Investment Highlights
- Brand New, 10-Year Lease With Full Term Remaining
- Brand New Location Currently Finishing Construction
- 20-Year Roof Warranty that Will be Transferred to a Buyer at Closing
- Two, Five-Year Tenant Renewal Options with 10 Percent Rent Increases Every Five Years Throughout Base Term and Option Periods
- Aspen Dental Management, Inc. is One of the Largest and Fastest Growing Providers of Dental Care Services in the United States with More Than 1,000 Offices (and Growing) Across 44 States and More Than 75 Aspen Dental-Branded Practices are Expected to Open Every Year
- Access and Visibility to More Than 20,500 Vehicles Daily on State Road 19, Which Connects Palatka North to Jacksonville and South Nearly to Orlando
- Close Proximity to Highway 17 With a Daily Traffic Count of More Than 27,500 Vehicles
- Located in Palatka’s Busy Retail Corridor, Surrounding National Retailers Include Walmart Supercenter, The Home Depot, Lowes, Publix Supermarket, Winn-Dixie, Planet Fitness, Five Below, Marshall’s, Hibbett Sports, Beall’s Outlet, Buddy’s Home Furnishings, Staples, Harbor Freight Tools, Dollar General, Dollar Tree, Chili’s Grill & Bar, LongHorn Steakhouse, Burger King, Taco Bell, Pizza Hut, KFC, Popeyes, AT&T, Verizon, TD Bank, Advance Auto Parts, CVS, Walgreens and Many More
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire an Aspen Dental located in Palatka, FL. This brand-new location, currently finishing construction, offers a new long-term lease with a 10-year term and two additional five-year tenant renewal options. Rent increases of 10 percent will occur every five years during both the base term and option periods. Additionally, the property includes 20-year roof warranty transferable to the buyer at closing.
Aspen Dental Management, Inc. is a prominent provider of dental care services in the United States and is recognized for its substantial growth. The company currently operates more than 1,000 offices across 44 states and is continuing to expand its footprint with the expectation of opening over 75 new Aspen Dental-branded practices annually.
The property is located off State Road 19, with over 20,500 vehicles passing daily, which serves as a critical thoroughfare connecting Palatka north to Jacksonville and extending southward toward Orlando. Additionally, its proximity to Highway 17 draws over 27,500 vehicles daily. Situated within Palatka’s bustling retail corridor, the property enjoys a high-visibility position among prominent national retailers such as Walmart Supercenter, The Home Depot, Lowes, Publix Supermarket, Planet Fitness, and numerous others.
The property is located in Palatka, Florida, within close proximity to various educational institutions and essential amenities. Less than one mile away stands St. Johns River State College’s Palatka Campus, with an enrollment of 6,828 students, as well as Palatka Jr.-Sr. High School, serving 1,661 students. Within a mile, Saint Leo University, the largest Catholic higher education institution in the state, boasts an enrollment of nearly 10,000 students. The property is also situated less than two miles from HCA Florida Putnam Hospital, a 99-bed acute care facility. Additionally, the property is located two miles from Palatka Municipal Airport, three miles from Ravine Gardens State Park, and Riverfront Park and Boathouse Marina.
