415 Waterfall Dr
Elkhart, IN 46516
Heartland Dental MOB · Office Property For Sale

Investment Overview - Peranich Huffman Net Lease Group is pleased to exclusively present for sale the Heartland Dental Medical Office Building in Elkhart, IN. Offered at a 7.00% capitalization rate, this property provides investors with a compelling opportunity to acquire a facility housing two strong medical operations, including a nationally recognized medical tenant known for its consistent performance—both in patient care and within the real estate investment community.
Lease Term - Heartland Dental has occupied the 8,000 SF medical facility since acquiring the practice in 2020. Their lease has over 5 years remaining, featuring 1.5% annual rental escalations.Lighthouse Autism Center recently extended their lease for an additional 7+ years, reflecting the strong performance of this location and the growing demand for their services in the Elkhart, IN market.
Net Lease Structure - The leases for Heartland Dental and Lighthouse Autism Center are structured on a net basis, with the tenants responsible for expenses related to HVAC, interior/non-structural elements, insurance, property taxes, and utilities. The landlord’s responsibilities are limited to maintenance and replacement of the roof, structure, and, for Lighthouse Autism Center, the parking lot. Lighthouse’s NNN reimbursements are capped at $8.50 per square foot.
Stabilized Investment - With both tenants demonstrating strong performance at this location and securing extended lease terms, this offering provides a stable and reliable investment opportunity.The property is 100% occupied, ensuring a consistent and dependable income stream for any potential buyer.
Investment Highlights
Recently Extended Lease - Lighthouse Autism Center’s decision to extend their lease for an additional 7 years reflects their strong commitment to this location and underscores the stability of their operations. The extension demonstrates confidence in the ongoing demand for their services and solidifies their long-term presence in the Elkhart, IN market.
Annual Escalations - Heartland Dental, a key tenant in this medical office property, offers 1.5% annual rental escalations, providing a reliable hedge against inflation. These consistent increases ensure income growth over time, maintaining the property’s value in an inflationary environment. With a creditworthy tenant and predictable rental escalations, this property delivers stability and long-term investment appeal. It’s a strong choice for investors seeking secure and inflation-resistant assets.
Medical Use Office- The medical office is specifically designed to accommodate a diverse range of medical tenants, fostering a stable and resilient tenant mix. Medical use tenants are particularly attractive to investors compared to traditional office tenants due to their long-term lease commitments and consistent demand for healthcare services. This strategic design enhances the property’s stability and long-term investment appeal.
Recently Acquired Practice- Heartland Dental acquired this practice in 2020 and invested significantly in integrating them into their network. This substantial commitment enhances the likelihood that Heartland will maintain long-term operations at these locations, thereby increasing the stability and attractiveness of the real estate investment.