Heartland Dental 2271 FM 663 4,260 SF Retail Building Midlothian, TX 76065 $4,183,000 ($981.92/SF) 5% Cap Rate
INVESTMENT HIGHLIGHTS
- GREAT VISIBILITY ON HIGH TRAFFICKED RETAIL CORRIDOR
- POSITIONED NEAR MAJOR CONSUMER DRIVERS
- LARGEST DENTAL ORGANIZATION GUARANTY
EXECUTIVE SUMMARY
RARE LEASE STRUCTURE
- One of the first Abs. NNN Leased Heartland Dentals
- Zero landlord responsibilities
- 12 Years lease with four (4) five (5) year extensions
- 10% rental Increases every 5 years and in option periods
LARGEST DENTAL ORGANIZATION GUARANTY
- Heartland Dental is the largest dental support organization in the United States
- Over 1,800 Locations
- 2023 Total Revenue was $3B
DALLAS-FORT WORTH MSA
- Dallas-Fort Worth-Arlington, TX MSA is the fourth most populous MSA in the Country at over 8 Million people
- Per the U.S. Census Bureau, the Dallas-Fort Worth MSA is the fastest growing metro area in the Country
- According to a report by Henley and Partners, the Dallas-Fort Worth area was the 18th wealthiest city in the world in 2022
NEW CONSTRUCTION
- The Building has recently been built to suit the tenant’s specifications
- Tenant has paid to add specific capital improvements to enhance operational performance
POSITIONED NEAR MAJOR CONSUMER DRIVERS
- Site is surrounded by schools and universities
- Located under half a mile is Navarro College - Midlothian, 1,000+ students and almost 5,000 employees
- Just under a mile from Jean Coleman Elementary School with 600+ students and Methodist Midlothian Medical Center, a $90 million dollar facility with 80+ beds
GREAT VISIBILITY ON HIGH TRAFFICKED RETAIL CORRIDOR
- Fronting FM 663 (32,053 AADT) and approximately a quarter mile to Hwy 287 (62K AADT)
- Over 483K SF of retail space within a 1-mile radius boasting a 1.1% vacancy rate (costar data)
- Nearby National Tenants include: Kroger Marketplace, Aldi, Petco, Ross Dress for Less, and more
- One of the first Abs. NNN Leased Heartland Dentals
- Zero landlord responsibilities
- 12 Years lease with four (4) five (5) year extensions
- 10% rental Increases every 5 years and in option periods
LARGEST DENTAL ORGANIZATION GUARANTY
- Heartland Dental is the largest dental support organization in the United States
- Over 1,800 Locations
- 2023 Total Revenue was $3B
DALLAS-FORT WORTH MSA
- Dallas-Fort Worth-Arlington, TX MSA is the fourth most populous MSA in the Country at over 8 Million people
- Per the U.S. Census Bureau, the Dallas-Fort Worth MSA is the fastest growing metro area in the Country
- According to a report by Henley and Partners, the Dallas-Fort Worth area was the 18th wealthiest city in the world in 2022
NEW CONSTRUCTION
- The Building has recently been built to suit the tenant’s specifications
- Tenant has paid to add specific capital improvements to enhance operational performance
POSITIONED NEAR MAJOR CONSUMER DRIVERS
- Site is surrounded by schools and universities
- Located under half a mile is Navarro College - Midlothian, 1,000+ students and almost 5,000 employees
- Just under a mile from Jean Coleman Elementary School with 600+ students and Methodist Midlothian Medical Center, a $90 million dollar facility with 80+ beds
GREAT VISIBILITY ON HIGH TRAFFICKED RETAIL CORRIDOR
- Fronting FM 663 (32,053 AADT) and approximately a quarter mile to Hwy 287 (62K AADT)
- Over 483K SF of retail space within a 1-mile radius boasting a 1.1% vacancy rate (costar data)
- Nearby National Tenants include: Kroger Marketplace, Aldi, Petco, Ross Dress for Less, and more
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,260 SF
Year Built
2024
Price
$4,183,000
Price Per SF
$981.92
Cap Rate
5%
NOI
$209,151
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
2.05 AC
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Heartland Dental
- Administrative and Support Services
- 4,260 SF
- -
- Triple Net
- Sep 2036
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Heartland Dental | Administrative and Support Services | 4,260 SF | - | Triple Net | Sep 2036 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 194388 | Improvements Assessment | $0 |
| Land Assessment | $1,160,931 | Total Assessment | $1,160,931 |
CONTACTS
-
David Hoppe -
Ben Olmstead -
Ben McCarter -
Atlantic Capital Partners
