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Heartland Dental - Lakeland, FL 5170 Dave Robbins Way 4,290 SF 100% Leased Office Building Lakeland, FL 33812 $4,125,467 CAD ($961.65 CAD/SF) 6.50% Cap Rate
Investment Highlights
- NATION’S LARGEST DENTAL SUPPORT ORGANIZATION
- FLORIDA’S HIGH-GROWTH I-4 CORRIDOR
- PURPOSE-BUILT DENTAL FACILITY
- INDUSTRY-LEADING SCALE & MARKET POSITION
- RAPID RESIDENTIAL EXPANSION
- POLK COUNTY - ONE OF FLORIDA’S FASTEST-GROWING COUNTIES
Executive Summary
Atlantic Capital Partners has been exclusively engaged to offer for sale Heartland Dental, a 4,290-square-foot net-leased medical asset located at 5170 Dave Robbins
Way in Lakeland, Florida. The property is leased to Heartland Dental, LLC, the nation’s largest dental support organization, under a corporate-guaranteed NN lease with
approximately 6.2 years of remaining primary term. The lease features attractive 10% rental increases every five years throughout the primary term and renewal options,
providing investors with contractual income growth and long-term cash flow visibility.
Constructed in 2019 as a purpose-built dental facility, the property occupies a highly visible position along Bartow Road (US-98), which carries approximately 45,200 vehicles
per day and serves as one of Southeast Lakeland’s primary commercial corridors. The asset benefits from strong surrounding retail fundamentals, including nearby Publix,
Verizon, IHOP, Advance Auto Parts, Mid-Florida Credit Union, and numerous national retailers that drive consistent consumer traffic to the corridor.
Located approximately 41 miles east of Tampa and 58 miles southwest of Orlando, Lakeland is one of the fastest-growing cities in Central Florida and serves as a major logistics, healthcare, and commercial hub along the I-4 corridor. Supported by sustained population growth, continued residential development, and a diverse employment base anchored by Publix Super Markets, Lakeland Regional Health, Amazon, and GEICO, Heartland Dental offers investors the opportunity to acquire a well-located healthcare asset leased to an industry-leading operator in one of Florida’s strongest growth markets.
Way in Lakeland, Florida. The property is leased to Heartland Dental, LLC, the nation’s largest dental support organization, under a corporate-guaranteed NN lease with
approximately 6.2 years of remaining primary term. The lease features attractive 10% rental increases every five years throughout the primary term and renewal options,
providing investors with contractual income growth and long-term cash flow visibility.
Constructed in 2019 as a purpose-built dental facility, the property occupies a highly visible position along Bartow Road (US-98), which carries approximately 45,200 vehicles
per day and serves as one of Southeast Lakeland’s primary commercial corridors. The asset benefits from strong surrounding retail fundamentals, including nearby Publix,
Verizon, IHOP, Advance Auto Parts, Mid-Florida Credit Union, and numerous national retailers that drive consistent consumer traffic to the corridor.
Located approximately 41 miles east of Tampa and 58 miles southwest of Orlando, Lakeland is one of the fastest-growing cities in Central Florida and serves as a major logistics, healthcare, and commercial hub along the I-4 corridor. Supported by sustained population growth, continued residential development, and a diverse employment base anchored by Publix Super Markets, Lakeland Regional Health, Amazon, and GEICO, Heartland Dental offers investors the opportunity to acquire a well-located healthcare asset leased to an industry-leading operator in one of Florida’s strongest growth markets.
Property Facts
Sale Type
Investment
Sale Conditions
Property Type
Office
Property Subtype
Medical
Building Size
4,290 SF
Building Class
B
Year Built
2019
Price
$4,125,467 CAD
Price Per SF
$961.65 CAD
Cap Rate
6.50%
NOI
$268,112 CAD
Percent Leased
100%
Building Height
1 Story
Typical Floor Size
4,290 SF
Building FAR
0.08
Lot Size
1.26 AC
Parking
31 Spaces (7.23 Spaces per 1,000 SF Leased)
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Heartland Dental
- -
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Heartland Dental | - | - | - | - |
1 1
Somewhat walkable
20/100
Exceptionally drivable
100/100
Limited public transit
20/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 24-29-11-281017-000010 | Improvements Assessment | $863,919 CAD |
| Land Assessment | $985,435 CAD | Total Assessment | $1,849,354 CAD |
Property Taxes
Parcel Number
24-29-11-281017-000010
Land Assessment
$985,435 CAD
Improvements Assessment
$863,919 CAD
Total Assessment
$1,849,354 CAD
Contacts
-
David Hoppe -
Eric Suffoletto -
Mike Lucier -
Ben Olmstead -
Kendra Doherty -
Atlantic Capital Partners
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Heartland Dental - Lakeland, FL | 5170 Dave Robbins Way
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