Listed by Matthews
$3,545,451
Heartland Dental
Details
Property Type Office
Sub Type Medical Office
Square Footage 4,503
Cap Rate 5.65%
NOI $200,318
Occupancy 100%
Tenancy Single
Brand/Tenant Heartland Dental
Lease Type Absolute NNN
Lease Expiration 01/31/2036
Rent Bumps Yes
Price per SqFt $787
Class A
Year Built 2024
Acreage 1.020
Investment Type Net Lease
Lease Commencement 01/12/2024
Ownership Fee Simple
Best In Class Tenant | Recession Resistant, $187 Billion Industry
Marketing description
Matthews Healthcare Division proudly presents a unique opportunity for qualified investors: ownership of a new construction dental office in Horn Lake, MS. As the largest dental operator in the country, Heartland boasts over 1,800 locations, 2,800 doctors, and 20,000 employees across 38 states. Heartland is not only the largest group in the country but also the fastest growing. They are on pace to add over 100 locations in 2025 through a combination of denovo clinics and acquisitions of existing and successful practices throughout the country. This offering features an absolute NNN lease with just under 10 years of lease term remaining, 10% rent increases in year 6, 11, and in every five-year option period. The property sits within a robust retail corridor that has seen rapid development as a response to the high growth of the Mississippi suburbs of the Memphis MSA.
Investment highlights
- Best In Class Tenant - Heartland is the country's largest network of dental practices with over 1,800 locations, 2,800 doctors, and 20,000 employees. They have consistently added new locations every year since the company was founded in 1995, and currently are growing at nearly 100 locations per year.
- Recession Resistant, $187 Billion Industry - Dentistry is one of the largest industries in healthcare and grows by an average of 5.3% annually. The property features the opportunity to acquire a property within one of the most important areas of healthcare.
- Robust & Growing Retail Corridor - The property sits within an extremely well positioned retail corridor that has sprouted up over the past decade. The intersection of Horn Lake and Goodman Rd sees a combined traffic count of over 35,000 cars per day. Neighboring national retail tenants include Walmart, Kroger, Aldi, Chick-fil-A and Walgreens, among several others.
- High Growth Market Within Memphis MSA - The NW Mississippi suburbs of Memphis have boasted strong growth over the past five years, and the 5-mile area is projected to grow its population by 1.2% annually over the next five years.
- Absolute NNN Lease - Healthcare properties are rarely offered as completely hands off investments with no landlord responsibilities. This lease structure is perfect for any investor looking for a Class-A tenant and property without any expense, management, or maintenance responsibilities.
- Incredible Inflation Hedge - The new 10% rent increase schedule in years 6, 11, and 13 would grow the rent by over 33% by the start of the first option, equating to an average of 3.0% annual rent growth over the next eleven years. This level of rent growth is rarely offered, as most new construction healthcare properties offer provide 10% increases every five years.
- Specialized Use & Tenant Investment in Location - It is highly cost prohibitive for dental practices to relocate due to having one of the highest build-out costs across all medical specialties. Practices tend to stay put due to difficulty in retaining the same patients after moving.
Listing Contacts
Listed by Matthews
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$200,318.00
$16,693.17/mo
Valuation Metrics
0
DSCR
5.65%
Cap Rate
5.65%
ROI
Map
Zoning
PUD PlannedPlanned Unit Development
View municipality zoning documents Upgrade to see the zone description and what's allowed on this property
Upgrade to search and view land use codes
View all 72 uses
View all 72 uses Last updated May 8, 2026 For deeper zoning details, reports are available at Zoneomics
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Title
Is there information that looks off?
