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Heartland Dental 3801 Challenger Ave 4,260 SF Office Building Roanoke, VA 24012 $5,007,246 CAD ($1,175.41 CAD/SF) 5.35% Cap Rate
Investment Highlights
- LARGEST DENTAL ORGANIZATION GUARANTY
- HARD-CORNERED SITE
- NEW CONSTRUCTION IN A HIGH TRAFFICKED CORRIDOR
Executive Summary
ABS. NNN 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
HARD-CORNERED SITE
- Prominent hard-corner positioning at the signalized intersection of Challenger Ave (Route 460) and Carson Rd
- Excellent access and visibility to over 34,000 vehicles per day
POSITIONED IN DENSE RETAIL NODE
- Within a 1-mile radius of the site is more than 491K SF of retail space
- Vacancy Rate within that radius is 0.3%
- Nearby national retailers include: Kroger, Lowe’s Home Improvement, Walmart Supercenter, and more
NEW CONSTRUCTION IN A HIGH TRAFFICKED CORRIDOR
- The Building has recently been constructed to suit the tenant’s need
- Site is positioned off of busy SR 64 E (31K VPD)
HIGH GROWTH ROANOKE-DANVILLE-LYNCHBURG, MSA
- The Roanoke–Danville–Lynchburg regional market is forecasted to grow ~1.8% over the next 5 years (from ~1,139,848 to ~1,160,033)
- Roanoke MSA population ~315,749 in 2024
- Lynchburg MSA’s median household income has risen steadily, now ~$67,782
- The combined corridor is seeing reinvestment and expansion in retail, medical, and residential sectors as the geographic crossroads between two growth hubs of southern/central Virginia
- 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
HARD-CORNERED SITE
- Prominent hard-corner positioning at the signalized intersection of Challenger Ave (Route 460) and Carson Rd
- Excellent access and visibility to over 34,000 vehicles per day
POSITIONED IN DENSE RETAIL NODE
- Within a 1-mile radius of the site is more than 491K SF of retail space
- Vacancy Rate within that radius is 0.3%
- Nearby national retailers include: Kroger, Lowe’s Home Improvement, Walmart Supercenter, and more
NEW CONSTRUCTION IN A HIGH TRAFFICKED CORRIDOR
- The Building has recently been constructed to suit the tenant’s need
- Site is positioned off of busy SR 64 E (31K VPD)
HIGH GROWTH ROANOKE-DANVILLE-LYNCHBURG, MSA
- The Roanoke–Danville–Lynchburg regional market is forecasted to grow ~1.8% over the next 5 years (from ~1,139,848 to ~1,160,033)
- Roanoke MSA population ~315,749 in 2024
- Lynchburg MSA’s median household income has risen steadily, now ~$67,782
- The combined corridor is seeing reinvestment and expansion in retail, medical, and residential sectors as the geographic crossroads between two growth hubs of southern/central Virginia
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
4,260 SF
Building Class
B
Year Built
2024
Price
$5,007,246 CAD
Price Per SF
$1,175.41 CAD
Cap Rate
5.35%
NOI
$267,876 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
4,260 SF
Building FAR
0.10
Lot Size
0.98 AC
Parking
28 Spaces (6.57 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Heartland Dental
- Health Care and Social Assistance
- 4,260 SF
- -
- Oct 2036
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Heartland Dental | Health Care and Social Assistance | 4,260 SF | - | Oct 2036 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 050.01-01-03.01-0000 | Improvements Assessment | $1,027,962 CAD |
| Land Assessment | $504,022 CAD | Total Assessment | $1,531,984 CAD |
Property Taxes
Parcel Number
050.01-01-03.01-0000
Land Assessment
$504,022 CAD
Improvements Assessment
$1,027,962 CAD
Total Assessment
$1,531,984 CAD
Contacts
-
David Hoppe -
Ben Olmstead -
Connor Kuchman -
Ben McCarter -
Atlantic Capital Partners
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Heartland Dental | 3801 Challenger Ave
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