Type Net, with tenant responsible for all taxes, insurance, and maintenance, excluding roof and structure
Rental Increases Approximate 10% rental increases every five (5) years
Year Built 2022
Building Size 3,500 SF
Lot Size Contact For Details
Status Under Contract
Lead Brokers Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

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

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

10-YEAR NET LEASE TO FAST-GROWING HEALTHCARE TENANT
» 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
» 10-year net lease to Aspen Dental with 10% rental increases every five years
» New 2022 construction built to Aspen Dental’s latest prototype

HIGH-VISIBILITY LOCATION IN NORTH CAROLINA SUBMARKET
» Strategic, high-visibility location on Siler Road with immediate access to U.S. Route 23/U.S. Route 441 (27,000 AADT)
» Outparcel to an ALDI-anchored shopping center currently under development
» Shadow-anchored by Walmart Supercenter with nearby local and national tenants such as Chick-fil-A, Walgreens, Big Lots, Dunkin’, Wendy’s, McDonald’s, and more
» 57,040 residents living within a 15-mile radius of the location, providing a large customer base for the site
» Average annual household income of $68,183 within five miles of the site and projected to increase 13% by 2027, poising Aspen Dental and Franklin for concurrent growth

ROBUST LOCATION NEAR LARGE SCHOOLS, ESTABLISHED EMPLOYERS, AND COMMUNITY HUBS
» Beneficial proximity to several high-density, single family developments
» Near large schools including, Franklin High School (900 students), Mountain View Intermediate School (645 students), and Macon County Middle School (625 students)
» Less than a mile from Southwestern Community College – Macon Campus (20-acre site with over 9,000 student’s system-wide)
» Two miles from Angel Medical Center (47 beds, 172 employees), one of the largest employers in the area
» Beneficial proximity to Macon County Airport and Jackson County Airport

Property Description

» This Aspen Dental is strategically located along Siler Road with immediate access to U.S. Route 23/U.S. Route 441 (27,000 AADT)
» The site is Part of a shopping center with ALDI, Chick-fil-A, and Starbucks with nearby local and national tenants such as Walgreens, Big Lots, Dunkin’, Wendy’s, McDonald’s, and more
» The location is surrounded by high-density, single family housing developments and large townhouse complexes
» The property is set near large area schools including, Franklin High School, Mountain View Intermediate School, and Macon County Middle School (2,100+ combined students)
» The location is less than two miles from Angel Medical Center (47 beds, 172 employees, one of the largest employers in the area), and maintains beneficial proximity to Macon County Airport and Jackson County Airport

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