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Heartland Dental - Champaign, IL 1905 Convenience Pl 3,829 SF Office Building Champaign, IL 61820 $1,749,000 ($456.78/SF) 7.25% Cap Rate
Investment Highlights
- NATION’S LARGEST DENTAL SUPPORT ORGANIZATION
- 2.5% ANNUAL RENT BUMPS - SUPERIOR COMPOUNDING GROWTH
- EDUCATION & HEALTHCARE-DRIVEN ECONOMIC STABILITY
- INDUSTRY-LEADING SCALE & MARKET POSITION
- UNIVERSITY OF ILLINOIS URBANA-CHAMPAIGN
- PURPOSE-BUILT DENTAL FACILITY
Executive Summary
Atlantic Capital Partners has been exclusively engaged to offer for sale Heartland Dental, a 3,829-square-foot net-leased medical asset located at 1905 Convenience Place
in Champaign, Illinois. The property is leased to Heartland Dental, LLC, the nation’s largest dental support organization, under a corporate-guaranteed NN lease with approximately 6.2 years of remaining primary term. The lease features attractive 2.5% annual rental increases throughout the primary term and renewal options, providing investors with contractual income growth and long-term cash flow visibility.
As a purpose-built dental facility, the property occupies a highly visible position along North Neil Street and benefits from strong surrounding retail fundamentals, including nearby Target, Walmart Supercenter, Costco, Kohl’s, Best Buy, Aldi, and numerous national retailers that drive consistent consumer traffic to the corridor.
Located approximately 135 miles south of Chicago, Champaign serves as the economic, educational, and healthcare hub of Central Illinois. Anchored by the University of Illinois Urbana-Champaign, with more than 56,000 enrolled students and a research enterprise exceeding $900 million annually, Heartland Dental offers investors the opportunity to acquire a well-located healthcare asset leased to an industry-leading operator in one of Illinois’ most stable and resilient university-driven markets.
in Champaign, Illinois. The property is leased to Heartland Dental, LLC, the nation’s largest dental support organization, under a corporate-guaranteed NN lease with approximately 6.2 years of remaining primary term. The lease features attractive 2.5% annual rental increases throughout the primary term and renewal options, providing investors with contractual income growth and long-term cash flow visibility.
As a purpose-built dental facility, the property occupies a highly visible position along North Neil Street and benefits from strong surrounding retail fundamentals, including nearby Target, Walmart Supercenter, Costco, Kohl’s, Best Buy, Aldi, and numerous national retailers that drive consistent consumer traffic to the corridor.
Located approximately 135 miles south of Chicago, Champaign serves as the economic, educational, and healthcare hub of Central Illinois. Anchored by the University of Illinois Urbana-Champaign, with more than 56,000 enrolled students and a research enterprise exceeding $900 million annually, Heartland Dental offers investors the opportunity to acquire a well-located healthcare asset leased to an industry-leading operator in one of Illinois’ most stable and resilient university-driven markets.
Property Facts
Sale Type
Investment
Sale Conditions
Property Type
Office
Property Subtype
Medical
Building Size
3,829 SF
Building Class
B
Year Built
2000
Price
$1,749,000
Price Per SF
$456.78
Cap Rate
7.25%
NOI
$126,789
Tenancy
Single
Building Height
1 Story
Typical Floor Size
3,829 SF
Building FAR
0.11
Lot Size
0.77 AC
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Heartland Dental
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- -
- -
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| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Heartland Dental | - | - | - | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 41-20-01-227-002 | Improvements Assessment | $125,330 |
| Land Assessment | $142,270 | Total Assessment | $267,600 |
Property Taxes
Parcel Number
41-20-01-227-002
Land Assessment
$142,270
Improvements Assessment
$125,330
Total Assessment
$267,600
Contacts
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David Hoppe -
Mike Lucier -
Ben Olmstead -
Kendra Doherty -
Atlantic Capital Partners
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