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29389039
29806608

9163 Babcock St SE, Palm Bay, FL 32909

DH
NC NC 288268
Atlantic Capital Partners
ML
NC NC 231272
Atlantic Capital Partners
BO
NC NC 315015
Atlantic Capital Partners
Listed by Atlantic Capital Partners
$4,078,000
110 days on market
Updated 14 days ago

Heartland Dental | Palm Bay, FL | Publix Outparcel

Details
Property Type Retail
Sub Type Pharmacy/Drug, Shopping Center (+1)
Square Footage 4,260
Net Rentable (SqFt) 4,260
Cap Rate 5.15%
NOI $210,000
Occupancy 100%
Tenancy Single
Brand/Tenant Heartland Dental
Lease Type Absolute NNN
Lease Term 12
Lease Expiration 01/31/2038
Remaining Term 11.7
Rent Bumps Yes
Lease Options 4 x 5-year options
Price per SqFt $986
Broker Co-Op Yes
Class A
Year Built 2026
Acreage 1.200
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 01/21/2026
Ownership Fee Simple

5.15% CAP | PUBLIX OUTPARCEL

Investment highlights

CORPORATE GUARANTEE FROM CREDIT TENANT

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

  • Over 1,800 Locations

  • 2024 Total Revenue was $4.2B

STRATEGIC CONNECTIVITY

  • This brand new construction is less than 3 miles from I -95

  • Quick access to Palm Bay-Melbourne-Titusville regional market

  • 242 feet of frontage and excellent visibility

PUBLIX OUTPARCEL & NEW DEVELOPMENT

  • Immediate trade area features multiple master planned residential communities under construction

  • Cypress Bay Preserve, Emerald Lakes and Edgewood at Everland’s

  • Across the street from Courtyard at Waterstone

  • Outparcel to Publix Shopping Center

LOCATED IN FAST GROWING & HIGHLY AFFLUENT PALM BAY

  • AHHI exceeds $180K in a 1-mile radius

  • Within the rapidly growing Palm Bay–Melbourne–Titusville MSA (600,000+ residents)

  • Palm Bay is the largest city in Brevard County (127,000+ residents) and benefits from strong aerospace, defense, and tech employment clusters led by Lockheed Martin, L3Harris, and Northrop Grumman

  • Potential customers with an AHHI greater than $160,000

STRONG LEASE FUNDAMENTALS

  • Abs. NNN Heartland Dental concepts

  • Zero landlord Responsibilities

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

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

BREVARD COUNTY ECONOMIC DRIVERS

  • Anchored by aerospace, defense, and high-tech employers

  • L3Harris (8,000+ employees), Northrop Grumman (6,500+ employees), and Lockheed Martin contribute to consumer spending

Listing Contacts

DH
NC NC 288268
Atlantic Capital Partners
ML
NC NC 231272
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
$210,000.00
$17,500.00/mo

Valuation Metrics

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DSCR
5.15%
Cap Rate
5.15%
ROI

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