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Heartland Dental 8136 E Southport Rd 4,260 SF Office Building Indianapolis, IN 46259 $4,638,642 CAD ($1,088.88 CAD/SF) 5.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Newly casted 10-year absolute NNN lease with a proven store, demonstrating long-term commitment to the site
- Heartland Dental, LLC is the largest dental support organization in the U.S., with more than 1,800 supported dental offices located in 38 states
- Heartland Dental continues impressive national growth with 94 new locations opened in 2023
- 10% fixed rental increases every five years in initial term and extension terms
- Heartland Dental is majority owned by KKR, the largest global investment company in the world with over $504B under management
EXECUTIVE SUMMARY
This Heartland Dental is outparcel to the newly constructed Johnson Fields | Kroger Anchored Development, including 60 acres of multi-use planned development. The property is strategically located just off the signalized intersection of East Southport Road & South Franklin Road (38,395 cars per day) and four miles from an Interstate 65 interchange. The site is surrounded by residential rooftops in one of the fastest growing areas on the Southside of Indianapolis. This location features excellent demographics with an average annual household income in excess of $180,000 within a one-mile radius. Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise Heartland Dental and Southeast Indianapolis for steady concurrent growth. The property is within 0.5 miles of the future Southern Meadows Apartment complex development with 250+ units
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Office
Property Subtype
Building Size
4,260 SF
Building Class
B
Year Built
2023
Price
$4,638,642 CAD
Price Per SF
$1,088.88 CAD
Cap Rate
5.50%
NOI
$255,110 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
4,260 SF
Building FAR
0.16
Lot Size
0.60 AC
Zoning
C-1 - Commercial
PROPERTY TAXES
| Parcel Number | 49-16-07-113-003.000-300 | Improvements Assessment | $912,584 CAD |
| Land Assessment | $417,057 CAD | Total Assessment | $1,329,641 CAD |
PROPERTY TAXES
Parcel Number
49-16-07-113-003.000-300
Land Assessment
$417,057 CAD
Improvements Assessment
$912,584 CAD
Total Assessment
$1,329,641 CAD
CONTACTS
-
Michael Yuras -
Ryan Forsyth -
Jack Hinson -
Vincent Aicale -
Scott Crowle -
Cushman & Wakefield
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Heartland Dental | 8136 E Southport Rd
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