Heartland Dental,
Bradenton, FL Investment Summary
| Price | $3,327,000 |
| Cap Rate | 5.25% |
| NOI | $174,660 |
| Lease Term | 10 Years |
| Lease Type | Net, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Excluding Roof And Structure |
| Rental Increases | 10% Rental Increases Every 5 Years Including Options |
| Year Built | 2022 |
| Building Size | 4,260 SF |
| Lot Size | Contact For Details |
| Status | Available |
| Lead Brokers | Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Ryan Forsyth Executive Managing Director 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 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Vincent Aicale Executive Managing Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 |
Investment Highlights
HEARTLAND DENTAL OUTPARCEL TO NEW PUBLIX CENTER
» 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 $496 billion under management
» Heartland Dental continues impressive national growth with more than 87 new locations opened in 2022
PROMINENT LOCATION IN HIGHLY POPULATED AND AFFLUENT FLORIDA SUBMARKET
» Prominent location along State Road 64, with direct visibility and access to more than 30,000 vehicles per day in front of the site
» Population density has doubled within a five-mile radius of the property since 2010 and is projected to grow an additional 10% over the next five-years
» 75,485 residents within a five-mile radius creating a large built-in and growing customer base
» Exceptionally high average annual household income of $161,105 within one mile of the site
» Projected 15% average annual household income increase within a 1-, 3-, and 5- mile radii of the site in the next five years, poising Heartland Dental and Bradenton for significant concurrent growth
STRATEGIC LOCATION WITHIN LAKEWOOD RANCH DEVELOPMENT IN TAX FREE STATE
» Located within Lakewood Ranch, a large master-planned community spanning over 50 square miles and one of the largest and most successful communities in the U.S. (13,000+ homes and condos)
» Outparcel to a new Publix Super Market anchored shopping center development
» Near The Oasis at Manatee River Apartments (292 units) built in 2022
» Neighboring shopping center tenants include Publix, Culver’s, Wellness Animal Hospital, Tropical Smoothie, Glitz Nail Salon, Great Clips and the UPS Store
» Florida is an income tax-free state
2022 CONSTRUCTION FEATURING HEARTLAND DENTAL’S LATEST PROTOTYPE
» New 2022 construction, featuring Heartland Dental’s latest prototype, limiting near-term deferred maintenance or capital costs
» Transferable roof warranty at closing
Property Description
» Outparcel to a new Publix Super Market anchored shopping center development
» Located within Lakewood Ranch, a large master-planned community spanning over 50 square miles and one of the largest and most successful communities in the U.S. (13,000+ homes and condos)
» Neighboring shopping center tenants include Publix, Culver’s, Wellness Animal Hospital, Tropical Smoothie, Glitz Nail Salon, Great Clips, and the UPS Store
» Prominent location along State Road 64, with direct visibility and access to more than 30,000 vehicles per day in front of the site
» Population density has doubled within a five-mile radius of the property since 2010 and is projected to grow an additional 10% over the next five-years
