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24799946
29806555

2271 FM 663, Midlothian, TX 76065

DH
NC NC 288268
Atlantic Capital Partners
BO
NC NC 315015
Atlantic Capital Partners
Listed by Atlantic Capital Partners
$3,984,000
109 days on market
Updated 12 days ago

Heartland Dental | Abs. NNN | Midlothian, TX

Details
Property Type Retail
Sub Type Storefront, Dentist
Square Footage 4,260
Net Rentable (SqFt) 4,260
Cap Rate 5.25%
NOI $209,151
Occupancy 100%
Tenancy Single
Brand/Tenant Aspen Dental, Heartland Dental
Lease Type Absolute NNN
Lease Term 12
Lease Expiration 09/30/2036
Remaining Term 10.3
Rent Bumps Yes
Lease Options 4 x 5 Years
Broker Co-Op Yes
Class A
Year Built 2024
Acreage 2.050
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 09/27/2024
Ownership Fee Simple

5.25% CAP | Dallas TX MSA Rare Abs. NNN Lease Structure

Investment highlights

RARE LEASE STRUCTURE

  • One of the first Abs. NNN Leased Heartland Dentals

  • Zero landlord responsibilities

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

  • 10% rental Increases every 5 years and in option periods

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

DALLAS-FORT WORTH MSA

  • Dallas-Fort Worth-Arlington, TX MSA is the fourth most populous MSA in the Country at over 8 Million people

  • Per the U.S. Census Bureau, the Dallas-Fort Worth MSA is the fastest growing metro area in the Country

  • According to a report by Henley and Partners, the Dallas-Fort Worth area was the 18th wealthiest city in the world in 2022

NEW CONSTRUCTION

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

  • Tenant has paid to add specific capital improvements to enhance operational performance

POSITIONED NEAR MAJOR CONSUMER DRIVERS

  • Site is surrounded by schools and universities

  • Located under half a mile is Navarro College - Midlothian, 1,000+ students and almost 5,000 employees

  • Just under a mile from Jean Coleman Elementary School with 600+ students and Methodist Midlothian Medical Center, a $90 million dollar facility with 80+ beds

GREAT VISIBILITY ON HIGH TRAFFICKED RETAIL CORRIDOR

  • Fronting FM 663 (32,053 AADT) and approximately a quarter mile to Hwy 287 (62K AADT)

  • Over 483K SF of retail space within a 1-mile radius boasting a 1.1% vacancy rate (costar data)

  • Nearby National Tenants include: Kroger Marketplace, Aldi, Petco, Ross Dress for Less, and more

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
$--
$--
Annual Cash Flow
$209,151.00
$17,429.25/mo

Valuation Metrics

0
DSCR
5.25%
Cap Rate
5.25%
ROI

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