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Heartland Dental, Windsor, CO

Heartland Dental, Windsor, CO


Investment Summary

Price $2,988,000
Cap Rate 5.65%
NOI $168,792
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 4,328 SF
Lot Size 0.86 acres (37,462 SF)
Status Available
Lead Brokers Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

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

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

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 $496B under management
» Heartland Dental continues impressive national growth with more than 87 new locations opened in 2022

HIGHLY AFFLUENT SUBURBAN AREA WITHIN THE FORT COLLINS MSA
» High-visibility location along State Route 392 / Weld County Road 68 / Main Street (18,256 AADT)
» Excellent demographics with average household incomes in excess of $150,000 within a five-mile radius of the site (projected 13% increase over the next five years)
» 68,808 residents live within five miles of this Heartland Dental, a population count that has more than doubled since 2010 and is projected to increase by more than 8% by 2028
» With a population of 167,554, Fort Collins is the fourth most populous city in Colorado
» Surrounded by national tenants including Safeway, King Soopers Supermarket, Safeway, Walgreens, Ace Hardware Starbucks, KFC, Wendy’s, Burger King, Les Schwab, AutoZone, and many others

HIGH-TRAFFIC LOCATION SURROUNDED BY MAJOR NEW DEVELOPMENTS, RESIDENTIAL COMMUNITIES, AND SCHOOLS
» Several planned housing developments adjacent to the property providing continuing growth and customer support
» Within 3 miles of new residential communities such as Greenspire at Windsor Lake (a master-planned community), Jacoby Farms (a single-family home and townhome community), and Windsor Villages at Ptarmigan (a master-planned golf community including 114 single-family lots, 180 multi-family lots, and 50 acres designed for commercial retail)
» Less than five miles from RainDance National Resort & Golf (Colorado’s best-selling master-planned home community featuring 2,556 homesites, a specialty restaurant, 1.5-acre water park, 13-acre park, 15 miles of planned community trails, and the longest golf course in North America)
» Conveniently located near Windsor High School (1,172 students), Windsor Middle School (812 students), Grandview Elementary School (763 students), Skyview Elementary School (602 students), and more

Property Description

» Exceptional Visibility and Access: This Heartland Dental is located near the signalized intersection of 17th Street and State Route 392 / Weld County Road 68 / Main Street (18,256 AADT) with interparcel access from the nearby tenants including Safeway, Burger King. and Associates in Family Medicine Windsor Clinic & Urgent Care
» Excellent Location: Situated in a largely residential neighborhood and located near communities such as RainDance National Resort & Golf, River West, Jacoby Farms, and the Columbine Commons Health & Rehab Facility, the property is a convenient and attractive option for Montrose residents
» Reliable Customer Base: The property is located near several housing developments and single-family home communities providing continuing growth and customer support
» 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 in Colorado: Colorado is ranked the #5 state for business environment, providing a positive outlook for future growth of this Heartland Dental
» Strong Demographics: Within a five-mile radius of the site, the population count is 68,808 while the average annual household income is $154,552

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