Listed by Kidder Mathews El Segundo
$3,397,527
Aspen Dental Net Leased Investment
Details
Property Type Retail
Sub Type Storefront, Shopping Center
Square Footage 3,664
Cap Rate 5.50%
NOI $186,864
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 10
Remaining Term 10
Rent Bumps Yes
Lease Options Three (3) Five Year Options
Price per SqFt $927
Class A
Year Built 2026
Acreage 0.510
Parking Spaces 401 spaces
Parking Per SqFt 109.44
Investment Type Net Lease
Lease Commencement 08/08/2026
Ground Lease No
Ownership Fee Simple
Retail | 5.50% CAP | 3,664 SqFt
Marketing description
Kidder Mathews as exclusive agent to Owner is pleased to present Aspen Dental at The Shoppes at Merced, a newly constructed single tenant net lease pad within a Grocery Anchored Power Center.
The subject property benefits from brand new construction, a 10 year corporate net lease, and tenancy by Aspen Dental Management, Inc., one of the largest dental support organizations in the United States. Located just off the high traffic signalized corner of W Olive Ave & R Street (± 40,459 VPD), the property sits within the heart of Merced's revitalized retail corridor.
Investment highlights
- Brand new 2026 construction reflecting Aspen Dental's ideal prototype specification — a ±3,664 SF purpose-built dental facility designed for maximum operational efficiency, patient flow, and long-term tenancy, eliminating near-term capital risk and deferred maintenance concerns.
- Brand new ten (10) year term with rent set to commence August 8, 2026 (Tenant has accepted premises).
- The lease is a NNN lease structure which requires minimal landlord responsibilities creating a highly passive investment. New 15 Year roof warranty.
- The Fee Simple (land & building) ownership provides potential depreciation benefits that may meaningfully enhance after-tax returns and overall investment yield (consult CPA regarding applicability).
- Ten percent (10%) increase every five (5) years throughout the primary term and extension options provide strong NOI growth throughout the hold and an excellent long term hedge against inflation.
- Aspen Dental Management, Inc. is the flagship platform of The Aspen Group (TAG), a diversified private equity-backed healthcare organization reporting over $4.2 billion in annualized revenue across 45+ states.
- Aspen Dental is one of the largest Dental Support Organizations (DSOs) in the United States, operating 1,100+ branded locations nationwide — providing institutional-scale operational infrastructure behind every lease obligation.
- Strategically positioned as a pad site within The Shoppes at Merced, a Grocery Shadow Anchored Center anchored by Burlington, Petco, Five Below, ULTA, Rack Room Shoes, Carter's, Tilly's, Bath & Body Works, and Mattress Firm — one of the strongest national tenant line-ups in the Central Valley.
- Located just off the high-traffic signalized intersection of W Olive Avenue & R Street, Merced's primary east-west retail artery, with ±40,459 vehicles per day providing exceptional visibility and consistent consumer traffic.
- Situated at the epicenter of Merced's dominant retail corridor, surrounded by a deep roster of national tenants including Target, Walmart, Best Buy, Lowe's, Ross, Hobby Lobby, CVS, Michaels, Food 4 Less, Vallarta Supermarket, Crunch Fitness, Food Maxx, O'Reilly, Dutch Bros, Starbucks, Olive Garden, Chipotle, Panera Bread, McDonald's, KFC, Burger King, and many more.
- Immediately adjacent to Marketplace at Merced, a ±53-acre regional Grocery Anchored mall currently undergoing a major redevelopment into an entertainment and service-driven destination, which is expected to drive additional foot traffic and further solidify the surrounding area as Merced's premier retail epicenter.
- Highly visible pad site positioned just off the hard corner of W Olive Avenue & R Street, benefiting from direct exposure to ±40,459 VPD at one of Merced's highest-traffic signalized intersections.
- Extensive frontage and monument signage along R St provides maximum brand visibility and wayfinding for both existing and prospective patients.
- Strong site access via multiple ingress/egress points including two driveways on R Street, one on W Olive Avenue, and additional access through adjacent properties — minimizing friction for patient visits and supporting strong daily utilization.
- Benefits from 19 dedicated stalls (5.19/1,000 SF) and a shared parking field with The Shoppes at Merced, providing ±401 total stalls including shared center parking - well in excess of the parking demand typically required for a single-tenant dental use.
- Ideally sized ±0.51 acre parcel purpose-built to Aspen Dental's ideal prototype specifications, offering an efficient, modern facility with optimal patient flow and operational design.
- The subject property is supported by a densely populated and growing trade area with ±113,593 residents within a 5-mile radius, providing Aspen Dental with an immediate and accessible patient base.
- Merced's median age of 31.4 years and young, family-oriented population profile aligns directly with Aspen Dental's core patient demographic — a broad, underserved consumer base with long-term recurring dental care needs.
- ±39% of the surrounding population in the trade area reflects a demographic segment that is statistically underserved in dental care access — precisely the type of market Aspen Dental targets in its national expansion strategy.
- Merced's affordable housing prices and middle-income household profile (avg. household income of $81,691) support consistent demand for Aspen Dental's value-oriented, accessible dental care model.
- City population has grown 13% since 2020, driven in part by UC Merced's continued expansion — a structural growth driver that supports long-term patient volume and reinforces the durability of Aspen Dental's site selection in this market.
Listing Contacts
Listed by Kidder Mathews El Segundo
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$186,864.00
$15,572.00/mo
Valuation Metrics
0
DSCR
5.5%
Cap Rate
5.5%
ROI
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Zoning
P-D PlannedPlanned Development
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View all 1 uses Last updated Jan 23, 2026 For deeper zoning details, reports are available at Zoneomics
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