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Heartland Dental 1297 S Tamiami Trl

4,500 SF Office Building Osprey, FL 34229 $2,599,000 ($578/SF) 5.90% Cap Rate

Investment Highlights

  • Located on Major Retail Corridor
  • Attractive Lease Fundamentals
  • Corporate Guarantee from Strong Credit Tenant

Executive Summary

LOCATED IN A MAJOR RETAIL CORRIDOR
- 280k SF of retail space located in a one mile radius
- Nearby retailers include - Publix, Ace Hardware, and Walmart Supercenter
- Positioned along busy US-41/Tamiami Trail with more than 40k vehicles per day
CORPORATE GUARANTEE FROM CREDIT WORTHY TENANT
- Heartland Dental is the largest dental support organization in the United States
- Over 1,800 Locations
- 2023 Total Revenue over $3B
HIGH GROWTH SARASOTA MSA
- The Sarasota MSA was the fastest growing region in the United States for the period of 2023-2024
- From 2021 - 2022 population grew by 2.2% in Sarasota, FL, while the median household income increased by almost 5%
ATTRACTIVE LEASE FUNDAMENTALS
- NN Lease Provides Minimal Landlord Responsibilities
- Corporate Guaranty by Heartland Dental
- 10% Rental Increases every 5 years, including option periods
AFFLUENT CONSUMER BASE IN IMMEDIATE AREA
- Located directly in front of Pine View School ~2,000 students
- More than 2,000 homes in a one mile radius and over 10,500 homes in a 3 mile radius
- High average household income at $161,088
NEW CONSTRUCTION
- The Building has recently been built to suit the tenant’s need
- Transferable warranties in place

Property Facts

Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
4,500 SF
Building Class
A
Year Built
2022
Price
$2,599,000
Price Per SF
$578
Cap Rate
5.90%
NOI
$153,360
Tenancy
Single
Building Height
1 Story
Typical Floor Size
4,260 SF
Building FAR
0.14
Land Acres
0.75 AC
Zoning
CG

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
0155-05-0110
Land Assessment
$584,300
Improvements Assessment
$883,800
Total Assessment
$1,468,100
  • Listing ID: 33282590

  • Date on Market: 9/24/2024

  • Last Updated:

  • Address: 1297 S Tamiami Trl, Osprey, FL 34229

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