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Heartland Dental 2139 Del Prado Blvd S 4,558 SF Office Building Cape Coral, FL 33990 $3,312,000 ($726.63/SF) 5.15% Cap Rate
Investment Highlights
- Brand-new 10-year absolute NNN lease extension featuring 10% rental increases every 5 years
- Hard corner positioning exposed to 52,000 vehicles per day in a dense, high income area
- Large 1.21 acre lot
- Lease signed by tenant’s corporate entity – Heartland Dental, LLC
- Tenant pays all common area maintenance directly
- No Use Restrictions - Standalone parcel that is not subject to CC&R’s of adjacent shopping center
Executive Summary
A corporate Heartland Dental with a 10-year base term featuring 10% rental increases every 5 years and four, 5-year extension options at the same increases. The subject property serves as an outparcel to Coralwood Shopping Center, a 1.5M SF center that had over 2.2M visitors in the past 12 months, per Placer.ai.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
4,558 SF
Building Class
C
Year Built/Renovated
1979/2022
Price
$3,312,000
Price Per SF
$726.63
Cap Rate
5.15%
NOI
$170,560
Tenancy
Single
Building Height
1 Story
Typical Floor Size
4,558 SF
Building FAR
0.09
Lot Size
1.21 AC
Zoning
C1-D - Commercial District
Parking
20 Spaces (3.16 Spaces per 1,000 SF Leased)
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Property Taxes
| Parcel Number | 29-44-24-C4-05385.0330 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,089,000 |
Property Taxes
Parcel Number
29-44-24-C4-05385.0330
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,089,000
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Heartland Dental | 2139 Del Prado Blvd S
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