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5160 W Main St
Kalamazoo, MI 49009
Aspen Dental · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- • Corporate Lease with ~11% Increases Every 5 Years
- • Out-parcel to State’s 2nd Best Community Shopping Center by Customer Visits; Target-Anchored
- • High Traffic Interchange Location with 30,156 VPD
EXECUTIVE SUMMARY
7+ Years Remaining on Corporate Lease - The Tenant, Aspen Dental Management, Inc., has over 7 years remaining on corporate lease that features approximately 11 percent rental increases every five years during the base term and three, five-year option periods providing an excellent hedge against inflation. The next increase is set to occur in March of 2028. The Tenant operates in a 3,962-square-foot retrofit of a former restaurant. Aspen Dental is the fastest-growing network of independently owned dental practices with more than 1,000 locations nationwide.
Rapidly Expanding Healthcare Organization - Owned by private equity firms Leonard Green, Ares Capital and American Securities, Aspen Dental is one of the largest retail healthcare business support organizations in the United States. It supports 15,000 healthcare professionals and team members at more than 1,000 health and wellness offices across 46 states. What started in 1998 with a small footprint in the northeast, has grown into the largest branded network of dental offices in the world, collectively serving more than 30,000 patients every day. This site is one of two locations the tenant has in Kalamazoo.
Rapidly Expanding Healthcare Organization - Owned by private equity firms Leonard Green, Ares Capital and American Securities, Aspen Dental is one of the largest retail healthcare business support organizations in the United States. It supports 15,000 healthcare professionals and team members at more than 1,000 health and wellness offices across 46 states. What started in 1998 with a small footprint in the northeast, has grown into the largest branded network of dental offices in the world, collectively serving more than 30,000 patients every day. This site is one of two locations the tenant has in Kalamazoo.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Build to Suit
Property Type
Retail
Property Subtype
Building Size
3,962 SF
Building Class
B
Year Built/Renovated
1971/2023
Price
$2,808,908 CAD
Price Per SF
$708.96 CAD
Cap Rate
6.85%
NOI
$192,410 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
0.52 AC
Zoning
C - Designed to support various types of business activities.
Parking
40 Spaces (10.1 Spaces per 1,000 SF Leased)
Frontage
202’ on Main St
AMENITIES
- Bus Line
- Signage
PROPERTY TAXES
| Parcel Number | 05-13-280-010 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $544,903 CAD |
PROPERTY TAXES
Parcel Number
05-13-280-010
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$544,903 CAD
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