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33235407
33235408

56060 Van Dyke Avenue, Shelby Township, MI 48316 For Sale

ZH
OH AZ, OH CO000422000
Marcus & Millichap - Columbus
AF
OH OH 2017002396
Marcus & Millichap - Columbus
MR
AZ SA550593000
Marcus & Millichap - Phoenix
CL
AZ SA627823000
Marcus & Millichap - Phoenix
Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Phoenix
$3,403,185
54 days on market
Updated 54 days ago

Heartland Dental | Corporate Absolute NNN Lease

Details
Property Type Retail, Office
Sub Type Storefront, Medical Office
Square Footage 4,370
Cap Rate 5.65%
NOI $192,280
Occupancy 100%
Tenancy Single
Brand/Tenant Heartland Dental
Lease Type Absolute NNN
Lease Term 10
Lease Expiration 02/28/2035
Remaining Term 9
Rent Bumps Yes
Lease Options 4, 5 Year Options
Year Built 2019
Acreage 1.000
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 03/01/2025
Ground Lease No

Abs NNN | 10% Increases | Detroit 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. Heartland Dental is focused on positively impacting dentistry with the goal of offering dentists the freedom to focus on their craft. This culture is sustained with continuing education and ongoing leadership development at all levels of the organization.

Heartland Dental has expanded to over 20,000 team members in over 1,800 supported office with over

2,400 supported doctors across 38 states. They are able to differentiate themselves from competition to

become what they are today. They provide dentists, hygienists, and non-clinical team members with worldclass non-clinical administrative and operational support to help them achieve sustainable professional and financial growth.

Located in west Macomb County, 20 miles north of Detroit and eight miles west of Anchor Bay, Shelby Township is home to roughly 75,000 residents. The township is home to 1,200 acres of parks, the 4,000-acre Stony Creek Metropark, and the Macomb Orchard Trail, a 24-mile hiking and biking path. Shelby Township is also home to several vibrant business districts that offer different options for commercial and industrial development with easy access to the township’s first-rate infrastructure as well as its affluent residential neighborhoods.

Investment highlights

  • Brand New 10-Year Absolute Triple Net (NNN) Lease with Corporate Guaranty by Heartland Dental
  • Dense Retail Corridor Location Surrounded by National Tenants: Target, The Home Depot, Kroger, Meijer, McDonald’s, and More
  • 10 Percent Rental Increases Every Five Years
  • 126,731 Residents within a Five-Mile Radius in the Detroit MSA
  • Population and Households Projected to Increase One to Two Percent in the Surrounding Area Over the Next Five Years
  • Frontage Along Van Dyke Avenue (More than 23,050 Cars per Day)
  • Average Household Income Exceeds $133,000 within a Five-Mile Radius
  • Within an Hour Drive of Downtown Detroit and Detroit Metropolitan Wayne County Airport

Listing Contacts

ZH
OH AZ, OH CO000422000
Marcus & Millichap - Columbus
AF
OH OH 2017002396
Marcus & Millichap - Columbus
MR
AZ SA550593000
Marcus & Millichap - Phoenix
CL
AZ SA627823000
Marcus & Millichap - Phoenix
Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Phoenix

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$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$192,280.00
$16,023.33/mo

Valuation Metrics

0
DSCR
5.65%
Cap Rate
5.65%
ROI

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Additional Information

Name
Steve Chaben
License
6502387903
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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