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Aspen Dental, Lake Havasu City, AZ

Aspen Dental

Lake Havasu City, Arizona

Price $2,291,000
Cap Rate 5.50%
NOI $126,000
Lease Term 10 Years
Lease Type Net, With Tenant Responsible For All Taxes, Insurance, and Maintenance, Excluding Roof, Structure, and Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2021 (Under Construction)
Building Size 3,517 SF
Lot Size 0.66 Acres (28,566 SF)
Status Under Contract
Lead Broker Information Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

10-YEAR NET LEASE WITH CORPORATE GUARANTEE TO FASTGROWING TENANT
» 10-year corporate guaranteed net lease to Aspen Dental
» 10% rental increases every five years and in option periods
» Aspen Dental operates over 900 locations in 43 states
» Aspen Dental is the fastest growing network of independently owned dental practices in the U.S.
» New 2021 construction built to Aspen Dental’s latest prototype

HIGH TRAFFIC LOCATION IN POPULOUS AND AFFLUENT AREA
» Prominently located along State Route 95, a major U.S. Highway in Arizona running through Lake Havasu City (20,347 AADT)
» Beneficial proximity three miles from the Arizona/California borderline and the Colorado River
» Projected 12 percent average annual household income increase within five miles of the site in the next five years, poising Aspen Dental and Lake Havasu City for significant concurrent growth

NEW 2021 BUILD IN DENSE RETAIL CORRIDOR
» Within five miles of two major shopping centers with a combined 867,962 SF of retail space and 45 stores
» Walking distance to The Shops at Lake Havasu shopping mall center featuring JCPenney, Dillard’s, Walmart Supercenter, Pet Smart, Home Depot, Stars Cinema, Bealls Outlet, Kay Jewelers, McDonalds, and more
» 10 miles from Lake Havasu State Park, one of the state’s most visited state parks, which generated $2 million in economic impact in 2018
» Gateway to Lake Havasu City Center, with 835,000 annual visitors and $208.5 million generated in visitor spending, increasing commuter and visitor traffic to the site



Property Description

The property is prominently located along State Highway 95, a major U.S. Highway in Arizona running through Lake Havasu City. This location offers excellent visibility and access to 20,347 vehicles per day within a three-mile area. The location maintains a beneficial proximity three miles from the Arizona/California borderline and the Colorado River. The site is also primed to grow along with the surrounding area, with a projected 12 percent average annual household income increase within five miles of the site in the next five years.

Visibility is increased by the site’s location in a dense retail corridor. The property benefits from being within walking distance of a The Shops at Lake Havasu shopping mall center featuring JCPenney, Dillard’s, Walmart Supercenter, Pet Smart, Home Depot, Stars Cinema, Bealls Outlet, Kay Jewelers, McDonalds, and more. Traffic to the property is increased by the site’s proximity to two major shopping centers within five miles with a combined 867,962 SF of retail space and 45 stores. The site serves as a gateway to Lake Havasu City Center (835,000 annual visitors, $208.5 million generated in visitor spending) and is 10 miles from Lake Havasu State Park one of the state’s top-three most visited state parks, with over 563,000 visitors and more than $2 million earned in fiscal year 2018.

Contact Us About This Property

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