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Heartland Dental 5675 E Bannister Rd 4,200 SF Retail Building Kansas City, MO 64137 $2,772,000 ($660/SF) 6.50% Cap Rate
Investment Highlights
- 10-year corporate net lease featuring 10% rental increases every 5 years
- 2023 build-to-suit construction with 20-year roof warranty in place
- Across the street from new construction Chipotle & Starbucks pads
- Lease signed by tenant’s corporate entity – Heartland Dental, LLC
- Signalized hard corner intersection – 18,000 combined VPD
- Dense residential demographics – 147,000 residents within a 5-mile radius of the subject property
Executive Summary
A corporate Heartland Dental with a 10-year base term lease featuring 10% rental increases every 5 years and 3, 5-year options to extend at matching increases. The subject property is an outparcel to a heavily trafficked Price Chopper location – ranked in the top 16% of grocery stores nationwide in terms of annual visitors (per Placer.ai) – and is down the street from a heavily trafficked Home Depot location – ranked in the top 5% of home improvement stores nationwide (per Placer.ai).
Property Facts Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,200 SF
Building Class
B
Year Built
2023
Price
$2,772,000
Price Per SF
$660
Cap Rate
6.50%
NOI
$180,180
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.22 AC
Zoning
C - Commercial District
Parking
15 Spaces (3.57 Spaces per 1,000 SF Leased)
Nearby Major Retailers
Property Taxes
| Parcel Number | 49-540-01-12-00-0-00-000 | Improvements Assessment | $461,366 |
| Land Assessment | $94,253 | Total Assessment | $555,619 |
Property Taxes
Parcel Number
49-540-01-12-00-0-00-000
Land Assessment
$94,253
Improvements Assessment
$461,366
Total Assessment
$555,619
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Heartland Dental | 5675 E Bannister Rd
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