Heartland Dental | Land O' Lakes, FL
New 10-Year Absolute NNN Lease | Across from Publix Anchored Center
Marketing description
Cushman & Wakefield is pleased to present an exceptional opportunity to acquire a newly constructed, absolute NNN-leased Heartland Dental property located in Land O' Lakes, Florida, within the Tampa MSA. This investment features a 10-year corporate lease with the largest dental support organization in the United States, Heartland Dental, which is majority-owned by KKR, the largest global investment company in the world with over $504 billion under management.
The property is strategically positioned near the intersection of Pleasant Plains Parkway and Land O' Lakes Boulevard along U.S. Route 41, providing high visibility and accessibility with 27,500 AADT. The site is directly across from an 84,000 SF Publix-anchored shopping center, offering exceptional crossover traffic potential. The dental office serves a rapidly growing demographic base, with 57,518 residents within five miles marking an 87% increase since 2010, and an average household income of $145,571.
Located on a large 3.34-acre parcel, the 4,280 SF building was completed in 2019 and includes 30 parking spaces. The absolute NNN lease structure provides investors with a fully passive investment, as the tenant is responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot. With 10% rental increases every five years through the initial term and four option periods, this investment offers a long-term income generator with a starting cap rate of 5.25%.
Investment highlights
- Newly casted 10-year absolute NNN lease with a proven office (one of the top performing offices out of all 1,800+ locations), demonstrating long-term commitment to the site.
- Localized Branding Strategy: Although backed by Heartland Dental's national infrastructure and credit strength, each practice is intentionally branded and operated with a localized identity designed to align with the surrounding community
- 10% rental increases every five years in initial term and four (4) option periods of five years each, providing a long-term income generator.
- Heartland's supported network delivered more than $4.2 billion in total annual revenue, underscoring its scale and influence in the U.S. dental industry.
- Located on a large 3.34-acre parcel, allowing for an abundance of parking and ease of access.
- High visibility location near the intersection of Pleasant Plains Parkway & Land O'Lakes Boulevard, with multiple points of ingress/egress to the property.
- The site's location along U.S. Route 41 allows the property to capture significant local and commuter traffic from the greater Tampa region directly to the south (400,000+ population).
- Positioned directly across from an 84,000 SF Publix-anchored shopping center, offering exceptional visibility and strong crossover traffic potential.
- Ideally located to service large residential communities, including Connerton (1,685 households), The Groves Golf & Country Club (784 homes), and Deerbrook (408 homes).
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