Absolute Net Dental Leaseback
Office | 6.75% CAP | 7,207 SqFt
Marketing description
Sperry-Griffin Partners is pleased to present this exceptional investment sale opportunity: a single-tenant, absolute NNN asset with 8 years remaining on the initial lease term and an attractive 6.75% cap rate. Two 5- year options to renew. Currently in year 3 of a 10 year initial term.
Situated in the thriving Statesville market and zoned O-I-2, this property is ideally suited for Office/Medical investors seeking stable returns and long-term security. This offering represents a prestigious and lucrative addition to any investment portfolio. Current base rent is $28.26 psf with 3% annual increases.
The tenant, Happy Teeth Pediatric Dentistry, is a well-established pediatric dental practice with three locations—Statesville (subject property), Mooresville, and Huntersville—further strengthening the credit and stability of this opportunity. The lease is absolute net with Landlord covering all building taxes, insurance, and common area maintenance. The tenant is also affiliated with a larger DOS with over 40 locations. Lease will be Personally Guaranteed by partner.
Secure your position in this flourishing market with this remarkable, low-maintenance investment.
Investment highlights
7, 207 SF building on two level / Built in 1980 (level 1 currently used for storage is 3441 sf, main level is 3766 sf)
Zoned O-I-2 / Strategic Statesville location
Well-established pediatric dental practice with 3 locations
8 years left on 10-year term / 2 - 5-year options to renew
3% annual increase on base rent
Well-established dental practice with 3 locations also part of a larger DOS
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