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24799611
29806552

908 S Main St, Rolesville, NC 27571

DH
NC NC 288268
Atlantic Capital Partners
BO
NC NC 315015
Atlantic Capital Partners
Listed by Atlantic Capital Partners
$3,872,000
111 days on market
Updated 14 days ago

Heartland Dental | High Growth Raleigh, NC MSA

Details
Property Type Retail
Sub Type Storefront, Dentist
Square Footage 4,200
Net Rentable (SqFt) 4,200
Cap Rate 5.35%
NOI $207,154
Occupancy 100%
Tenancy Single
Brand/Tenant Aspen Dental, Heartland Dental
Lease Type Absolute NNN
Lease Term 12.1
Lease Expiration 06/30/2036
Remaining Term 10.1
Rent Bumps Yes
Lease Options 4 x 5 Years
Broker Co-Op Yes
Class A
Year Built 2024
Acreage 0.990
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 06/14/2024
Ownership Fee Simple

5.35% CAP | Zero Landlord Responsibilities in High Growth Raleigh, NC MSA

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

NEW CONSTRUCTION IN A HIGH TRAFFICKED CORRIDOR

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

  • Transferable warranties in place

  • According the placer. ai the Bojangles next door is ranked in the 92% percentile nationwide in terms of visits

  • Along S Main St there are more than 14,500 Vehicles Per Day

BUILT IN CUSTOMER BASE: NEARBY SCHOOLS

  • Site is positioned as an outparcel to Rolesville Charter Academy with over 750 students providing an influx of customers

  • Situated less than 1.5 miles from the site are two more schools with over 1,600 more students combined

  • Directly northeast of the site is Rolesville Middle School with more than 1,000 students while Thales Academy is a mile away with around 650 students

NEARBY DEVELOPMENT

  • Site is positioned across the street from a new Publix anchored shopping center that is set to deliver in late 2025

  • Less than half a mile from the site are 140 newly constructed townhomes (Wallbrook Townhomes)

  • These two developments will have an additional 75K SF of retail, restaurant, fitness, office space, and more coming following the townhomes

RALEIGH, NC MSA

  • Raleigh, NC ranked #3 in 2023 of best residential markets (Rocket Mortgage)

  • Raleigh forecasts a 44% job growth over the next 10 years (3.0% growth from 2021 to 2022)

  • Raleigh ranked #3 in best places to live for 2023-2024 (U.S. News)

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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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$207,154.00
$17,262.83/mo

Valuation Metrics

0
DSCR
5.35%
Cap Rate
5.35%
ROI

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Additional Information

Name
David Hoppe
License
NC 288268
Name
Ben Olmstead
License
NC 315015
Brokerage
Atlantic Capital Partners
Brokerage Phone
7046515953
Title
Senior Associate
Brokerage Address
4350 Congress Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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