Heartland Dental,
Naples, FL Investment Summary
| Price | $3,976,000 |
| Cap Rate | 4.50% |
| NOI | $178,920 |
| 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 | 2021 |
| Building Size | 4,260 SF |
| Lot Size | 0.57 Acres (24,829 SF) |
| 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
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 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
» 2021 construction built to Heartland Dental’s latest prototype
NEW CONSTRUCTION IN DENSELY POPULATED AND AFFLUENT FLORIDA LOCATION
» New 2021 construction, in a development that also includes Chick-fil-A and Aldi
» Prominent visibility from Immokalee Road and exposure to 54,500 vehicles per day directly in front of the property
» Densely populated area of Naples with 84,311 residents living within a five-mile radius of the site, a 47% increase since 2010 demonstrating Naples rapid growth
» Located in an affluent area with an average annual household income of $149,257 within 3-miles of the site
» Average annual household income is projected to grow by more than 17% within 1-,3-, and 5-mile radii over the next five years
CENTRAL LOCATION NEAR RETAIL, GOLF AND COUNTRY CLUBS, AND SCHOOLS
» Neighboring large national retailers including Aldi, Publix Super Market, CVS, Chase Bank, Walgreens, and Starbucks, helping to create a built-in customer base
» Near Gulf Coast High School (2,439 students) and Laurel Oak Elementary School (1,072 students)
» The site is surrounded by a number of Golf and Country Clubs including The Quarry Golf Club, Esplanade Golf and Country Club and Heritage Bay Golf and Country Club
Property Description
» New 2021 construction, in a development that also includes Chick-fil-A and Aldi
» Prominent visibility from Immokalee Road and exposure to 54,500 vehicles per day directly in front of the property
» Located in an affluent area with an average annual household income of$149,257 within three miles of the site
» Average annual household income is projected to grow by more than 17%within 1-, 3-, and 5-mile radii over the next five years
