Smart Smiles Orthodontics
Absolute NNN | 3% Annual Increases | Motivated Seller | Sale Leaseback
Marketing description
Matthews Real Estate Investment Services is pleased to exclusively offer the opportunity to acquire an absolute NNN leased dental and orthodontic facility in Pensacola, Florida, occupied by Smart Smiles Orthodontics and Wild Smiles Pediatric Dentistry. The lease is backed by a personal guarantee from ownership, providing additional security and reinforcing long-term commitment to the location.
The investment offers a highly passive ownership structure with the tenant responsible for all maintenance, taxes, insurance, and capital expenditures. The lease also features 3% annual rent increases, creating built-in income growth and long-term cash flow stability.
The property underwent a significant interior renovation in 2023, including a full gut remodel with updated finishes, fixtures, and modernized improvements throughout. The specialized dental buildout and existing infrastructure create high replacement costs and support strong long-term tenant retention.
Strategically positioned within a dense residential corridor of Pensacola, the property benefits from strong surrounding demographics and consistent demand drivers for pediatric and orthodontic services. The location also offers convenient access to Interstate 10, North Davis Highway, and Nine Mile Road, providing strong connectivity throughout the greater Pensacola market.
The affiliated practices are operated by a team of four dentists and orthodontists and benefit from an established recurring patient base built over years of successful operations within the market, supporting long-term operational stability and occupancy continuity.
Investment highlights
- Extensive Tenant Investment: The property underwent a significant 2023 interior renovation including a full gut remodel with new sheetrock, updated finishes, fixtures, and modernized improvements throughout, resulting in a highly upgraded dental facility with strong functionality and curb appeal.
- Absolute NNN Lease with Built-In Rent Growth: The property operates under an absolute NNN lease structure with above-market 3% annual rental increases, providing passive ownership with the tenant responsible for all maintenance, taxes, insurance, and major capital expenditures. The annual rent increases create built-in income growth and help provide a hedge against inflation.
- Purpose-Built & Strong Tenant Retention: The property features a specialized dental buildout with significant dental-specific infrastructure and tenant improvements in place, creating high replacement costs that support long-term tenant retention and operational stability.
- Established Healthcare Corridor: The property is strategically positioned along E Olive Road within an established Northeast Pensacola healthcare corridor with convenient access to major hospitals, medical offices, and regional healthcare providers, supporting long-term healthcare tenancy and patient accessibility.
- Dense Residential Trade Area: Located within a dense residential area of Pensacola with strong surrounding household density and a large family-oriented population base, the property benefits from consistent demand drivers supportive of long-term pediatric and general dental services.
- Excellent Regional Accessibility: The property offers convenient access to major Pensacola thoroughfares including Interstate 10, North Davis Highway, and Nine Mile Road, providing strong regional connectivity and ease of access for patients throughout the greater Pensacola market.
- PG-Backed Lease: The lease is backed by a personal guarantee from ownership, providing an additional layer of financial security beyond the operating entity itself. The guarantee further aligns the tenant’s long-term commitment to the location and helps reinforce long-term lease stability.
- Multi-Practice Dental Operator: The property is occupied by two affiliated practices, Smart Smiles Orthodontics and Wild Smiles Pediatric Dentistry, operated by a team of four dentists and orthodontists providing specialized pediatric and orthodontic care within the Pensacola market.
- Established Patient Base: The practices benefit from an established and recurring patient base built through years of successful operations within the Pensacola market. As pediatric and orthodontic practices typically rely on long-term recurring patient relationships, the location benefits from consistent patient traffic, strong community presence, and operational continuity.
- Potential Future Credit Enhancement: The dental industry continues to experience significant consolidation from regional and national DSOs, creating potential future institutionalization or credit enhancement opportunities.
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