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Brident Dental & Orthodontics...Single Tenant Corporate NNN Lease Brident Dental & Orthodontics...
Transcript of Brident Dental & Orthodontics...Single Tenant Corporate NNN Lease Brident Dental & Orthodontics...
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Single Tenant Corporate NNN Lease
Brident Dental & Orthodontics
$3,100,0006.25% CAP Rate | $194,040 NOI
Blake D. [email protected] 360.823.5111
Listing Brokers:Michael A. [email protected] 360.823.5102
7750 W. Bellfort Ave, Houston, TX
Actual Location
While the information provided is not guaranteed it has been obtained from sources we deem reliable. It is provided without any representations, warranty or guarantee, expressed or implied as to its accuracy. Prospective buyer or tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney,
accountant, or other Professional advisor.
CLICK HERE FOR PROPERTY
VIDEO
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THIS OFFERING PRESENTS the opportunity to acquire a Single Tenant Net Leased investment located in Houston, TX. The property is leased to Brident Dental on an 10+-Year NNN Lease. The property was developed in 2017 in one of the busiest retail corridors in all of Houston, TX. Some of the surrounding retailers include HEB grocery Store (Joe V’s Smart Shop), Fiesta Grocery Store, Pollo Campero, Chase Bank, Planet Fitness, Advance Auto Parts, Walmart Neighborhood Market and much more.
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INVESTMENT OVERVIEW
Price | $3,100,000CAP | 6.25%
Building Size4,312+/- SqFt
Lot Size38,712+/- SqFt
Year Built2017
Parking72+/- Spaces on site
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Lease TypeNNN
OptionsFour, 5-Year Options
Lease ExpirationOctober 31, 2027
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New Free-Standing Brident Dental & Orthodontics
Corporate NNN Lease with 9+/- Years Remaining
10% Increases Every 5 Years
Income Tax Free State
170,000+ Residents within 3-Mile Radius
Fifth Largest MSA in the United States
INVESTMENT OVERVIEW
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FINANCIAL SUMMARY
Sale Price $3,100,000.00
caP rate 6.25%
Net OPeratiNg iNcOme $194,040.00
TENANTTENANTTENANT
$0.00
PROPERTY TAXESINSURANCECAMTOTAL EXPENSES
LESS OPERATING EXPENSES
$194,040.00grOSS iNcOme
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RENT ROLL
Term Monthly Rent PSFAnnual
Rent
BRIDENTDENTAL
4,312 SQFT
YEAR 1-5YEAR 6-10
OPTION 1OPTION 2OPTION 3OPTION 4
$16,170.00$17,787.00
$19,565.70$21,522.27$23,674.50$26,041.95
$194,040.00$213,444.00
$234,788.40$258,267.24$284,094.00$312,503.40
$45.00$49.50
$54.45$59.90$65.88$72.47
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LEASE SUMMARY
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TENANT: Brident Dental & OrthodonticsGUARANTOR: Premier Dental Holdings, INC. SQFT OCCUPIED: 4,312 SqFtTERM: 10+-Year Primary TermEXTENDED TERMS: Four, 5-Year OptionsLEASE TYPE: NNNNOI: $194,040.00
Taxes: Tenant ResponsibilityInsurance: Tenant required to maintain liability and casualty insurance.CAMs: Tenant ResponsibilityMaintenance: Tenant Responsibility
Landlord Responsibility: Roof and Structure
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Since its founding in 1986, Brident Dental is an integrated, full-service dental and orthodontics organization that provides convenient, high-quality, affordable dental care in a comfortable environment through their network of more than 30 affiliated dental practices throughout Texas. Brident Dental offices provide a full suite of dental services, including family and children’s dentistry, cavity prevention and treatment, braces and orthodontic treatment, Invisalign, cosmetic dentistry, root canals, gum disease treatment, oral surgery, tooth replacement, and emergency dental care. Brident Dental works to make low-cost dental and orthodontic care more accessible by accepting a wide number of private insurance plans and offering no-interest payment plans.
Brident Dental is affiliated with Western Dental, one of the largest dental and oral health maintenance organizations on the west coast. This affiliation allows Brident Dental to benefit from a team of more than 4,000, long-standing emphasis on high standards of care, first-in-class training, and professional development.
Premier Dental Holdings, Inc., the guarantor entity, is the parent entity of Brident Dental Services and Western Dental. Premier Dental Holdings is one of the largest dental service organizations in the country with more than 200 locations and 4,000 team members. The company is affiliated with more than 1,700 dentists throughout Texas, California, Arizona, Nevada, and Colorado.
Tenant Name: Brident Dental and Orthodontics Tenant Type: CorporateWebsite: www.brident.com# of Locations: 200Year Established: 1986Guarantor: Premier Dental Holdings, Inc.
TENANT OVERVIEW
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PROPERTY PHOTOS
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AERIAL
additiONal retailerS
Fiesta MartChase BankGameStopdd’s DiscountersSubwayPrince Dollar One
Auto Zone WhataburgerHibbett SportsLittle Caesars PizzaFamily DollarWalgreens
ChevronPizza PatronBakery DonutsCity GearPlanet FitnessBurger King
Subject Property
W. Bellfort Ave 26,000
Vehicles Daily
Fondren Rd 26,000
Vehicles Daily
Fondren SW Village Mall
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SITE PLAN
Drive Thru
West Bellfort Ave26,000 VPD
Legend
Parcel Outline:Subject Property:
Trash/Recycle:Signage:
Flow of traffic:Ingress/Egress:
N
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POPulatiON
Estimated 2017Projected 2022 Census 2010 Census 2000
1mi. 3mi. 5mi.
31,826 175,055 487,35533,842 187,568 528,99329,137 160,733 448,65531,645 162,003 436,088
average iNcOme
Estimated 2017Projected 2022 Census 2010 Census 2000
1mi.
$60,321 $69,189 $72,506$65,134 $74,928 $78,635$45,649 $55,546 $56,608$43,413 $49,218 $49,093
3mi. 5mi.
DEMOGRAPHICS
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Median Age32.6 Years Old
AGE
Gender Male 49.9% Female 50.1%
Houston has not evolved into Texas’ biggest City (and the largest in the South) by accident. Known as the Bayou City for its waterway system, Houston thrives because it is a great place to work and a great place to live.
For business and fun, for living and visiting, Houston is one of the dynamic frontiers on the world stage. With its proximity to the Southern Hemisphere and having the infrastructure to accommodate the growing needs of numerous global interests, Houston has become an international destination and one of the world’s great cities.
As a major corporate center. Houston is home to 23 Fortune 500 companies.
The Port of Houston, one of the region’s greatest assets, ranks as the nation’s largest port in international tonnage and second in total tonnage.
Houston’s infrastructure is also strengthened by three airports, which form the sixth-largest airport system in the world, and a massive trucking and rail system that links the southern, south central, midwestern and western United States. More than 600 trucking firms operate in Houston, and two major rail systems operate 14 mainline tracks radiating from Houston.
Houston’s employment base has become increasingly diverse. In 1981, the economic base was dominated by energy-related businesses with nearly 85 percent of all jobs in those sectors. Today nearly half of all jobs are in non-energy fields, such as business services, technology, aerospace, medicine and manufacturing.
HOUSTON, TX
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LARGEST EMPLOYERS IN HOUSTON
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300 West 15th Street, Suite 201Vancouver, WA 98660
360.699.4494
www.MAJCRE.com