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Heartland Dental, Jacksonville, FL

Heartland Dental, Jacksonville, FL


Investment Summary

Price $2,913,000
Cap Rate
NOI
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 2022
Building Size 4,260 SF
Lot Size 0.90 acres (39,082 SF)
Status Closed
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

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

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

Investment Highlights

NEW 10-YEAR CORPORATE NET LEASE WITH SCHEDULED RENTAL INCREASES
» Leased to Heartland Dental for 10 years plus four (4) five-year options
» 10% fixed rental increases every five years
» 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
» 2022 construction built to Heartland Dental’s latest prototype
» 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

OUTPARCEL TO NEW CONSTRUCTION PUBLIX-ANCHORED CENTER WITH STRONG DEMOS
» 2022 construction outparcel to new Publix-anchored shopping center (Northpoint Village Shopping Center)
» Other tenants in the development include McDonald’s, Gate Gas Station, Zaxby’s, and Community First Credit Union
» High visibility site located just off the signalized hard intersection of Yellow Bluff Road and New Berlin Road with direct access to more than 20,000 vehicles per day
» 1.5 miles from I-295 (73,612 vehicles per day), the perimeter beltway for Jacksonville
» Located in an affluent area with a strong one-mile average household income of $106,470 and expected to grow by more than 15% by 2028
» 48,796 residents live within a five-mile radius of the property

CENTRAL LOCATION NEAR JAXPORT, LARGE EMPLOYERS, AND SCHOOLS
» Located just north of JAXPORT, Florida’s #1 container port by volume and the 14th largest container port in the US, with an annual economic impact of over $31B
» 1.5 miles from a major industrial distribution complex, including a GE Distribution Center, Amazon, Bridgestone, Bacardi, and dozens of others
» Within a 10-minute drive from over 10 schools, providing further traffic drivers for the site
» One of only three dentist locations within a four-mile radius

Property Description

SOLD

» 2022 construction outparcel to new Publix-anchored shopping center (Northpoint Village Shopping Center)
» Located just off the signalized hard intersection of Yellow Bluff Road and New Berlin Road with direct visibility to more than 20,000 vehicles per day
» Located just north of JAXPORT, Florida’s #1 container port by volume and the 14th-largest container port in the US, with an annual economic impact of over $31B
» 1.5 miles from a major industrial distribution complex, including a GE Distribution Center, Amazon Warehouse, Bridgestone, Bacardi, and dozens of others

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