For Sale
$3,112,000

8644 Addison Pl DrNaples, FL 34119

Corporate-guaranteed, high-growth dental office.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 4,260 square foot medical office building in Naples, FL, currently leased to Heartland Dental, a subsidiary of KKR, under a 10-year Net Lease (NN+) agreement commencing December 29, 2021, and expiring December 31, 2031. The property boasts a strong 5.75% cap rate and a substantial NOI of $178,920. Situated on a 0.57-acre lot at 8644 Addison Pl Dr, Naples, FL 34119, this building benefits from a prime location with high visibility from Immokalee Road, experiencing daily traffic of 54,500 vehicles. The property is part of a development including Chick-fil-A and ALDI, ensuring high foot traffic and brand recognition. The tenant, Heartland Dental, is the largest dental support organization in the U.S., demonstrating financial stability and growth potential. The lease includes rent bumps, providing for increased income over time. This property is ideally suited for a 1031 exchange. The affluent surrounding area, with an average household income exceeding $149,257 within a three-mile radius, and projected growth of over 17% within the next five years, further enhances the investment's appeal. Proximity to major retailers like Publix, CVS, and Starbucks, along with nearby schools and golf courses, contributes to a strong and stable market. New construction completed in 2021.

Highlights

  • High visibility from Immokalee Road, with 54,500 vehicles passing daily.
  • Located in an affluent area, with average household income exceeding $149,257 within a three-mile radius.
  • Strong projected income growth exceeding 17% within one, three, and five-mile radii over the next five years.
  • Excellent co-tenancy with national retailers including Aldi, Publix, CVS, Chase Bank, Walgreens, and Starbucks.
  • Proximity to Gulf Coast High School (2,439 students) and Laurel Oak Elementary School (1,072 students).
  • Surrounded by multiple golf and country clubs, including The Quarry, Esplanade, and Heritage Bay.

Property Details for 8644 Addison Pl Dr

Property type
Office properties, Medical offices
Square Feet
4,260 SF
Lot Size (sq. ft)
24,829 SF

Location Insight

City
Naples
County
Collier
State
Florida
Latitude
26.27318079215
Longitude
-81.692770603458
8644 Addison Pl Dr, Naples, Florida

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8644 Addison Pl Dr
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