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Heartland Dental & Caribou | Waxhaw, NC 3218 S Providence Rd 6,000 SF 100% Leased Retail Building Waxhaw, NC 28173 $4,850,000 ($808.33/SF) 6% Cap Rate
Investment Highlights
- DENSE RETAIL NODE
- STRONG CREDIT TENANTS
- ATTRACTIVE LEASE FUNDAMENTALS
Executive Summary
ATTRACTIVE LEASE FUNDAMENTALS
- Each Tenant has signed a new 10 years Lease and are corporate guarantees
- Both leases have 2+ options remaining
- Each lease provides 10% rental increases every 5 years in the base term and option periods providing a strong inflation hedge
STRONG CREDIT TENANTS
- Heartland Dental (1,800+ Locations)
- Caribou Coffee (over 800 locations globally, part of Panera Brands backed by JAB Holding)— providing strong institutional backing and enhancing investment stability
- Together, these tenants deliver a low risk of default and stabilized cash flow
DENSE RETAIL NODE
- Located along Providence Rd, a heavily trafficked corridor with strong visibility
- Within a 1 mile radius is over 435K SF of retail space and a dense mix of grocery, QSR, and service oriented retail including Publix, Walgreens, and Harris Teeter
- The property benefits from high daily traffic counts and established co-tenancy in the trade area
SURROUNDED BY THOUSANDS OF NEW RESIDENTIAL UNITS
- Over 6,500 new housing units are planned or recently delivered within a 3-mile radius
- Waxhaw is one of the fastest-growing suburbs in the Charlotte MSA, attracting young families and professionals
- Strong residential demand supports steady retail traffic and tenant performance with an AHHI within a 1-mile radius of the site exceeding $179K
AFFLUENT MARKET OF CHARLOTTE MSA
- This site resides within the rapidly expanding Charlotte–Concord–Gastonia MSA, one of the fastest-growing metro areas in the U.S.
- Rapidly expanding town of Waxhaw, NC
- AHHI exceeds $160K in a 1-mile radius
- The Charlotte metro has surged by approximately 8.1 % since 2020, reaching around 2.88 million residents, well above the national growth rate of 2.6 %
NEW CONSTRUCTION
- This multi-tenant property is newly constructed with modern formats
- Heartland Dental paid for its build-out with warranties in place
- Caribou Coffee features a high-traffic drive-thru format designed for efficiency and convenience
- Each Tenant has signed a new 10 years Lease and are corporate guarantees
- Both leases have 2+ options remaining
- Each lease provides 10% rental increases every 5 years in the base term and option periods providing a strong inflation hedge
STRONG CREDIT TENANTS
- Heartland Dental (1,800+ Locations)
- Caribou Coffee (over 800 locations globally, part of Panera Brands backed by JAB Holding)— providing strong institutional backing and enhancing investment stability
- Together, these tenants deliver a low risk of default and stabilized cash flow
DENSE RETAIL NODE
- Located along Providence Rd, a heavily trafficked corridor with strong visibility
- Within a 1 mile radius is over 435K SF of retail space and a dense mix of grocery, QSR, and service oriented retail including Publix, Walgreens, and Harris Teeter
- The property benefits from high daily traffic counts and established co-tenancy in the trade area
SURROUNDED BY THOUSANDS OF NEW RESIDENTIAL UNITS
- Over 6,500 new housing units are planned or recently delivered within a 3-mile radius
- Waxhaw is one of the fastest-growing suburbs in the Charlotte MSA, attracting young families and professionals
- Strong residential demand supports steady retail traffic and tenant performance with an AHHI within a 1-mile radius of the site exceeding $179K
AFFLUENT MARKET OF CHARLOTTE MSA
- This site resides within the rapidly expanding Charlotte–Concord–Gastonia MSA, one of the fastest-growing metro areas in the U.S.
- Rapidly expanding town of Waxhaw, NC
- AHHI exceeds $160K in a 1-mile radius
- The Charlotte metro has surged by approximately 8.1 % since 2020, reaching around 2.88 million residents, well above the national growth rate of 2.6 %
NEW CONSTRUCTION
- This multi-tenant property is newly constructed with modern formats
- Heartland Dental paid for its build-out with warranties in place
- Caribou Coffee features a high-traffic drive-thru format designed for efficiency and convenience
Property Facts
Sale Type
Investment NNN
Property Type
Building Size
6,000 SF
Building Class
B
Year Built
2025
Construction Status
Proposed
Price
$4,850,000
Price Per SF
$808.33
Cap Rate
6%
NOI
$291,000
Percent Leased
100%
Building Height
1 Story
Building FAR
0.13
Lot Size
1.07 AC
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Caribou Coffee
- Retailer
- 2,200 SF
- -
- Oct 2035
- Heartland Dental
- Health Care and Social Assistance
- 3,800 SF
- -
- Oct 2035
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Caribou Coffee | Retailer | 2,200 SF | - | Oct 2035 | ||
| Heartland Dental | Health Care and Social Assistance | 3,800 SF | - | Oct 2035 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 06-162-005-W | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $4,319,500 |
Property Taxes
Parcel Number
06-162-005-W
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$4,319,500
Contacts
-
David Hoppe -
Mike Lucier -
Ben Olmstead -
Ben McCarter -
Connor Kuchman -
Atlantic Capital Partners
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Heartland Dental & Caribou | Waxhaw, NC | 3218 S Providence Rd
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