Join Our Email List

x
Email Capture
Sending
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

Submit Your 1031 Exchange Requirements

x
1031 Exchange
Sending

Heartland Dental, St. Cloud, FL

Heartland Dental

St. Cloud, FL

Price $2,568,000
Cap Rate 6.00%
NOI $154,080
Lease Term 10 Years
Lease Type Net, with Tenant Responsible for Taxes, Insurance, and Maintenance, Excluding Roof and Structure
Rental Increases 10% Rental Increases Every 5 Years
Year Built 2018
Building Size 4,280 SF
Lot Size 0.62 Acres (27,120 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Cushman and Wakefield Inc. LIC. # 00616335
This property is listed in conjunction with Florida-licensed real estate broker Cushman & Wakefield, Inc.

Investment Highlights

NEW 10-YEAR NET LEASE WITH SCHEDULED RENTAL INCREASES
» Leased to Heartland Dental for ten years plus three five-year options
» 10% fixed rental increases every five years in initial term and extension terms, providing a hedge against inflation

HIGH-TRAFFIC LOCATION ON MAJOR COMMERCIAL THOROUGHFARE
» Just off of the signalized intersection of U.S. Highway 192 and South Narcoossee Road, with excellent visibility and access to 49,400 vehicles per day
» U.S. Highway 192 is the main route through St. Cloud and serves as the city’s primary retail corridor
» Outparcel to St. Cloud Plaza, anchored by Winn-Dixie and featuring notable tenants like Taco Bell, Verizon, and Subway
» Directly across from the Publix-anchored Narcoossee Shoppes, tenanted by Walgreens, MetroPCS, Pizza Hut, and Great Clips
» Minutes from large shopping centers and major national retailers, including Walmart Supercenter, Home Depot, Save-A-Lot, Tractor Supply, and Big Lots, amongst others

STRONG CUSTOMER BASE IN RAPIDLY GROWING COMMUNITY
» Near several residential communities that are planned or under construction, including Center Lake Ranch (2,201 single family and 1,172 multi-family homes), Twin Lakes (2,000 attached and single family homes), Live Oak Lake (329 homes), and Lancaster Park East (461 homes)
» Approximately 8,000 new residential units are planned or under construction within a three-mile radius of the property
» Between 2010 and 2018, the population grew by approximately 22% within three miles of the property and more than 30% within five miles
» Current projections predict that the population within one-, three-, and five-mile radii will increase approximately 16% between 2018 and 2023

NEW 2018 CONSTRUCTION
» High-quality construction expected to be completed in late 2018
» Features latest Heartland Dental store designs and concepts
» New building, limiting near-term deferred maintenance or capital costs

Click Here to Download Offering Memorandum


Property Description

The property is outparcel to St. Cloud Plaza, which is strategically located at the signalized intersection of U.S. Highway 192 and South Narcoossee Road, with excellent visibility and access to 49,400 vehicles per day. St. Cloud Plaza is anchored by Winn-Dixie and features notable tenants like Taco Bell, Verizon, and Subway. The property is also directly across from the Publix-anchored Narcoossee Shoppes, tenanted by Walgreens, MetroPCS, Pizza Hut, Great Clips, and more. U.S. Highway 192 is St. Cloud’s primary retail corridor, and the property is minutes from large shopping centers and major national retailers, including Walmart Supercenter, Home Depot, Save-A-Lot, Tractor Supply, and Big Lots. Other notable tenants within the property’s immediate vicinity include Dunkin’ Donuts, Dollar General, Goodwill, 7-Eleven, and Advance Auto Parts.

The property is centrally located within a rapidly growing area. The property is surrounded by residential neighborhoods, and significant future residential development is planned nearby. The property is a short distance from several residential communities that are planned or under construction, including Center Lake Ranch (2,201 single family and 1,172 multi-family homes), Twin Lakes (2,000 attached and single-family homes), Live Oak Lake (329 homes), and Lancaster Park East (461 homes). In total, approximately 8,000 new residential units are planned or under construction within a three-mile radius of the property. Between 2010 and 2018, the population grew by approximately 22% within three miles of the property and more than 30% within five miles. Current projections predict that the population within one-, three-, and five-mile radii will increase approximately 16% between 2018 and 2023, providing a large customer base.

Contact Us About This Property

Mike & Scott Form
Sending
JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link