Heartland Dental | 8644 Addison Place Dr
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Heartland Dental 8644 Addison Place Dr
4,260 SF Office Building Naples, FL 34119 £2,434,984 (£572/SF) 5.75% Net Initial Yield
Investment Highlights
- Leased to Heartland Dental for 10 years plus four (4) five-year options
- Heartland Dental, LLC is the largest dental support organization in the U.S., with more than 1,700 supported dental offices located in 38 states
- Heartland Dental continues impressive national growth with more than 87 new locations opened in 2022
- 10% fixed rental increases every five years in initial term and extension terms
- Heartland Dental is majority owned by KKR, the largest global investment company in the world with over $496 billion under management
- 2021 construction built to Heartland Dental’s latest prototype
Executive Summary
New 2021 construction, in a development that also includes Chick-fil-A and Aldi. Prominent visibility from Immokalee Road and exposure to 54,500 vehicles per day directly in front of the property. Located in an affluent area with an average annual household income of $149,257 within three miles of the site. Average annual household income is projected to grow by more than 17% within 1-, 3-, and 5-mile radii over the next five years
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Office
Property Subtype
Building Size
4,260 SF
Building Class
B
Year Built
2021
Price
£2,434,984
Price Per SF
£572
Net Initial Yield
5.75%
NOI
£139,996
Tenancy
Single
Number of Floors
1
Typical Floor Size
4,260 SF
Building FAR
0.17
Land Acres
0.57 AC
Zoning
Commercial
Parking
21 Spaces (4.93 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 21842600142 | Improvements Assessment | £834,344 |
| Land Assessment | £498,676 | Total Assessment | £1,333,019 |
PROPERTY TAXES
Parcel Number
21842600142
Land Assessment
£498,676
Improvements Assessment
£834,344
Total Assessment
£1,333,019
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Power Broker Michael Yuras -
Power Broker Ryan Forsyth -
Jack Hinson -
Power Broker Scott Crowle -
Power Broker Vincent Aicale -
Cushman & Wakefield
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Heartland Dental | 8644 Addison Place Dr
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