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1011 E Taft Ave

Sapulpa, OK 74066

$2,673,000

Freestanding For Sale  •  6,680 Sq Ft

Property Details

  • Property Type Freestanding
  • Total Building Size 6,680 Sq Ft
  • Lot Size 0.77 ac
  • Building Class B
  • Year Built 2011
  • Cap Rate 7.00 %
0 Transit Score
53 Walk Score

Description

Absolute NNN Lease - Landlord has zero responsibilities related to the management, maintenance, or repair of the subject property.
Attractive Rental Increases Two and a half percent (2.5%) rental increases annually, extending through the option period.
Strong Remaining Lease Term - The lease has approximately eleven (11) years remaining of the base lease term with one (1), ten (10) year option to renew.
Strong Guaranty - Lease is guaranteed by Heartland Dental Care, LLC. Heartland conducted the acquisition in October of 2013. Heartland Dental Care is one of the leading dental support organizations in the US with over 600 affiliated offices located in 26 states and $1 billion in revenue as of 2015.
Strong Location - The Subject Property is strategically positioned on the northeast corner of East Taft Avenue and South Mission Street, and is in the proximity of two of the citys medical facilities, Xpress Wellness Urgent Care and St. John Sapulpa Hospital.


Investment Overview :
The offering is comprised of an approximately 0.77 acre plot, along with the fee-simple ownership rights to a 6,680 square foot building 100% occupied by My Dentist. My Dentist leases the facility on an initial sixteen (16) year base lease term with one (1), ten (10) year option to renew.

Heartland Dental Care, LLC operates as a dental support organization in the United States. It supports affiliated dentists and team members by offering continuing professional education and leadership training, as well as non-clinical, administrative services, including staffing, human resources, procurement, administration, financial, marketing, and information technology. The company was founded in 1982 and is based in Effingham, Illinois. Heartland Dental posted 2014 revenues in excess of $880 million.

Highlights

Rare Absolute NNN Lease
Attractive Rental Increases
Long Remaining Lease Term
Strong Guaranty
Successful Business Model
Proximity to Medical Area

Property Flyers

Cap Rate: 7.00 %

Major Tenants

Tenant SF Occupied Lease End Date
Heartland Dental Care 6,680 SF 12/31/2027

Public Transportation

AirportDriveWalkDistance
Tulsa International Airport 30 min - 23.3 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 35
Type: Surface
Included in Rent: Yes
Jeff Matulis 918-494-2690 Stan Johnson Company
Jeff Matulis 918-494-2690 Stan Johnson Company