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Heartland Dental 620 Chessie Sta 4,260 sq ft Retail Property Apex, NC 27502 £2,786,529 (£654.11/sq ft) 5.20% Net Initial Yield
INVESTMENT HIGHLIGHTS
- NEW CONSTRUCTION IN MIXED USE DEVELOPMENT
- RALEIGH, NC - A TOP PERFORMING MARKET NATIONALLY
- RARE LEASE STRUCTURE
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
POSITIONED IN HIGH DEMAND TRADE AREA
- Within a 1-mile radius of the Heartland Dental is more than 857K SF of retail space boasting a 0.5% vacancy rate
- Nearby National Retailers Include: Food Lion, Lidl, Costco Wholesale, Harris Teeter, Academy Sports & Outdoors, and more
HIGHLY AFFLUENT APEX
- Located in Apex, NC which has experienced an 18.25% population growth since 2020
- Surrounding the site within a 1-mile radius the population exceeds 9K people with an AHHI over $150,000
- In a 5-mile radius there are more than 175K potential customers with an AHHI greater than $170,000
NEW CONSTRUCTION IN MIXED USE DEVELOPMENT
- Outparcel to Villages of Apex, a 166 Townhouse Community
- The Building has recently been built to suit the tenant’s specifications
- Tenant has paid to add specific capital improvements to enhance operational performance
RALEIGH, NC - A TOP PERFORMING MARKET NATIONALLY
- Raleigh, NC ranked #3 in 2023 of best residential markets (Rocket Mortgage)
- Raleigh forecasts a 44% job growth over the next 10 years (3.0% growth from 2021 to 2022)
- Raleigh ranked #3 in best places to live for 2023-2024 (U.S. News)
- 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
POSITIONED IN HIGH DEMAND TRADE AREA
- Within a 1-mile radius of the Heartland Dental is more than 857K SF of retail space boasting a 0.5% vacancy rate
- Nearby National Retailers Include: Food Lion, Lidl, Costco Wholesale, Harris Teeter, Academy Sports & Outdoors, and more
HIGHLY AFFLUENT APEX
- Located in Apex, NC which has experienced an 18.25% population growth since 2020
- Surrounding the site within a 1-mile radius the population exceeds 9K people with an AHHI over $150,000
- In a 5-mile radius there are more than 175K potential customers with an AHHI greater than $170,000
NEW CONSTRUCTION IN MIXED USE DEVELOPMENT
- Outparcel to Villages of Apex, a 166 Townhouse Community
- The Building has recently been built to suit the tenant’s specifications
- Tenant has paid to add specific capital improvements to enhance operational performance
RALEIGH, NC - A TOP PERFORMING MARKET NATIONALLY
- Raleigh, NC ranked #3 in 2023 of best residential markets (Rocket Mortgage)
- Raleigh forecasts a 44% job growth over the next 10 years (3.0% growth from 2021 to 2022)
- Raleigh ranked #3 in best places to live for 2023-2024 (U.S. News)
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Property Size
4,260 sq ft
Costar Property Class
B
Year Built
2024
Price
£2,786,529
Price per sq ft
£654.11
Yield
5.20%
NOI
£144,917
Tenancy
Single
Number of Floors
1
Plot ratio
0.10
Total Plot Size
1.00 ac
Use Class
PUD-CZ
Frontage
625 ft on Great Northern Station
AMENITIES
- Signage
- Signalised Intersection
MAJOR TENANTS
- TENANT
- INDUSTRY
- sq ft OCCUPIED
- RENT/sq ft
- LEASE TYPE
- LEASE END
- Heartland Dental
- Retailer
- 4,260 sq ft
- -
- NNN
- Oct 2036
| TENANT | INDUSTRY | sq ft OCCUPIED | RENT/sq ft | LEASE TYPE | LEASE END | |
| Heartland Dental | Retailer | 4,260 sq ft | - | NNN | Oct 2036 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0742.15-63-6321-000 | Improvements Assessment | £0 |
| Land Assessment | £930,413 | Total Assessment | £930,413 |
PROPERTY TAXES
Parcel Number
0742.15-63-6321-000
Land Assessment
£930,413
Improvements Assessment
£0
Total Assessment
£930,413
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Heartland Dental | 620 Chessie Sta
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