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Heartland Dental 5413 Watergrass Dr 4,260 SF Retail Building Wilmington, NC 28412 $4,848,030 CAD ($1,138.04 CAD/SF) 5.20% Cap Rate
INVESTMENT HIGHLIGHTS
- MAIN DENTAL OFFICE SERVING NEW MASTER COMMUNITY
- HIGH GROWTH WILMINGTON, NC MSA
- LARGEST DENTAL ORGANIZATION GUARANTY
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
- 2023 Total Revenue was $3B
MAIN DENTAL OFFICE SERVING NEW MASTER COMMUNITY
- This Heartland dental will be the main dental office serving the Riverlights community - a 1,300+ AC master community with over 3.3K homes
- Northly adjacent to the site is Argento at Riverlights, a 286 unit apartment complex
- Directly behind the site is Cottages at Riverlights, a 279 home development (Click Here to Read More)
POSITIONED IN A DENSE RETAIL NODE W/ GREAT DEMOGRAPHICS
- Over $110k AHHI in a 1-mile radius
- Over 40,000 people live in a 5-mile radius
- Located along a dense retail corridor with more than 1.3M Sf of retail space within a 2-mile radius
- Nearby National retailers include: The Home Depot, Lowe’s Foods, Walmart Supercenter, Lowe’s Home Improvement, and more
NEW CONSTRUCTION
- The Building has recently been built to suit the tenant’s need
- Warranties in place
HIGH GROWTH WILMINGTON, NC MSA
- Within the Wilmington MSA, the growth from 2020 - 2024 was more than 13%
- This Metro area ranks as the seventh fastest growing metro area in the country from 2020 - 2024
- 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
- 2023 Total Revenue was $3B
MAIN DENTAL OFFICE SERVING NEW MASTER COMMUNITY
- This Heartland dental will be the main dental office serving the Riverlights community - a 1,300+ AC master community with over 3.3K homes
- Northly adjacent to the site is Argento at Riverlights, a 286 unit apartment complex
- Directly behind the site is Cottages at Riverlights, a 279 home development (Click Here to Read More)
POSITIONED IN A DENSE RETAIL NODE W/ GREAT DEMOGRAPHICS
- Over $110k AHHI in a 1-mile radius
- Over 40,000 people live in a 5-mile radius
- Located along a dense retail corridor with more than 1.3M Sf of retail space within a 2-mile radius
- Nearby National retailers include: The Home Depot, Lowe’s Foods, Walmart Supercenter, Lowe’s Home Improvement, and more
NEW CONSTRUCTION
- The Building has recently been built to suit the tenant’s need
- Warranties in place
HIGH GROWTH WILMINGTON, NC MSA
- Within the Wilmington MSA, the growth from 2020 - 2024 was more than 13%
- This Metro area ranks as the seventh fastest growing metro area in the country from 2020 - 2024
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,260 SF
Building Class
B
Year Built
2025
Price
$4,848,030 CAD
Price Per SF
$1,138.04 CAD
Cap Rate
5.20%
NOI
$252,103 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
1.01 AC
Zoning
R-7,RESIDE - Residential
Frontage
945’ on Moonshell Loop
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Heartland Dental
- Retailer
- 4,260 SF
- -
- Triple Net
- Feb 2037
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Heartland Dental | Retailer | 4,260 SF | - | Triple Net | Feb 2037 |
PROPERTY TAXES
| Parcel Number | R07000-007-527-000 | Improvements Assessment | $1,373,027 CAD |
| Land Assessment | $1,138,094 CAD | Total Assessment | $2,511,121 CAD |
PROPERTY TAXES
Parcel Number
R07000-007-527-000
Land Assessment
$1,138,094 CAD
Improvements Assessment
$1,373,027 CAD
Total Assessment
$2,511,121 CAD
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Heartland Dental | 5413 Watergrass Dr
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