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Heartland Dental 3911 Challenger Ave 4,260 SF Retail Building Roanoke, VA 24012 $3,645,000 ($855.63/SF) 5.35% Cap Rate
Investment Highlights
- LARGEST DENTAL ORGANIZATION GUARANTY
- HARD-CORNERED SITE
- NEW CONSTRUCTION IN A HIGH TRAFFICKED CORRIDOR
Executive Summary
ABS. NNN 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 | 2024 Total Revenue was over $3B
HARD-CORNERED SITE
- Prominent hard-corner positioning at the signalized intersection of Challenger Ave (Route 460) and Carson Rd
- Excellent access and visibility to over 34,000 vehicles per day
POSITIONED IN DENSE RETAIL NODE
- Within a 1-mile radius of the site is more than 491K SF of retail space
- Vacancy Rate within that radius is 0.3%
- Nearby national retailers include: Kroger, Lowe’s Home Improvement, Walmart Supercenter, and more
NEW CONSTRUCTION IN A HIGH TRAFFICKED CORRIDOR
- The Building has recently been constructed to suit the tenant’s need
- Site is positioned off of busy SR 64 E (31K VPD)
HIGH GROWTH ROANOKE-DANVILLE-LYNCHBURG, MSA
- The Roanoke–Danville–Lynchburg regional market is forecasted to grow ~1.8% over the next 5 years (from ~1,139,848 to ~1,160,033)
- Roanoke MSA population ~315,749 in 2024
- Lynchburg MSA’s median household income has risen steadily, now ~$67,782
- The combined corridor is seeing reinvestment and expansion in retail, medical, and residential sectors as the geographic crossroads between two growth hubs of southern/central Virginia
- 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 | 2024 Total Revenue was over $3B
HARD-CORNERED SITE
- Prominent hard-corner positioning at the signalized intersection of Challenger Ave (Route 460) and Carson Rd
- Excellent access and visibility to over 34,000 vehicles per day
POSITIONED IN DENSE RETAIL NODE
- Within a 1-mile radius of the site is more than 491K SF of retail space
- Vacancy Rate within that radius is 0.3%
- Nearby national retailers include: Kroger, Lowe’s Home Improvement, Walmart Supercenter, and more
NEW CONSTRUCTION IN A HIGH TRAFFICKED CORRIDOR
- The Building has recently been constructed to suit the tenant’s need
- Site is positioned off of busy SR 64 E (31K VPD)
HIGH GROWTH ROANOKE-DANVILLE-LYNCHBURG, MSA
- The Roanoke–Danville–Lynchburg regional market is forecasted to grow ~1.8% over the next 5 years (from ~1,139,848 to ~1,160,033)
- Roanoke MSA population ~315,749 in 2024
- Lynchburg MSA’s median household income has risen steadily, now ~$67,782
- The combined corridor is seeing reinvestment and expansion in retail, medical, and residential sectors as the geographic crossroads between two growth hubs of southern/central Virginia
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
4,260 SF
Building Class
C
Year Built
1997
Price
$3,645,000
Price Per SF
$855.63
Cap Rate
5.35%
NOI
$194,999
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.92 AC
Zoning
C2C
Parking
17 Spaces (5.98 Spaces per 1,000 SF Leased)
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Heartland Dental
- Health Care and Social Assistance
- 4,260 SF
- -
- Oct 2036
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Heartland Dental | Health Care and Social Assistance | 4,260 SF | - | Oct 2036 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 050.01-01-02.04-0000 | Improvements Assessment | $289,500 |
| Land Assessment | $225,400 | Total Assessment | $514,900 |
Property Taxes
Parcel Number
050.01-01-02.04-0000
Land Assessment
$225,400
Improvements Assessment
$289,500
Total Assessment
$514,900
Contacts
-
David Hoppe -
Ben Olmstead -
Connor Kuchman -
Ben McCarter -
Atlantic Capital Partners
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Heartland Dental | 3911 Challenger Ave
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