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Westport Dental Care 2074 N NC 16 Business Hwy 4,187 sq ft Office Property Denver, NC 28037 £2,502,121 (£597.59/sq ft) 5.20% Net Initial Yield
INVESTMENT HIGHLIGHTS
- RECENT RENOVATION ON HARD CORNER
- LARGEST DENTAL ORGANIZATION GUARANTY
- CHARLOTTE, NC - A TOP PERFORMING MARKET NATIONALLY
EXECUTIVE SUMMARY
RARE LEASE STRUCTURE
- One of the first Abs. NNN Heartland Dental lease formats
- Zero landlord Responsibilities
- 12 Year lease with four (4) five (5) year extensions
- 10% Rental Increases every 5 years and in extensions
LARGEST DENTAL ORGANIZATION GUARANTY
- Heartland Dental is the largest dental support organization in the United States
- Over 1,800 Locations
- 2024 Total Revenue was over $3B
NEARBY MARKET DRIVERS ON LAKE NORMAN
- Located just 0.4 miles from the site is Denver Christian Academy where more than 125 kids are enrolled
- Located adjacent to Lake Norman - the largest lake in NC and a major vacation attraction, drawing over 6M annual visitors
- Adjacent to Westport Homes, a 237 home residential community
AFFLUENT SURROUNDING DEMOGRAPHICS
- Surrounding the site within a 1-mile radius the population exceeds 3.5K people with an AHHI over $145,000
- In a 5-mile radius there are more than 40K potential customers with an AHHI greater than $160,000
RECENT RENOVATION ON HARD CORNER
- Located on a hard corner of N NC 16 Bus Hwy (13,500 VPD) & Fairfield Forest Dr (5,600 VPD) which provides strong viability and access to the site
- The Building has recently been renovated to suit the tenant’s specifications
- Tenant has paid to add specific capital improvements to enhance operational performance
CHARLOTTE, NC - A TOP PERFORMING MARKET NATIONALLY
- Charlotte, NC ranked #5 in 2022 of best residential markets (Rocket Mortgage)
- Charlotte forecasts a 45.2% job growth over the next 10 years (4.6% growth from 2021 to 2022)
- 5th fastest growing city from 2021 to 2022 (population change: 15,217)
- One of the first Abs. NNN Heartland Dental lease formats
- Zero landlord Responsibilities
- 12 Year lease with four (4) five (5) year extensions
- 10% Rental Increases every 5 years and in extensions
LARGEST DENTAL ORGANIZATION GUARANTY
- Heartland Dental is the largest dental support organization in the United States
- Over 1,800 Locations
- 2024 Total Revenue was over $3B
NEARBY MARKET DRIVERS ON LAKE NORMAN
- Located just 0.4 miles from the site is Denver Christian Academy where more than 125 kids are enrolled
- Located adjacent to Lake Norman - the largest lake in NC and a major vacation attraction, drawing over 6M annual visitors
- Adjacent to Westport Homes, a 237 home residential community
AFFLUENT SURROUNDING DEMOGRAPHICS
- Surrounding the site within a 1-mile radius the population exceeds 3.5K people with an AHHI over $145,000
- In a 5-mile radius there are more than 40K potential customers with an AHHI greater than $160,000
RECENT RENOVATION ON HARD CORNER
- Located on a hard corner of N NC 16 Bus Hwy (13,500 VPD) & Fairfield Forest Dr (5,600 VPD) which provides strong viability and access to the site
- The Building has recently been renovated to suit the tenant’s specifications
- Tenant has paid to add specific capital improvements to enhance operational performance
CHARLOTTE, NC - A TOP PERFORMING MARKET NATIONALLY
- Charlotte, NC ranked #5 in 2022 of best residential markets (Rocket Mortgage)
- Charlotte forecasts a 45.2% job growth over the next 10 years (4.6% growth from 2021 to 2022)
- 5th fastest growing city from 2021 to 2022 (population change: 15,217)
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Property Size
4,187 sq ft
Costar Property Class
A
Year Built/Renovated
2003/2024
Price
£2,502,121
Price per sq ft
£597.59
Yield
5.20%
NOI
£130,116
Tenancy
Single
Number of Floors
1
Typical Floor Size
4,187 sq ft
Plot ratio
0.06
Total Plot Size
1.51 ac
Use Class
ELDD B-G
MAJOR TENANTS
- TENANT
- INDUSTRY
- sq ft OCCUPIED
- RENT/sq ft
- LEASE TYPE
- LEASE END
- Heartland Dental
- Retailer
- 4,187 sq ft
- -
- NNN
- Apr 2036
| TENANT | INDUSTRY | sq ft OCCUPIED | RENT/sq ft | LEASE TYPE | LEASE END | |
| Heartland Dental | Retailer | 4,187 sq ft | - | NNN | Apr 2036 |
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PROPERTY TAXES
| Parcel Number | 71128 | Improvements Assessment | £773,871 |
| Land Assessment | £421,219 | Total Assessment | £1,195,090 |
PROPERTY TAXES
Parcel Number
71128
Land Assessment
£421,219
Improvements Assessment
£773,871
Total Assessment
£1,195,090
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Westport Dental Care | 2074 N NC 16 Business Hwy
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