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Single-Tenant Office

Corporate Heartland Dental (1,600+ Locations)

654 Central Ave E, Saint Michael, MN 55376

Listing Price: $2,399,454

Cap Rate
6.50%
Tenant Name
Town Center Dental Care
Years Remaining On Lease
5.7
Gross SF
4,273
Guarantor
Corporate Guarantee
Rentable SF
4,273
Price/Gross SF
$561.54
Lease Type
Double Net
Rent Per Square Feet
$36.50

Investment Overview

Heartland Dental operates as a dental practice management organization with headquarters in Effingham, Illinois. It provides support through continuing education; and management services, such as staffing, human relations, purchasing, administration, financial, marketing and information technology support. Heartland Dental has expanded to over 20,000 team members in over 1,700 supported office with over 2,400 supported doctors across 38 states.

St. Michael is located in Minnesota’s Wright County, northwest of Minneapolis within the Minneapolis-St. Paul “Twin Cities” metropolitan area. The city is conveniently located along I-94, 25 minutes from downtown Minneapolis. According to U.S. Census data, St. Michael is home to an estimated 19,995 and has seen a 9.7 percent increase in its population between 2020 and 2022.

Investment Highlights

  • 10-Year Heartland Dental Corporate Guaranteed Lease
  • Adjacent to CVS and Cub Foods Grocery Store and in Close Proximity to New Multifamily Developments
  • 10 Percent Rental Increases Every Five Years
  • 47,134 Residents within a Five-Mile Radius in the Minneapolis MSA
  • Population and Households Projected to Increase 9-10% in the Surrounding Area Over the Next Five Years
  • More Than 27,500 Cars per Day at the Corner of Central Ave E and Edgewood Drive NE
  • Average Household Income Exceeds $129,000 within a Five-Mile Radius
  • Within a 40-Minute Drive of Downtown Minneapolis and Minneapolis-Saint Paul International Airport

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) MN: 40583288

    Minnesota

Financing By

Single-Tenant Office

Corporate Heartland Dental (1,600+ Locations)

Listing Price: $2,399,454

Cap Rate
6.50%
Tenant Name
Town Center Dental Care
Years Remaining On Lease
5.7
Gross SF
4,273
Guarantor
Corporate Guarantee
Rentable SF
4,273
Price/Gross SF
$561.54
Lease Type
Double Net
Rent Per Square Feet
$36.50

Investment Highlights

  • 10-Year Heartland Dental Corporate Guaranteed Lease
  • Adjacent to CVS and Cub Foods Grocery Store and in Close Proximity to New Multifamily Developments
  • 10 Percent Rental Increases Every Five Years
  • 47,134 Residents within a Five-Mile Radius in the Minneapolis MSA
  • Population and Households Projected to Increase 9-10% in the Surrounding Area Over the Next Five Years
  • More Than 27,500 Cars per Day at the Corner of Central Ave E and Edgewood Drive NE
  • Average Household Income Exceeds $129,000 within a Five-Mile Radius
  • Within a 40-Minute Drive of Downtown Minneapolis and Minneapolis-Saint Paul International Airport

Investment Overview

Heartland Dental operates as a dental practice management organization with headquarters in Effingham, Illinois. It provides support through continuing education; and management services, such as staffing, human relations, purchasing, administration, financial, marketing and information technology support. Heartland Dental has expanded to over 20,000 team members in over 1,700 supported office with over 2,400 supported doctors across 38 states. St. Michael is located in Minnesota’s Wright County, northwest of Minneapolis within the Minneapolis-St. Paul “Twin Cities” metropolitan area. The city is conveniently located along I-94, 25 minutes from downtown Minneapolis. According to U.S. Census data, St. Michael is home to an estimated 19,995 and has seen a 9.7 percent increase in its population between 2020 and 2022.

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): MN: 40583288

    Minnesota

Financing By

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