Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Phoenix
$3,823,333
Heartland Dental | 12 Yr Absolute NNN Lease
Details
Property Type Retail, Office
Sub Type Storefront, Medical Office
Square Footage 4,328
Cap Rate 5.1%
NOI $194,990
Occupancy 100%
Tenancy Single
Brand/Tenant Heartland Dental
Lease Type Absolute NNN
Lease Term 12
Lease Expiration 10/31/2036
Remaining Term 10
Rent Bumps Yes
Lease Options 4, 5 Year Options
Year Built 2024
Acreage 0.800
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 10/14/2024
Ground Lease No
Abs NNN | Corporate Guaranty | Tampa MSA
Marketing description
Heartland Dental operates as a dental practice management organization with headquarters in Effingham, Illinois. It provides support through continuing education; and management services, such as staffing, human relations, purchasing, administration, financial, marketing and information technology support.
New Port Richey is a city located in Pasco County, Florida, situated on the west coast of the state, near the Gulf of Mexico. New Port Richey is about 35 miles northwest of downtown Tampa, making it part of the greater Tampa Bay metropolitan area.
Investment highlights
- Brand New 12-Year Absolute Triple-Net Lease with Corporate Guaranty by Heartland Dental
- 10 Percent Rental Increases Every Five Years with Multiple Renewal Options
- New High-Quality 2024 Construction
- Situated in Riverwalk Crossings Shopping Center, Outparcel to Publix Super Market
- Growing Tampa Trade Area with 148,182 Residents within a Five-Mile Radius
Listing Contacts
Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Phoenix
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$194,990.00
$16,249.17/mo
Valuation Metrics
0
DSCR
5.1%
Cap Rate
5.1%
ROI
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