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Heartland Dental, Bonaire, GA

Heartland Dental, Bonaire, GA


Investment Summary

Price $2,925,000
Cap Rate 6.00%
NOI $175,480
Lease Term 10 years
Lease Type Net, with tenant responsible for all taxes, insurance and maintenance, excluding roof replacement and structure
Rental Increases 10% rental increases every five (5) years
Year Built 2019
Building Size 4,680 SF
Lot Size 0.65 acres (28,314 SF)
Status Available
Lead Brokers Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

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

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

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

Investment Highlights

10-YEAR CORPORATE NET LEASE WITH UPCOMING 10% RENTAL INCREASE IN SEPTEMBER 2024
» Leased to Heartland Dental for 10 years plus four (4) five-year options
» 10% fixed rental increases every five years in initial term and extension terms
» Heartland Dental, LLC is the largest dental support organization in the U.S., with more than 1,700 supported dental offices located in 38 states
» Heartland Dental is majority owned by KKR, the largest global investment company in the world with over $496B under management
» Heartland Dental continues impressive national growth with 87+ new locations opened in 2022
» Upcoming 10% rental increase in September 2024

AFFLUENT POPULATION AND HIGH-VISIBILITY LOCATION IN PUBLIX-ANCHORED SHOPPING CENTER
» Prominent location on State Highway 247 (26,600 AADT) near the interchange of State Highway 96 (14,600 AADT)
» Excellent average annual household income of $130,173 within a one-mile radius (projected to increase 13% by 2028), poising Heartland Dental and Bonaire for steady concurrent growth
» Outparcel to Merganser Commons at Bonaire, a Publix-anchored shopping center, positioning the property to capture crossover shopping opportunities
» Surrounded by a strong mix of local and national tenants including Publix Super Markets, Taco Bell, Shell, Circle-K, Dollar General, Kroger Marketplace, Walmart Supercenter, and several others
» 67,201 residents live within a five-mile radius of the property

CENTRAL LOCATION NEAR RESIDENTIAL COMMUNITIES, MAJOR EMPLOYERS, AND SCHOOLS
» Eight miles from Robins Air Force Base (the largest single-site industrial complex in Georgia, employing a workforce of almost 24,000 civilians, contractors, and military members)
» Beneficial proximity to single-family home communities such as Stratford Hills, Harley Farms, Harley Estates, The Cottages at Blue Ridge, South Bend, Morgan Ranch, Live Oak Preserve, and many more
» Central location near highly attended schools, including Veterans High School (1,849 students), Warner Robins High School (1,753 students), Bonaire Middle School (1,049 students), and Bonaire Elementary School (566 students)
» Less than six miles from Central Georgia Technical College (8,140 students) and Middle Georgia State University – Warner Robins Campus (7,259 students), providing a stable customer base
» Less than five miles from Frito-Lay Inc – Georgia Warehouse (1,512 employees), one of the largest employers in the area

Property Description

» Exceptional Visibility and Access: This Heartland Dental is located near the confluence of State Route 247 and State Route 96 (combined 41,200 AADT) with interparcel access within Merganser Commons (anchored by Publix Super Market)
» Excellent Location: Situated in a largely residential neighborhood and located near communities such as Stratford Hills, Harley Farms, and Harley Estates, the property is a convenient and attractive option for Bonaire residents
» Reliable Customer Base: The property is located near several major employers, including Frito-Lay Inc, Northrop Grumman, and Anchor Glass Container Corporation
» Beneficial Proximity to Schools: The site is surrounded by schools, including Windsor High School (1,172 students), Windsor Middle School (812 students), Grandview Elementary School (763 students), and Skyview Elementary School (602 students)
» Set Near A Major U.S. Airforce Base: This Heartland Dental is located less than 10 miles from Robins Air Force Base (the largest single-site industrial complex in Georgia)
» Strong Demographics: Within a five-mile radius of the site, the population count is 67,201, while the average annual household income within a one-mile radius is$130,173

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