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Westport Dental Care 2074 N NC 16 Business Hwy 4,187 SF Office Building Denver, NC 28037 $3,377,000 ($806.54/SF) 5.20% Cap Rate
INVESTMENT HIGHLIGHTS
- RECENT RENOVATION ON HARD CORNER
- LARGEST DENTAL ORGANIZATION GUARANTY
- CHARLOTTE, NC - A TOP PERFORMING MARKET NATIONALLY
EXECUTIVE SUMMARY
RARE LEASE STRUCTURE
- One of the first Abs. NNN Heartland Dental lease formats
- Zero landlord Responsibilities
- 12 Year lease with four (4) five (5) year extensions
- 10% Rental Increases every 5 years and in extensions
LARGEST DENTAL ORGANIZATION GUARANTY
- Heartland Dental is the largest dental support organization in the United States
- Over 1,800 Locations
- 2024 Total Revenue was over $3B
NEARBY MARKET DRIVERS ON LAKE NORMAN
- Located just 0.4 miles from the site is Denver Christian Academy where more than 125 kids are enrolled
- Located adjacent to Lake Norman - the largest lake in NC and a major vacation attraction, drawing over 6M annual visitors
- Adjacent to Westport Homes, a 237 home residential community
AFFLUENT SURROUNDING DEMOGRAPHICS
- Surrounding the site within a 1-mile radius the population exceeds 3.5K people with an AHHI over $145,000
- In a 5-mile radius there are more than 40K potential customers with an AHHI greater than $160,000
RECENT RENOVATION ON HARD CORNER
- Located on a hard corner of N NC 16 Bus Hwy (13,500 VPD) & Fairfield Forest Dr (5,600 VPD) which provides strong viability and access to the site
- The Building has recently been renovated to suit the tenant’s specifications
- Tenant has paid to add specific capital improvements to enhance operational performance
CHARLOTTE, NC - A TOP PERFORMING MARKET NATIONALLY
- Charlotte, NC ranked #5 in 2022 of best residential markets (Rocket Mortgage)
- Charlotte forecasts a 45.2% job growth over the next 10 years (4.6% growth from 2021 to 2022)
- 5th fastest growing city from 2021 to 2022 (population change: 15,217)
- One of the first Abs. NNN Heartland Dental lease formats
- Zero landlord Responsibilities
- 12 Year lease with four (4) five (5) year extensions
- 10% Rental Increases every 5 years and in extensions
LARGEST DENTAL ORGANIZATION GUARANTY
- Heartland Dental is the largest dental support organization in the United States
- Over 1,800 Locations
- 2024 Total Revenue was over $3B
NEARBY MARKET DRIVERS ON LAKE NORMAN
- Located just 0.4 miles from the site is Denver Christian Academy where more than 125 kids are enrolled
- Located adjacent to Lake Norman - the largest lake in NC and a major vacation attraction, drawing over 6M annual visitors
- Adjacent to Westport Homes, a 237 home residential community
AFFLUENT SURROUNDING DEMOGRAPHICS
- Surrounding the site within a 1-mile radius the population exceeds 3.5K people with an AHHI over $145,000
- In a 5-mile radius there are more than 40K potential customers with an AHHI greater than $160,000
RECENT RENOVATION ON HARD CORNER
- Located on a hard corner of N NC 16 Bus Hwy (13,500 VPD) & Fairfield Forest Dr (5,600 VPD) which provides strong viability and access to the site
- The Building has recently been renovated to suit the tenant’s specifications
- Tenant has paid to add specific capital improvements to enhance operational performance
CHARLOTTE, NC - A TOP PERFORMING MARKET NATIONALLY
- Charlotte, NC ranked #5 in 2022 of best residential markets (Rocket Mortgage)
- Charlotte forecasts a 45.2% job growth over the next 10 years (4.6% growth from 2021 to 2022)
- 5th fastest growing city from 2021 to 2022 (population change: 15,217)
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Building Size
4,187 SF
Building Class
A
Year Built/Renovated
2003/2024
Price
$3,377,000
Price Per SF
$806.54
Cap Rate
5.20%
NOI
$175,612
Tenancy
Single
Building Height
1 Story
Typical Floor Size
4,187 SF
Building FAR
0.06
Lot Size
1.51 AC
Zoning
ELDD B-G
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Heartland Dental
- Retailer
- 4,187 SF
- -
- Triple Net
- Apr 2036
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Heartland Dental | Retailer | 4,187 SF | - | Triple Net | Apr 2036 |
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PROPERTY TAXES
| Parcel Number | 71128 | Improvements Assessment | $1,044,459 |
| Land Assessment | $568,500 | Total Assessment | $1,612,959 |
PROPERTY TAXES
Parcel Number
71128
Land Assessment
$568,500
Improvements Assessment
$1,044,459
Total Assessment
$1,612,959
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Westport Dental Care | 2074 N NC 16 Business Hwy
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