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Heartland Dental 2820 N Green River Rd 4,213 SF Office Building Evansville, IN 47715 $3,262,000 ($774.27/SF) 5.35% Cap Rate
INVESTMENT HIGHLIGHTS
- Recently signed 12 year lease with Heartland Dental, the largest DSO in the country, operating over 1,800 locations across 38 states.
- he property is situated off of N. Green River Rd (25,000 VPD) and benefits from anchors Menards and Meijer, as well as having Schnucks, McDonalds, etc
- The property was built in 2023 featuring Heartland Dental’s current prototype building and high end design.
- he tenant is responsible for all maintenance and operating expenses providing completely passive ownership.
- he lease calls for two primary term rent increases (years 6 & 11) with escalations in each option period
- The site is strategically positioned within a 7 minute drive of two I-69 interchanges, providing easy access for local and commuting patients.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
4,213 SF
Building Class
B
Year Built
2023
Price
$3,262,000
Price Per SF
$774.27
Cap Rate
5.35%
NOI
$174,517
Tenancy
Single
Building Height
1 Story
Typical Floor Size
4,213 SF
Building FAR
0.10
Lot Size
0.99 AC
1 1
PROPERTY TAXES
| Parcel Number | 82-06-14-015-187.003-027 | Improvements Assessment | $187,100 |
| Land Assessment | $280,000 | Total Assessment | $467,100 |
PROPERTY TAXES
Parcel Number
82-06-14-015-187.003-027
Land Assessment
$280,000
Improvements Assessment
$187,100
Total Assessment
$467,100
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Heartland Dental | 2820 N Green River Rd
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