555-555-5555
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For Sale
$5,053,000 | 6.75% Cap
3001 Dallas Pkwy, Plano, TX 75093
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Broker of Record: | N/A |
Investment Highlights
Value-Add Upside - The Heartland Dental Anchored Medical Office in Plano, TX offers substantial upside potential for investors by providing the opportunity to lease up the remaining 43% of vacant space. By filling these vacancies, investors can generate significant additional rental income and enhance the property’s overall value.
High Demand Location - Situated right off the Dallas Tollway, this property benefits from a high-traffic area with strong demand. The strategic location provides excellent visibility and accessibility, further increasing the potential for successful lease up and maximizing rental income.
Medical Use Office- The medical office is specifically designed to accommodate a diverse range of medical tenants, fostering a stable and resilient tenant mix. Medical use tenants are particularly attractive to investors compared to traditional office tenants due to their long-term lease commitments and consistent demand for healthcare services. This strategic design enhances the property’s stability and long-term investment appeal.
Recently Acquired Practice- Heartland Dental acquired these practices in December 2021 and invested significantly in integrating them into their network. This substantial commitment enhances the likelihood that Heartland will maintain long-term operations at these locations, thereby increasing the stability and attractiveness of the real estate investment.
Facility Type | Building Area (SF) | Years Remaining | Net Operating Income |
---|---|---|---|
Multi-Tenant | 20,315 Square Feet |
4.5 Years (WALT) | $341,025 |
Investment Overview - Peranich Huffman Net Lease Group is pleased to offer for sale, on an exclusive basis, the Heartland Dental Anchored Medical Office of Plano, TX. Offered at a 6.75% capitalization rate, the offering provides an investor with the opportunity to acquire a property with a strong operation that is home to a national medical tenant that exemplifies a reputation of consistency for both patients and the real estate investment community.
Lease Term - Heartland Dental has occupied 6,763 SF of the 20,316 SF medical facility since they acquired the practice in 2021. The Heartland Dental lease has 7+ years of lease term remaining with 10% rental escalations occurring every 5 years with the next increase set for 12/15/2026. The lease calls for 4 remaining 5 year options.
Net Lease Structure - The Heartland Dental lease is structured on a net basis, whereby the tenant is responsible for all expenses related to the HVAC, interior/non-structural elements, insurance, property taxes, and utilities. The landlord has responsibilities limited to the maintenance of the roof and structure.
Georgia Office
(832) 602-3383
jonathan@phnlg.com
Texas Office
(972) 865-7991
nathan@phnlg.com
Alabama Office
(832) 602-4876
harrison@phnlg.com