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Swift Creek Dental Care 2920 Jones Franklin Rd 3,758 SF Office Building Raleigh, NC 27606 $3,830,000 ($1,019.16/SF) 5.20% Cap Rate
Investment Highlights
- A TOP PERFORMING MARKET NATIONALLY
- WELL POSITIONED IN A HEALTHY RETAIL NODE
- LARGEST DENTAL ORGANIZATION GUARANTY
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
- 2023 Total Revenue was $3B
HIGH GROWTH AND AFFLUENT TRADE AREA
- Over 7k people live within 1-mile of the site with an AHHI of $130K+ and a population growth of 1.7% annually
- Within the 1,3,and 5 mile radiuses the average household income exceeds 100K which is significantly above the national average
WELL POSITIONED IN A HEALTHY RETAIL NODE
- The site is located at a lighted intersection in a top performing trade area
- Over 1.4MSF of retail space in a 1-mile radius with a vacancy rate of under 0.5%
- Nearby national retailers include: Kohl’s, Best Buy, Target, The Home Depot, Marshalls, Lowe’s Homes Improvement, and much more
RECENT RENOVATIONS
- The Building has recently been built to suit the tenant’s need
- Warranties in place
A TOP PERFORMING MARKET NATIONALLY
- Raleigh, NC ranked #3 in 2023 of best residential markets (Rocket Mortgage)
- Raleigh forecasts a 44% job growth over the next 10 years (3.0% growth from 2021 to 2022)
- Raleigh ranked #3 in best places to live for 2023-2024 (U.S. News)
- 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
- 2023 Total Revenue was $3B
HIGH GROWTH AND AFFLUENT TRADE AREA
- Over 7k people live within 1-mile of the site with an AHHI of $130K+ and a population growth of 1.7% annually
- Within the 1,3,and 5 mile radiuses the average household income exceeds 100K which is significantly above the national average
WELL POSITIONED IN A HEALTHY RETAIL NODE
- The site is located at a lighted intersection in a top performing trade area
- Over 1.4MSF of retail space in a 1-mile radius with a vacancy rate of under 0.5%
- Nearby national retailers include: Kohl’s, Best Buy, Target, The Home Depot, Marshalls, Lowe’s Homes Improvement, and much more
RECENT RENOVATIONS
- The Building has recently been built to suit the tenant’s need
- Warranties in place
A TOP PERFORMING MARKET NATIONALLY
- Raleigh, NC ranked #3 in 2023 of best residential markets (Rocket Mortgage)
- Raleigh forecasts a 44% job growth over the next 10 years (3.0% growth from 2021 to 2022)
- Raleigh ranked #3 in best places to live for 2023-2024 (U.S. News)
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
3,758 SF
Building Class
A
Year Built
2007
Price
$3,830,000
Price Per SF
$1,019.16
Cap Rate
5.20%
NOI
$199,174
Tenancy
Single
Building Height
1 Story
Typical Floor Size
3,758 SF
Building FAR
0.10
Lot Size
0.84 AC
Zoning
OIM - Office
Parking
37 Spaces (9.85 Spaces per 1,000 SF Leased)
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Heartland Dental
- Retailer
- 3,758 SF
- -
- Triple Net
- Apr 2036
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Heartland Dental | Retailer | 3,758 SF | - | Triple Net | Apr 2036 |
1 1
Property Taxes
| Parcel Number | 0772.11-75-1925-000 | Improvements Assessment | $913,417 |
| Land Assessment | $792,701 | Total Assessment | $1,706,118 |
Property Taxes
Parcel Number
0772.11-75-1925-000
Land Assessment
$792,701
Improvements Assessment
$913,417
Total Assessment
$1,706,118
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Swift Creek Dental Care | 2920 Jones Franklin Rd
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