Heartland Dental | Fry Rd & West Rd
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Heartland Dental Fry Rd & West Rd
4,388 SF Office Building Cypress, TX 77433 $3,216,000 ($733/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Leased to Heartland Dental for 10 years plus three (3) five-year options
- 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 located near the signalized hard corner of Fry Road and West Road, which experiences a high traffic count of 43,755 vehicles per day. Part of Miramesa master planned community, one of the top25 master planned communities in the nation based on net home sales. Prime location near the new Miramesa Town Center retail development and excellent proximity to the Bridgeland development, a 11,401-acre community with 20,000 homes and approximately 65,000 residents. Projected 13% average annual household income increase within five miles of the site in the next five years, poising Heartland Dental and Cypress for significant concurrent growth. This Heartland Dental is located in an extremely affluent region, with an average annual household income of $184,791 within a one-mile radius. Within a five-mile radius of the site the population count is 249,633, with an expected 11% increase by 2029.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Office
Property Subtype
Medical
Building Size
4,388 SF
Building Class
B
Year Built
2024
Price
$3,216,000
Price Per SF
$733
Cap Rate
6%
NOI
$192,915
Tenancy
Single
Building Height
1 Story
Typical Floor Size
4,388 SF
Building FAR
0.17
Lot Size
0.60 AC
Parking
33 Spaces (7.52 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 1382220010002 | Improvements Assessment | $0 |
| Land Assessment | $611,540 | Total Assessment | $611,540 |
PROPERTY TAXES
Parcel Number
1382220010002
Land Assessment
$611,540
Improvements Assessment
$0
Total Assessment
$611,540
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Heartland Dental | Fry Rd & West Rd
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