Listed by Cushman & Wakefield - Sacramento, California
$3,235,000
Heartland Dental | New Corp. Abs NNN Lease
Details
Property Type Office, Retail
Sub Type Medical Office, Storefront
Square Footage 4,260
Cap Rate 5.65%
NOI $182,754
Tenancy Single
Brand/Tenant Aspen Dental, Heartland Dental
Lease Type Absolute NNN
Lease Term 10
Lease Expiration 02/27/2035
Remaining Term 10
Rent Bumps Yes
Broker Co-Op Yes
Year Built 2023
Acreage 1.250
Parking Spaces 28 spaces
Parking Per SqFt 6.57
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Rent Commencement 02/28/2025
Ground Lease No
New 10-Year Abs NNN Lease | Kroger Outparcel Location
Marketing description
- Newly casted 10-year absolute NNN lease with a proven store (one of the top performing stores out of all 1,800+ locations), demonstrating long-term commitment to the site
- 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 1,800 supported dental offices located in 38 states
- Heartland Dental is majority owned by KKR, the largest global investment company in the world with over $504B under management
- Heartland Dental continues impressive national growth with 130+ new locations opened in 2025
- Outparcel to newly developed Kroger-anchored shopping center, positioning the property to capture crossover shopping opportunities
- Located just off the hard signalized intersection of East Southport Road & South Franklin Road, with access to a combined 38,395 cars per day
Investment highlights
- Direct Outparcel to Kroger-anchored retail center
- One mile from Franklin Central High School (2,500+ students and 140+ full-time employees/support personnel)
- Surrounded by residential rooftops in one of the fastest growing areas on the southside of Indianapolis
- Major national retailers near the property include Target, The Home Depot, Menards, Kohl's, LongHorn Steakhouse, McDonald's, Panera Bread, Sherwin-Williams, Walgreens, and many others
- Southeast Indianapolis is Experiencing Rapid Growth and Development:
- The property resides in a rapidly growing area of Southeast Indianapolis with 112,933 residents living within a five-mile radius of the site, a 25% increase since 2010
- Located in an affluent area with an average household income of $180,002 within one mile of the site
- Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise Heartland Dental and Southeast Indianapolis for steady concurrent growth
- Primed to capture significant suburban traffic from large housing developments directly south and west of the property
- Close proximity to the future Southern Meadows Apartment complex development with 250+ units
Listing Contacts
Listed by Cushman & Wakefield - Sacramento, California
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$182,754.00
$15,229.50/mo
Valuation Metrics
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DSCR
5.65%
Cap Rate
5.65%
ROI
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