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Heartland Dental 620 Chessie Sta 4,260 SF Retail Building Apex, NC 27502 $3,727,000 ($874.88/SF) 5.20% Cap Rate
Investment Highlights
- NEW CONSTRUCTION IN MIXED USE DEVELOPMENT
- RALEIGH, NC - A TOP PERFORMING MARKET NATIONALLY
- RARE LEASE STRUCTURE
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
- 2024 Total Revenue was over $3B
POSITIONED IN HIGH DEMAND TRADE AREA
- Within a 1-mile radius of the Heartland Dental is more than 857K SF of retail space boasting a 0.5% vacancy rate
- Nearby National Retailers Include: Food Lion, Lidl, Costco Wholesale, Harris Teeter, Academy Sports & Outdoors, and more
HIGHLY AFFLUENT APEX
- Located in Apex, NC which has experienced an 18.25% population growth since 2020
- Surrounding the site within a 1-mile radius the population exceeds 9K people with an AHHI over $150,000
- In a 5-mile radius there are more than 175K potential customers with an AHHI greater than $170,000
NEW CONSTRUCTION IN MIXED USE DEVELOPMENT
- Outparcel to Villages of Apex, a 166 Townhouse Community
- The Building has recently been built to suit the tenant’s specifications
- Tenant has paid to add specific capital improvements to enhance operational performance
RALEIGH, NC - 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
- 2024 Total Revenue was over $3B
POSITIONED IN HIGH DEMAND TRADE AREA
- Within a 1-mile radius of the Heartland Dental is more than 857K SF of retail space boasting a 0.5% vacancy rate
- Nearby National Retailers Include: Food Lion, Lidl, Costco Wholesale, Harris Teeter, Academy Sports & Outdoors, and more
HIGHLY AFFLUENT APEX
- Located in Apex, NC which has experienced an 18.25% population growth since 2020
- Surrounding the site within a 1-mile radius the population exceeds 9K people with an AHHI over $150,000
- In a 5-mile radius there are more than 175K potential customers with an AHHI greater than $170,000
NEW CONSTRUCTION IN MIXED USE DEVELOPMENT
- Outparcel to Villages of Apex, a 166 Townhouse Community
- The Building has recently been built to suit the tenant’s specifications
- Tenant has paid to add specific capital improvements to enhance operational performance
RALEIGH, NC - 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
Retail
Property Subtype
Building Size
4,260 SF
Building Class
B
Year Built
2024
Price
$3,727,000
Price Per SF
$874.88
Cap Rate
5.20%
NOI
$193,827
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
1.00 AC
Zoning
PUD-C
Frontage
625’ on Great Northern Station
Amenities
- Signage
- Signalized Intersection
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Heartland Dental
- Retailer
- 4,260 SF
- -
- Triple Net
- Oct 2036
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Heartland Dental | Retailer | 4,260 SF | - | Triple Net | Oct 2036 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 0742.15-63-6321-000 | Improvements Assessment | $0 |
| Land Assessment | $1,244,433 | Total Assessment | $1,244,433 |
Property Taxes
Parcel Number
0742.15-63-6321-000
Land Assessment
$1,244,433
Improvements Assessment
$0
Total Assessment
$1,244,433
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Heartland Dental | 620 Chessie Sta
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