Heartland Dental Summerfield,Florida

$3,180,000
Available
Property type:Single-Tenant Net Lease

The space

  • Price: $3,180,000
  • Cap Rate: 5.00%
  • Rentable Square Feet: 4,676
  • Annual Rent: $158,984
  • Price PSF: $680.07
  • Lease Type: NN
  • Lease Term: 10 Years
  • Rent Increases: 10% Every 5 Years
  • Lease Expiration: 12/31/2031 est

Description

17801 SE 109th Avenue
Summerfield, FL 34491

Investment Highlights

  • Brand New, 10-Year, Corporate Lease With Full Term Remaining; Three, Five-Year Tenant Renewal Options
  • Located Outside the Main Entrance for The Villages, the Largest Single-Site Residential Real Estate Development in the United States & America’s Top-Selling, Master Planned Community for Active Adults
  • 10 Percent Rent Increases Every Five Years Throughout Base Term and Option Periods
  • Heartland Dental’s Parent Company, KKR, is a Leading Investment Firm With Approx $207 Billion in Assets Under Management
  • Off U.S. Highway 27/441 With a Traffic Count of More Than 37,500 Vehicles Daily
  • Surrounding National Retailers Include Walmart Supercenter, Lowes, Home Depot, Publix, Aldi, Winn Dixie, Staples, Ross, TJ Maxx, Beall’s, Office Depot, Mattress Firm, Cracker Barrel, Chili’s, Applebee’s, Outback Steakhouse, Sonic, Pizza Hut, Denny’s, Dunkin Donuts, McDonald’s, Pizza Hut, Wawa, Walgreens, CVS, Wells Fargo, Chase Bank, AT&T, Verizon and Many More

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Heartland Dental in Summerfield, Florida. This is a brand new, 10-year, corporate lease with the full term remaining. This lease offers three, five-year tenant renewal options and 10 percent rent increases every five years throughout base term and option periods. The property is currently undergoing a remodel with estimated opening of January 5, 2022.

Heartland Dental is conveniently located outside the main entrance for The Villages, the largest single-site residential real estate development in the United States. It is also just 1.5 miles from UF Health the Villages Hospital, a 307-bed acute care hospital serving residents of The Villages and Lake, Sumter and Marion counties 2002. The Villages ranks as America’s top-selling, master planned community for active adults 55 and over with a population that grows by approximately 4,500 annually. The Villages is also home to one of the highest concentrations of veterans of any community in the nation – between 19,000 and 20,000 veterans call the villages home.

Surrounding national retailers include Walmart Supercenter, Lowe’s, Home Depot, Publix, Aldi, Winn Dixie, Staples, Ross, TJ Maxx, Beall’s, Office Depot, Mattress Firm, Cracker Barrel, Chili’s, Applebee’s, Outback Steakhouse, Sonic, Pizza Hut, Denny’s, Dunkin Donuts, McDonald’s, Pizza Hut, Wawa, Walgreens, CVS, Wells Fargo, Chase Bank, AT&T, Verizon and many more. The subject property is 19 miles south of Ocala, 60 miles northwest of Orlando, and 87 miles north of Tampa.

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