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24798547
29806536

101 Hwy 17 S, North Myrtle Beach, SC 29582

DH
NC NC 288268
Atlantic Capital Partners
BO
NC NC 315015
Atlantic Capital Partners
Listed by Atlantic Capital Partners
$3,857,000
111 days on market
Updated 14 days ago

Heartland Dental | North Myrtle Beach, SC

Details
Property Type Retail
Sub Type Storefront, Dentist
Square Footage 4,143
Net Rentable (SqFt) 4,143
Cap Rate 5.35%
NOI $206,370
Occupancy 100%
Tenancy Single
Brand/Tenant Aspen Dental, Heartland Dental
Lease Type Absolute NNN
Lease Term 12.1
Lease Expiration 03/31/2036
Remaining Term 9.8
Rent Bumps Yes
Lease Options 4 x 5 Years
Broker Co-Op Yes
Class A
Year Built 2024
Acreage 0.860
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 03/01/2024
Ownership Fee Simple

5.35% CAP | Zero Landlord Responsibilities in High Growth Myrtle Beach, SC

Investment highlights

RARE LEASE STRUCTURE

  • One of the first Abs. NNN Heartland Dental lease formats

  • Zero landlord Responsibilities

  • 12 Year lease with four (4) five (5) year extensions

  • 10% Rental Increases every 5 years and in extensions

LARGEST DENTAL ORGANIZATION GUARANTY

  • Heartland Dental is the largest dental support organization in the United States

  • Over 1,800 Locations

  • 2023 Total Revenue was $3B

TOURIST DESTINATION

  • Top Tourist Destination in the Country - The Grand Strand, which includes Myrtle Beach, hosts approximately 19 million tourists annually

  • Myrtle Beach ranked third on most popular tourist destinations for Americans by Trip Advisor in 2021

  • Home to 25 international companies, in the top 10 for Foreign Direct Investment

  • The subject property is approximately 30 miles north of the Grand Strand

LOCATED IN HEALTHY RETAIL TRADE AREA

  • Within a 1-mile radius of the site there is more than 1.8M SF of retail space boasting a 0.6% vacancy rate

  • Nearby national retailers include: Kroger, Walmart Supercenter, Lowe’s Home Improvement, The Home Depot, and much more

NEWLY BUILT BUILDING AND FRONTING MAJOR HIGHWAY

  • The Building has recently been built to suit the tenant’s need

  • Warranties in place

  • Site is positioned off of busy I-17 (44.1K VPD) with great visibility from the highway

MYRTLE BEACH MSA

  • Over 40K people live in a 3-mile radius, which has grown at an annual rate of 2.9% over the last 5 years (According to

  • Myrtle Beach has been named the fastest growing City in the US for 3rd straight year (U.S. News & World Report 2023)

  • 42% increases from 2010

Listing Contacts

DH
NC NC 288268
Atlantic Capital Partners
BO
NC NC 315015
Atlantic Capital Partners
Listed by Atlantic Capital Partners

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$206,370.00
$17,197.50/mo

Valuation Metrics

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DSCR
5.35%
Cap Rate
5.35%
ROI

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