

Aspen Dental
9.5 Years Base Rent Remaining I 6.00% Cap
Marketing description
Collison Capital is pleased to present for sale a fee simple, double-net (NN) leased Aspen Dental investment opportunity prominently situated along E. Gulf to Lake Highway in Inverness, Florida, the primary regional transportation artery serving Citrus County. Constructed in 2015, the 3,750 square foot freestanding building is ideally positioned as an outparcel to the 238,000 square foot Citrus Center, anchored by TJ Maxx, providing exceptional visibility, superior access, and sustained consumer traffic throughout the lease term.
Aspen Dental recently exercised a base term extension, resulting in 9.5 years of remaining base term with 5% rental escalation in Year 5 and three five-year renewal options, each with 8% increases, providing investors with a built-in hedge against inflation and meaningful long term upside. The double-net lease structure features minimal landlord responsibilities, a corporate guarantee from Aspen Dental Management, Inc. (ADMI), and no termination, purchase, or right of first refusal provisions, offering a clean, passive investment profile.
The subject property benefits from outstanding retail co-tenancy, with national operators including McDonald's (adjacent), Olive Garden, Ruby Tuesday, Walmart, Lowe's, Wells Fargo, and Dunkin' having established E. Gulf to Lake Highway as Citrus County's preeminent retail corridor. With general retail availability along the corridor measuring just 4.3%, the market reflects strong occupancy fundamentals and durable long-term demand for well-located retail real estate.
Investment highlights
- Well-positioned outparcel Aspen Dental within 238K SF shopping center.
- Excellent visibility along busy Gulf to Lake Highway (30K+ cars per day)
- 2015 construction with significant tenant build-out and established operating history
- Lease includes corporate guarantee and favorable 8% rent increases at each option period to serve as inflation hedge
- Neighboring outparcel retail includes McDonald’s (adjacent), BBVA Bank, Shell, Wells Fargo, Wendy’s, and Dunkin Donuts
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